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Reuters exclusively reported that Saudi Arabia’s surprise reversal of its oil expansion ambitions was at least six months in the making, after Riyadh concluded its vast spare capacity was enough to supply markets during crises and further investments in new fields would make no economic sense.  The post Saudi Arabia’s capacity U-turn was months in […]

Reuters exclusively reported that UBS is forging ahead with its integration of Credit Suisse but two key investors fear the Swiss bank could be on a collision course with regulators because of its size.  The post Two key UBS investors worry about bank’s size, regulatory friction  appeared first on Reuters News Agency.

Reuters exclusively reported that Inpex Corp (1605.T), Japan’s top oil and gas explorer, is selling its minority stake in a Russian oil project in Siberia to Japanese trading house Itochu Corp (8001.T).  The post Japan’s Inpex selling stake in Russian oil project to Itochu, sources say  appeared first on Reuters News Agency.

Reuters exclusively reported that Sony scrapped the $10 billion merger of its Indian arm with Zee Entertainment (ZEE.NS), in part because Zee failed to meet some financial terms of the deal and come up with a plan to address them. The post Sony scrapped $10 bln India merger as Zee failed to meet financial terms […]

Reuters exclusively reported that Britain’s biggest domestic bank Lloyds was cutting around 1,600 roles across its branch network, part of a renewed push by lenders to axe costs as tough economic conditions and pressure on margins prompt them to tighten their belts. It is the latest in a string of deep cuts made by British […]

Reuters exclusively reported that Boris Nadezhdin, a 60-year-old former opposition lawmaker, is running a long-shot campaign to challenge Vladimir Putin for the Russian presidency. Nadezhdin says his call to end Russia’s war in Ukraine has put rocket boosters under his bid.  The post In Russia, anti-war candidate tries to harness protest vote against Putin  appeared […]

Reuters exclusively reported that China’s major state-owned banks moved to support the yuan on Monday, tightening liquidity in the offshore foreign exchange market while actively selling U.S. dollars onshore as equities slid.  The post China moves to support yuan as stock markets tumble appeared first on Reuters News Agency.

Reuters exclusively reported that Thailand’s central bank chief, under fire from the prime minister for not cutting rates, said slower-than-expected economic growth was not a crisis as portrayed by the government, nor would it be revived by its quick-hit stimulus measures.  The post Thai central bank chief says current policy rate neutral, economy not in […]

Reuters exclusively reported that China’s securities regulators have asked some hedge fund managers to restrict short selling in its stock index futures market, as authorities seek to stabilise sinking stocks.  The post China regulators ask funds to curb short selling of stock index futures  appeared first on Reuters News Agency.

Reuters exclusively reported that Tesla (TSLA.O), opens new tab has told suppliers it wants to start production of a new mass market electric vehicle codenamed “Redwood” in mid-2025.  The post Tesla plans to build new electric vehicles in mid-2025  appeared first on Reuters News Agency.