Month: December 2023

Reuters was first to report that India’s sugar output this crop year, hit by weak rains, is set to lag consumption for the first time in seven years, and lower plantings may even force the world’s No.2 producer to import in the following year. The post Not so sweet: India may need to import sugar […]

Reuters was first to report that a little-known private equity firm is set to take on the toughest job in corporate Japan: turning around Toshiba. Japan Industrial Partners (JIP) is spearheading a $14 billion takeover that will see the troubled conglomerate delisted on Wednesday after 74 years on the Tokyo exchange.  The post In buying […]

Reuters exclusively reports that Chinese leaders agreed at an annual meeting on the economy this week to run a budget deficit of 3% of gross domestic product in 2024, while other fiscal support may be covered by off-budget debt. The post China to run budget gap of 3% of GDP in 2024, issue special debt  […]

Reuters exclusively reported that BP’s (BP.L) board has short-listed interim CEO Murray Auchincloss and two senior female executives as internal candidates to replace Bernard Looney as chief executive. BP was thrown into turmoil after Looney resigned on Sept. 12 for failing to disclose relationships with employees and leaving no clear succession plan in place.  The […]

Reuters reported that QatarEnergy expects to agree new long-term liquefied natural gas supply deals in Asia and Europe, with several “imminent”. The post QatarEnergy CEO says new LNG supply deals ‘imminent’ appeared first on Reuters News Agency.

Reuters was first to report that Six U.S. oil and gas bankers who missed out on a wave of mega deals in the oil patch after leaving mergers and acquisitions powerhouse Citigroup (C.N) last year to join smaller firm Guggenheim Securities are now decamping to Moelis & Co (MC.N).  The post Guggenheim oil and gas […]

Reuters exclusively reported that Argentina is set to receive financing from the Development Bank of Latin America and the Caribbean (CAF) to make a $913 million payment due to the IMF next week, two sources familiar with the matter told Reuters. Argentina, whose $44 billion International Monetary Fund programme makes it the largest debtor to […]

Reuters exclusively reported that Apple (AAPL.O) has offered to let rivals access its tap-and-go mobile payments systems used for mobile wallets, three people familiar with the matter said, a move that could settle EU antitrust charges and stave off a possible hefty fine. The EU competition enforcer last year charged Apple with curbing rivals’ access […]

Reuters exclusively reported that Chinese chip designers including Tencent Holdings (0700.HK) are aggressively pitching their AI chips as alternatives to Nvidia’s (NVDA.O), hoping U.S. export restrictions will prompt clients to switch, said four people familiar with such discussions. California-based Nvidia commands as much as 90% of China’s $7 billion market for chips used to process […]

Reuters exclusively reported that China’s Huawei Technologies has asked Mercedes Benz (MBGn.DE) and Volkswagen’s Audi if they are interested in buying small stakes in its smart car software and components firm, according to three people with knowledge of the discussions.The move is aimed at expanding its partnerships beyond Chinese brands, they said. Huawei (HWT.UL), the […]