Month: March 2022

Reuters exclusively reported that MG Motor India, which is owned by China’s SAIC Motor, plans to raise funds to develop its Indian electric mobility business, as Chinese investments face increased scrutiny by the government in New Delhi. MG Motor India may try to sell a stake of between 10% and 30% and is looking at options including […]

Reuters exclusively reported that China has told top state insurers to perform urgent checks on their exposure to Russia and Ukraine, as concerns swirl about the damage to the two economies amid intense fighting. The move was also triggered by sweeping sanctions that have been imposed by many countries on Russia. The post Reuters Reveals China asks […]

Reuters exclusively reported that Ukraine plans to urge about 50 additional tech companies, including in gaming, esports and internet infrastructure, to take action against Russia following a slew of earlier requests. Oracle swiftly suspended operations in Russia. Other tech giants, including Google and Apple, were asked to shutter their mobile app stores in Russia but appear more […]

Reuters exclusively reported that the European Commission has prepared a new package of sanctions against Russia and Belarus over the invasion of Ukraine that will hit additional Russian oligarchs and politicians and three Belarusian banks. The draft package will ban three Belarusian banks from the SWIFT banking system and add several more oligarchs and Russian lawmakers to […]

Reuters exclusively reported that Italy’s Prime Minister Mario Draghi has approved a decree allowing Italy’s state broadcaster RAI to cut its holding in towers unit Rai Way below 51%, in a move expected to trigger sector consolidation. The decree could pave the way for merger talks between Rai Way and EI Towers, the officials said, a long-mooted tie-up […]

A Reuters exclusive noted that private equity firms including Advent International and companies including Aveanna Healthcare Holdings Inc have expressed interest in acquiring the home health and hospice business of Encompass Health Corp. Encompass, which provides post-acute healthcare services, said in October that it planned to spin off the business, called Enhabit, in the first half of […]

Reuters exclusively reported that Reliance Industries, India’s biggest conglomerate—run by Mukesh Ambani, the country’s richest man—presses ahead with a shock de facto takeover of prized retail real estate that Amazon.com Inc has been keen to take part-ownership of. The high-profile, bitter dispute between the corporate titans, in which Amazon has sought to block Reliance’s planned $3.4 billion purchase […]

Reuters exclusively reported that Russian billionaire Roman Abramovich will not rush his divestment of English football team Chelsea FC, even as Britain is considering sanctions against him. Chelsea FC tapped Joe Ravitch, the co-founder of investment bank Raine Group LLC, to find a buyer after Abramovich decided this week to put the football club he has owned […]

A Reuters exclusive revealed that European Union officials are examining curbing Russia’s influence and access to finance at the International Monetary Fund following its invasion of Ukraine. This scenario — now under discussion — would add to the pressure on Russia’s economy and financial system and also marks an important symbolic step, deepening Moscow’s international isolation. The […]

Reuters broke news that Austria’s Raiffeisen Bank International is looking into leaving Russia, a move that would make it the first European bank to do so since the country’s invasion of Ukraine. Such a decision is not imminent, but could be triggered if the bank’s businesses in those countries need further cash or capital. The […]