South Korea’s LG becomes first major smartphone brand to withdraw from market
SEOUL (Reuters) – South Korea’s LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10% share in North America, where it […]
GameStop plans $1 billion stock sale, shares slide
(Reuters) – GameStop Corp shares fell 12% on Monday after the video game retailer said it may sell up to $1 billion worth of stock as it takes advantage of a dizzying rally in its shares this year on the back of a Reddit-driven retail trading frenzy. The company said it would sell up to […]
SoftBank to lead nearly $1.2 billion investment in diagnostics firm Invitae
(Reuters) -Invitae Corp said on Monday a group of investors including SoftBank Group Corp will invest $1.15 billion in the U.S. genetic diagnostics company. It said the investment, to be used for its growth initiatives, will be in convertible senior notes, which will bear 1.5% interest per year. The company said the notes will have […]
Japan’s Mizuho says to revise contingency plan for system failure after recent glitches
TOKYO (Reuters) -Mizuho Financial Group Inc will revise its contingency plan for a system failure by the end of June, the lender said on Monday, after it suffered four system glitches during a two-week period from February to March. Mizuho, Japan’s third largest lender by assets, will hold a news briefing at 0900 GMT, which […]
Exclusive: South Korea steel giant POSCO weighs how to exit Myanmar military-backed venture – sources
SEOUL (Reuters) – Giant South Korea steelmaker POSCO has begun reviewing how it might end a joint venture with a firm controlled by the military in Myanmar in the wake of the coup there in February, two people with first-hand knowledge of the matter told Reuters.
U.S. says 165 million doses of COVID-19 vaccine been administered so far
(Reuters) – The United States has administered more than 165 million doses of COVID-19 vaccines in the country as of Sunday morning and distributed nearly 208 million, the U.S. Centers for Disease Control and Prevention (CDC) said on Sunday. That is up from the 161,688,422 vaccine doses the CDC said had gone into arms by […]
Oil drops below $64 as rising OPEC+, Iranian output weighs
LONDON (Reuters) – Oil fell to below $64 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States and expectations of a wider demand recovery in 2021. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on […]
Brazil hopes veterinary facilities can help increase COVID-19 vaccine output
SAO PAULO (Reuters) – Brazil hopes to use veterinary facilities to increase COVID-19 vaccine output, authorities said on Saturday, as the country accounts for the world’s worst daily death tolls and its vaccination efforts lag. Brazil already makes or finishes coronavirus vaccines at its two main public health institutes, although those efforts have not been […]
Electric vehicles to dominate line up at Toyota’s Lexus by 2025
TOKYO (Reuters) – Lexus, a luxury auto brand owned by Toyota Motor Corp, said on Tuesday it plans to introduce 20 new or improved models by 2025, of which more than 10 will be electric. Electrified models such as battery electric vehicles (BEV), plug-in hybrids and hybrid electric cars will be introduced, the company said […]
Deliveroo IPO puts London’s tech credentials to the test
LONDON (Reuters) -When food delivery firm Deliveroo joins the London stock market on Wednesday, it will be Britain’s biggest listing in a decade, even though some of the country’s leading investors – worth over $1 trillion between them – will be conspicuous by their absence. British Finance Minister Rishi Sunak has hailed the company’s decision […]
