Month: November 2022

Reuters exclusively revealed Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, pointing to a production adjustment as it faces disruptions in China. Foxconn has grabbed headlines in recent weeks, with tight virus restrictions at its Zhengzhou plant, the world’s largest iPhone factory, disturbing production and fuelling […]

Reuters shed light on how the Italian economy ministry this week said it would appoint former Treasury official Antonino Turicchi as chairman of state-owned carrier ITA Airways, the successor to Alitali. The post Reuters reveals Italy names former Treasury official to head ITA Airways appeared first on Reuters News Agency.

Reuters exclusively reported that Indian sugar mills have been renegotiating and defaulting on contracts to supply 400,000 tonnes of the sweetener to overseas buyers as prices jumped after the government cut this year’s export quota. After Reuters revealed the news, New York raw sugar futures jumped 2.3% to hit a seven-month peak yesterday. Shares of Indian sugar […]

Reuters exclusively revealed German authorities are stepping up preparations for emergency cash deliveries in case of a blackout to keep the economy running, as the nation braces for possible power cuts arising from the war in Ukraine. The plans include the Bundesbank, Germany’s central bank, hoarding extra billions to cope with a surge in demand […]

Reuters was first to report Temasek Holdings is exploring selling Advanced MedTech, after the medical devices firm, fully owned by the Singaporean state investor, received interest from suitors, including buyout funds. Two investment banks have been tapped to launch a sale process for Singapore-headquartered MedTech, which could be valued at roughly $1 billion. The post […]

Reuters was first to report that Tesla has considered plans for exporting made-in-China electric vehicles to the United States and Canada, a step that would connect its largest factory to North America, its largest market. Tesla has been evaluating whether Model 3 and Model Y electric vehicles made in Gigafactory Shanghai could be sold in […]

Reuters exclusively reported that Chad became the first country to agree to a deal with its creditors, including Swiss commodity house Glencore, under the G20 Common Framework — designed to provide debt relief to developing nations. Reuters was also first to report confirmation of the agreement and exclusively sketched out rare criticism from World Bank […]

Reuters provided insight on how Credit Suisse’s recent decision to exit certain investment banking activities is drawing scrutiny from at least two investors and a proxy adviser who told Reuters they are worried about how the Swiss bank managed potential conflicts of interest of two directors. The move to break up the lender and spin […]

Reuters exclusively revealed property developer China Evergrande Group plans to use domestic assets as sweeteners to win offshore creditor approval for a long-awaited debt-restructuring proposal. Evergrande, engulfed by $300 billion in liabilities, aims to start negotiating restructuring terms next month and is combing through onshore assets to offer as additional credit enhancement to holders of […]

Reuters exclusively reported that at least $1 billion of customer funds have vanished from collapsed crypto exchange FTX. The exchange’s founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to his trading company Alameda Research, according to sources who said a large portion of that total has since disappeared The post Reuters […]