Month: September 2022

Reuters was first to report yesterday that a joint venture between India’s Vedanta and Taiwan’s Foxconn has selected Indian Prime Minister Narendra Modi’s home state of Gujarat for its semiconductor project, the first major step in its $20 billion plan. Vedanta obtained financial and non-financial subsidies including on capital expenditure and cheap electricity from Gujarat […]

Reuters was first to report that the world’s top oil trader Vitol has posted the highest ever profits, making more money in the first half of 2022 than in the whole of 2021, which was already its previous all-time high. The company, which trades 7% of global oil, posted net profits of $4.5 billion. Market […]

Reuters was first to report that a unit of Japan’s Sony Group and India’s Zee Entertainment have proposed offering concessions such as pricing discounts to help ease the concerns of the country’s antitrust regulator over their merger, which will create a $10-billion TV behemoth. The concessions are a bid to iron out antitrust worries of […]

Reuters was first to report that the Biden administration plans next month to broaden curbs on U.S shipments to China of semiconductors used for artificial intelligence and chipmaking tools. The move would expand the reach of the limits and could subject other U.S. companies producing similar technology to the restrictions.  The post Reuters reveals Biden […]

Reuters exclusively revealed the United States is considering options for a sanctions package against China to deter it from invading Taiwan, with the European Union coming under diplomatic pressure from Taipei to do the same.  The post Reuters reveals U.S. weighs China sanctions to deter Taiwan action, Taiwan presses EU appeared first on Reuters News […]

Reuters was first to report Goodyear Tire & Rubber has reached an agreement to settle a labour dispute at its Malaysian factory with migrant workers who alleged unpaid wages and benefits. Goodyear, one of the world’s largest tire makers, declined to say how much it paid out, but the workers said settlement agreements signed this year […]

Reuters was first to report Colombia’s state-run oil company Ecopetrol has asked the oil regulator to suspend contracts for two fracking pilot projects for 90 days. The two projects — being developed in Santander province by Ecopetrol and U.S. oil major Exxon Mobil Corp — have faced stiff resistance from environmental groups and could be […]

Reuters was first to report that an international standards body approved the creation of a merchant code for gun retailers following pressure from activists who say it will help track suspicious weapons purchases. It will allow financial institutions to use new tools to detect and report suspicious activity associated with gun trafficking and mass shootings. […]

Reuters exclusively revealed that Chinese electric vehicle maker Zhejiang Leapmotor Technology has shelved a plan to raise $1.5 billion through an initial public offering in Hong Kong because of lukewarm investor interest. Bankers and advisers had hoped a deal of the size planned by Leapmotor, which would have been Hong Kong’s largest IPO so far […]

Reuters reported that Tencent-backed Indian music streaming app Gaana has switched to a paid subscription model to avoid closing down after failing to secure fresh funds or find a buyer. Gaana, also backed by India’s Times Internet, said in the email that talks with a potential acquirer had “fallen through,” without naming the other party. […]