Month: July 2022

Reuters was first to report that EU policymakers have launched a drive to restart domestic output of magnesium, used in aluminum and steel products, with at least three firms working on the project. A European Commission staff working document made available to Reuters places a new emphasis on magnesium and a target of cutting dependence […]

Reuters exclusively revealed that Sri Lanka has hired heavyweight financial and legal advisers Lazard and Clifford Chance as it prepares for the difficult task of renegotiating its debts. The move is the latest development in Sri Lanka’s worst economic crisis since independence from Britain in 1948 and comes after the country was officially declared in […]

Reuters was first to report that Frontier Group’s $2.7 billion acquisition of Spirit Airlines would collapse after the latter let it go to a shareholder vote that shot the deal down, allowing Spirit Airlines to finalize a $3.8 billion sale to JetBlue Airways. Shares of all three companies moved sharply after Reuters revealed the news. […]

Reuters revealed that China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February. The move by the world’s biggest oil importer comes a month after […]

Reuters was first to report that Elon Musk plans to cut 10% of staff and freeze hiring, citing a “super bad” feeling about the economy. The internal email, seen by Reuters, stirred investor concern about the health of the global economy, the auto industry and the electric car maker. Nasdaq fell 1% in premarket trading […]

Reuters exclusively reported that the U.S. Justice Department has opened a criminal investigation into Cassava Sciences involving whether the biotech company manipulated research results for its experimental Alzheimer’s drug. The probe adds to scrutiny on the company from the U.S. Securities and Exchange Commission and investors after two physicians made allegations of data manipulation and […]

Reuters was first to report that Russian energy giant Gazprom had halted the operation of a turbine on the Nord Stream 1 pipeline, one of the primary transit routes for Russian gas to Europe. The news, coming shortly after the pipeline had re-opened after routine maintenance, means gas flows will drop to half their already […]

Shares in Nasdaq-listed Grab Holdings fell 5% yesterday after Reuters exclusively reported that two top executives at the Southeast Asian ride-hailing and delivery firm’s fintech business have quit, adding to other senior departures in recent months at the loss-making group. Both the executives worked at the Grab Financial Group’s GrabFin unit, which is streamlining its […]

Reuters revealed that Malaysia’s four largest telecommunications firms are seeking a majority stake in a state 5G agency, countering a proposal by the government to offer them minority ownership. The four dominant providers – Celcom Axiata, DiGi Telecommunications, Maxis and U Mobile – also want a review of the pricing model and network access plan offered […]

Reuters shed light on how Indians are cranking up air conditioning as they still work from home, while lights come back on in offices and factories with an end to COVID curbs, upending power demand patterns amid a heatwave and the country’s worst blackouts in years. India has traditionally seen peak demand late in the […]