Month: May 2022

Reuters reported exclusively that Chinese-owned MMG’s huge Las Bambas copper mine in Peru was considering a plan to evict indigenous communities that have camped on the property and forced a production halt. Getting production started again at Las Bambas would add to global supply, potentially dampening prices.  Peruvian police later revealed they had evicted an indigenous community that set up […]

Reuters revealed that a sudden fall in European shares driven by a brief crash in Nordic markets was caused by a single sell order trade by Citigroup. The flash-crash involved an erroneous calculation relating to a Nasdaq index involving Swedish companies. The Stockholm OMX 30 equity benchmark index was one of the hardest hit, falling by 8% […]

Reuters was first to report Indian refiners are negotiating a six-month oil deal with Russia to import millions of barrels per month, as the world’s third largest importer seeks more Russian crude despite Western sanctions. India has already bought more than twice as much crude from Russia in the two months since its invasion of Ukraine as […]

Reuters revealed global commodities trader Trafigura will stop all purchases of crude oil from Russia’s state company Rosneft by May 15, when tighter EU rules on Russian oil sales come into effect. The Geneva-based firm will also “substantially reduce” the volume of refined products it buys from Rosneft. The post Reuters reveals Trafigura to stop buying crude from […]

Reuters reported exclusively that United Natural Foods and Oak Street Real Estate Capital are separately working on bids for U.S. food distributor SpartanNash. SpartanNash, which is based in Michigan and has a market value of $1.3 billion, owns 145 supermarkets and operates commissaries for the U.S. military.  The post Reuters reveals Food distributor SpartanNash attracts acquisition interest […]

Reuters revealed German software firm SAP is working with investment bank Moelis & Co to sell its corporate learning software business Litmos as it seeks to streamline its operations and focus on cloud-based revenue. The sale of California-based Litmos, which is profitable, could fetch a valuation of more than $1 billion. The post Reuters reveals Germany’s SAP hires adviser […]

Reuters exclusively revealed Coca-Cola’s estimated $3 billion initial public offering for its African bottling unit will likely take place in the third quarter, after market turmoil linked to the war in Ukraine upset plans to list earlier. The flotation of Coca-Cola Beverages Africa would be the biggest on the Johannesburg Stock Exchange since at least 2016 and […]

Reuters revealed Shanghai authorities helped Tesla transport over 6,000 workers and carry out necessary disinfection work to reopen its factory last month amid the city’s lockdown. A letter that Tesla sent to local officials, seen by Reuters, outlined the lengths to which the city went to help the U.S. automaker, indicating Tesla’s importance to Shanghai as the […]

Philippines presidential candidate Ferdinand Marcos Jr., along with his mother Imelda, has long tried to thwart efforts to recover billions of dollars plundered during his father’s autocratic rule. If Marcos becomes president in elections on May 9, he will have the authority to appoint the head of the agency set up to recover the family’s […]