Foxconn fine for unauthorised China investment likely to be imposed soon – source
Foxconn, the world’s largest contract electronics maker, is likely to be fined soon by Taiwan’s government for an unauthorised investment in a Chinese chip maker, a person with direct knowledge of the situation said on Monday.
U.S. finalizes $2.5 billion loan to GM, LG battery joint venture
The U.S. Energy Department said on Monday it had finalized a $2.5 billion low-cost loan to a joint venture of General Motors and LG Energy Solution to help pay for three new lithium-ion battery cell manufacturing facilities.
Exclusive: Temasek considers sale of Advanced MedTech, likely valued at about $1 bln – sources
Temasek Holdings is exploring selling Advanced MedTech, multiple sources told Reuters on Monday, after the medical devices firm, fully-owned by the Singaporean state investor, received interest from suitors including buyout funds.
WeWork to exit 40 U.S. locations to cut costs, revenue outlook disappoints
WeWork Inc said on Thursday it will exit about 40 locations across the United States and forecast current-quarter revenue below estimates as the flexible workspace provider faces high expenses and a strong U.S. dollar.
Kanye West to buy social media app Parler
American rapper Kanye West, who now goes by Ye, has proposed to buy Parler, the social media platform popular among U.S. conservatives, parent Parlement Technologies said on Monday.
Exclusive: India demands nearly $250 million from Pernod for undervaluing imports
Indian authorities have demanded $244 million from the local unit of French spirits giant Pernod Ricard for undervaluing concentrate imports for over a decade to avoid full payment of duties, a government notice seen by Reuters shows.
Gap posts surprise profit on Banana Republic boost; withdraws forecasts
Gap Inc (GPS.N) reported a surprise quarterly profit on Thursday on demand for dressier clothes at its Banana Republic brand, while an inventory glut and weak sales of outdated clothes prompted it to withdraw annual forecasts.
BNPL lender Affirm’s shares tumble after gloomy full-year revenue forecast
Shares of Affirm Holdings Inc (AFRM.O) tumble 13% in premarket trading on Friday after the buy-now-pay-later lender’s full-year revenue forecast missed Wall Street estimates, underscoring the broader downturn in the fortunes of the once high-flying fintech sector.
Canada’s TD, CIBC profits beat estimates; loan growth offsets higher costs, provisions
Toronto-Dominion Bank (TD.TO) and Canadian Imperial Bank of Commerce (CM.TO) posted better-than-expected third-quarter profits on Thursday, with the former driven by lower provisions for credit losses (PCL) than anticipated, and the latter’s due to better revenues than predicted.
Gas price surge, recession fears weigh on European shares
European shares slipped on Tuesday as investors fretted about soaring energy prices and a weak economic outlook after data showed business activity in the region contracted this month.
