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Honda CEO touts EVs, but combustion engines could last until 2040

By Paul Lienert MARYSVILLE, Ohio (Reuters) – Honda Motor Co is moving rapidly to catch up with electric-vehicle competitors in global markets, but the company’s top executive said combustion engines could last through 2040 and beyond. Regarding the Japanese automaker’s accelerating transition to EVs, Chief Executive Toshihiro Mibe said, “I’ve been in the engine development …

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Blast at Shell’s Nigeria oil pipeline kills 12 – police

By Tife Owolabi EMOHUA, Nigeria (Reuters) -An explosion on a Nigerian oil pipeline owned by Shell killed at least 12 people on Friday, authorities at the scene said, while members of the affected community in Emohua said they feared many more had died in the blast. A spokesperson for Shell Petroleum Development (SPD) company of …

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Private equity firms lend less as demand cools

By Chibuike Oguh (Reuters) – Private equity firms that have for years capitalized on the regulatory woes of banks by becoming lenders to risky leveraged buyouts are doing less business just as higher interest rates have made that practice more lucrative. Buyout firms with direct lending businesses, such as Blue Owl Capital Inc, Blackstone Inc …

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Court decision paves way for K-pop powerhouse HYBE’s takeover of SM

By Hyunsu Yim SEOUL (Reuters) -A South Korean court on Friday granted an injunction filed by SM Entertainment founder Lee Soo-man against the acquisition of SM shares by Kakao Corp, Lee’s lawyers said, potentially paving the way for SM’s takeover by K-pop agency HYBE. Kakao had bid to take a 9.05% stake in the K-pop …

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UK’s King Charles to make first state visits as monarch to France, Germany

By Michael Holden LONDON (Reuters) -King Charles will travel to France and Germany on his first state visits since succeeding his mother Queen Elizabeth as British monarch last September, Buckingham Palace said on Friday. Charles will address the chambers of both European neighbours’ parliaments in a first for a British monarch during his busy five-day …

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South African rand firms with strong Chinese data, higher PMI

JOHANNESBURG (Reuters) -South Africa’s rand firmed on Friday, helped by strong Chinese data and a positive PMI return that showed South Africa’s private sector activity recovering from a downturn. At 15:14 GMT, the rand traded at 18.1425 against the dollar, about 0.4% stronger than its previous close. The dollar was down about 0.1% against a …

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Some Congolese protest and question motives of Macron visit

By Benoit Nyemba and Djaffar Al Katanty KINSHASA/GOMA Democratic Republic of Congo (Reuters) – Shouting through megaphones, a dozen Congolese anti-French protesters waylaid commuters on a busy road in the capital Kinshasa and passed out leaflets to boost opposition to a visit by French President Emmanuel Macron on Saturday. Their campaign was part of a …

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India cenbank imposes penalty on Amazon Pay for non-compliance

BENGALURU (Reuters) -The Reserve Bank of India said on Friday it had imposed a penalty of 30.7 million rupees ($374,770) on Amazon Pay Private Ltd for non-compliance with directions on prepaid payment instruments and Know Your Customer (KYC) rules. “This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon …

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Sri Lanka raises rates, relaxes currency band as it seeks to secure IMF bailout

By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) -Sri Lanka’s central bank raised interest rates on Friday to tackle inflation and said it would relax its currency band to move towards a market-determined exchange rate as it seeks to secure a bailout from the International Monetary Fund. The bank raised its standing deposit facility rate …

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In big power producer Norway, plans for greener industry meet resistance

By Victoria Klesty and Nora Buli PORSGRUNN, Norway (Reuters) – At Heroeya in southern Norway, the country’s biggest onshore industrial site is planning to go fully electric by replacing its use of natural gas with power from the grid, part of a nationwide push to cut the country’s CO2 emissions. But Oslo’s plan to electrify …

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