Month: September 2022

Reuters was first to report Turkey’s central bank cut its policy rate by 100 basis points today, even as inflation rose above 80%, and as central banks globally race in the opposite direction and tighten policy. The Turkish lira sank to a record low of 18.42 versus the dollar after the move. The post Reuters […]

Reuters exclusively reported Turkish defence firm Baykar has delivered 20 armed drones to the United Arab Emirates this month and could sell more, as a diplomatic detente between the former regional rivals expands into military contracts. The post Reuters reveals Turkey sells battle-tested drones to UAE as regional rivals mend ties appeared first on Reuters […]

Reuters exclusively reported PepsiCo has stopped making Pepsi, 7UP and Mountain Dew in Russia nearly six months after the U.S. company said it would suspend sales and production after Moscow sent tens of thousands of troops into Ukraine. The post Reuters reveals PepsiCo ends Pepsi, 7UP production in Russia months after promising halt over Ukraine […]

Reuters exclusively reported an offshore bondholders’ group of cash-strapped Kaisa is offering up to $2 billion to acquire stalled housing projects of the Shenzhen-based developer to facilitate their completion.  The post Reuters reveals offshore creditors of Chinese developer Kaisa offer $2 bln to take over stalled projects appeared first on Reuters News Agency.

Reuters was first to report German utilities RWE and Uniper are close to striking long-term deals to buy liquefied natural gas (LNG) from Qatar’s North Field Expansion project to help replace Russian gas. Talks between Germany and Qatar have been fraught with differences over key conditions such as the length of contracts and pricing, but […]

Reuters was first to report some contractors helping French power giant EDF to inspect and repair its corrosion-hit nuclear reactors are planning to relax their rules on radiation exposure limits so that their workers can spend more time on the job. EDF, which is rushing to get its fleet of nuclear power stations ready for […]

Reuters exclusively revealed that Citigroup has submitted a comprehensive multiyear plan to the Federal Reserve and the Office of the Comptroller of the Currency outlining steps to fix weaknesses in its risk management and internal controls. Sources said the plan aims to address a 2020 directive from the Fed demanding that the bank correct several […]

Reuters exclusively revealed that Delta Air Lines plans to start receiving shipments of renewable fuel feedstocks at its Trainer, Pennsylvania, refinery as part of a strategy that could reduce its environmental liabilities by hundreds of millions of dollars. Sources said the refinery is expected to start importing agricultural products such as soybean oil, which can […]

Reuters exclusively revealed that Credit Suisse is sounding out investors for fresh cash, approaching them for the fourth time in around seven years as it attempts a radical overhaul of its investment bank. The investment bank is also evaluating various scenarios, including the most drastic option of largely exiting the U.S. market. Credit Suisse shares […]

Reuters was first to report the hotly anticipated pricing range of the planned initial public offering (IPO) of Porsche, the luxury sportscar maker that parent company Volkswagen is planning to list on the Frankfurt stock exchange. The targeted pricing of the preferred shares of Porsche translates into a valuation of up to 75 billion euros, below the upper […]