Month: February 2023

Reuters exclusively revealed that the United States’ sanctions authority has launched an inquiry into Raiffeisen Bank International over its Russian business, increasing scrutiny of the Austrian lender that plays a critical role in the Russian economy. The request, part of Washington’s renewed push to financially isolate Moscow, is worrying European financial regulators that oversee Raiffeisen […]

Reuters was first to report that Ericsson will lay off 8,500 employees, citing a memo sent to employees and confirmed by Ericsson. This layoff demonstrates that the recent job cuts within the tech industry are moving to other sectors, with this being the first major layoff by a telecom company.    The post Reuters was first […]

In an exclusive discussion with Reuters, Sultan Ahmed Al Jaber, the UAE’s climate envoy and designated president of the COP28 climate summit, said his main priority would be to keep alive the goal of limiting global warming to 1.5 degrees Celsius as the world falls behind on the target. In his first public remarks on […]

Reuters reveals South Korean startup Rebellions Inc. launches an artificial intelligence (AI) chip on Monday, racing to win government contracts as Seoul seeks a place for local companies in the exploding AI industry. The company’s ATOM chip is the latest Korean attempt to challenge global leader Nvidia Corp (NVDA.O) in the hardware that powers the […]

Reuters exclusively announced that the new U.S. agriculture trade chief gave Mexico until Feb. 14 to respond to a U.S. request to explain the science behind Mexico’s planned bans on genetically modified corn and glyphosate herbicide. In an interview with Reuters, Doug McKalip said Mexico’s response will help the trade agency decide next steps in its […]

Reuters was first to report that Allianz (ALVG.DE), one of the world’s biggest investors, is moving to shun “alternative” investments, including property, wind farms and even London’s sewage system, in favor of traditional bonds. The German company’s new approach comes amid a sea-change in the investment environment, with central banks raising interest rates to clamp […]

Reuters was first to report that China National Petroleum Corp (CNPC) is near to finalizing a deal to buy liquefied natural gas (LNG) from QatarEnergy. If sealed, this would be the second such deal between major LNG exporter Qatar and the world’s second biggest LNG buyer, as Beijing looks to beef up gas supply and […]

Reuters exclusively reported that Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and ease a crippling foreign-exchange crisis. Khurram Dastgir Khan, Pakistan’s Energy Minister, confirmed to Reuters on Monday that Pakistan will not build new gas-fired plants in the coming years. A shortage of natural gas, which accounts for over […]

Reuters exclusively reported that 33 members of Congress are urging the U.S. Labor Secretary to seek strong and swift penalties against those responsible for child labor in automotive plants. A recent Reuters investigation found children as young as 12 working in Alabama factories that make parts for Hyundai Motor Co and Kia Corp. Reuters also […]

Payments giant FIS prepares to break up Reuters broke the news that banking and payments conglomerate Fidelity National Information Services, Inc. is preparing to break up, undoing a $43 billion acquisition it completed four years ago. Sources said FIS plans to pursue a tax-free spin-off of its merchant business, which processes payments for companies. FIS […]