By David Shepardson and Tiyashi Datta (Reuters) -Lordstown Motors warned on Monday it might be forced to file for brankruptcy due to uncertainty over a $170 million investment deal with its major shareholder Foxconn, sending shares of the Ohio-based electric truck maker down 23%. Foxconn struck a deal in November to take a near-20% stake …
Lordstown shares dive 23% as investor Foxconn alleges agreement breach Read More »
By Leika Kihara and Jihoon Lee INCHEON, South Korea (Reuters) -Asian finance leaders will on Tuesday look for ways to tighten safeguards to address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. The impact of U.S. interest rate increases on the region’s capital …
Asian finance leaders look to improve market safeguards Read More »
By Praveen Menon and Roushni Nair SYDNEY (Reuters) -Australia’s flagship carrier, Qantas Airways Ltd, on Tuesday named finance chief Vanessa Hudson as its next chief executive officer, making her the first woman to lead the century-old airline. Hudson will in November take over from Alan Joyce, whose 15 years in the job has made him …
Qantas picks first female CEO to lead the airline Read More »
(Reuters) – Hong Kong leader John Lee said the city’s economy grew 2.7% in the first quarter of 2023, ahead of official data due to be released at 0830 GMT on Tuesday, snapping four consecutive quarters of contraction. “GDP growth in the second quarter will be better than the first quarter,” Chief Executive John Lee …
Hong Kong leader says Q1 GDP grew 2.7% year-on-year Read More »
By Ben Kellerman and Doyinsola Oladipo NEW YORK (Reuters) – American basketball star Brittney Griner stepped onto the red carpet at the star-studded Met Gala on Monday, embracing a larger spotlight months after returning home from detention in a Russian penal colony. The twice Olympic champion has pledged to advocate for the release of other …
Griner embraces growing platform at Met Gala months after return from Russia Read More »
By Jeff Mason, Trevor Hunnicutt and David Brunnstrom WASHINGTON (Reuters) -President Joe Biden told his counterpart Ferdinand Marcos Jr. on Monday that the U.S. commitment to the defense of its ally was “ironclad,” including in the South China Sea where Manila is under pressure from China. Marcos, on the first White House visit by a …
Amid China pressure, US and Philippines recommit to security alliance Read More »
By Leika Kihara and Jihoon Lee INCHEON, South Korea (Reuters) -Japan and South Korea held their first bilateral finance leaders’ meeting in seven years on Tuesday, a sign relations between the two are thawing amid shared challenges from geopolitical tensions and slowing economic growth. The resumption of bilateral financial talks comes ahead of Japanese Prime …
Japan, South Korea hold first finance leaders’ meeting in 7 years Read More »
KYIV (Reuters) -Ukrainian units have ousted Russian forces from some positions in Bakhmut amid fierce battles, a top Ukrainian general said on Monday, as the White House believes that more than 20,000 Russian fighters have been killed in Ukraine since December. “The situation (in Bakhmut) is quite difficult,” Col. Gen. Oleksandr Syrskyi, the Ukrainian commander …
Ukrainian defenders oust Russian forces from some positions in Bakhmut -Ukraine general Read More »
By Choonsik Yoo SEOUL (Reuters) -South Korea’s consumer inflation eased for a third consecutive month to a 14-month low in April and the central bank expects the downward trend to persist for some time, supporting the market’s view that its policy tightening cycle is over. The consumer price index (CPI) stood 3.7% higher in April …
South Korea inflation hits 14-month low, backs view rate-hike cycle is over Read More »
SEOUL (Reuters) – South Korean President Yoon Suk Yeol said on Tuesday that a planned nuclear consultative group and new partnerships on supply chains and science and technology are an “upgrade” to the country’s alliance with the United States. Yoon held a summit with U.S. President Joe Biden in Washington last week, during which they …
South Korea’s Yoon says nuclear consultative group upgrades U.S. alliance Read More »
