South Korea unveils prototype of KF-X fighter jet
SEOUL (Reuters) – South Korea on Friday unveiled the first prototype of the KF-X fighter jet it is developing with Indonesia, amid lingering uncertainty over the future of Jakarta’s role in the project. The next-generation aircraft being developed by Korea Aerospace Industries Ltd (KAI) is designed to be a cheaper, less-stealthy alternative to the U.S.-built […]
Toshiba chairman issues cautious statement on CVC’s take-private offer
TOKYO (Reuters) -The chairman of Toshiba Corp’s board on Friday issued a statement on CVC Capital Partners’ recent offer to take the company private, saying it was unsolicited and that a deal would require various antitrust approvals and financing. “This initial proposal by CVC was completely unsolicited and not initiated by Toshiba,” board chairman Osamu […]
Exclusive: Roughly 500 ballots challenged in Amazon’s landmark union election
(Reuters) – Roughly 500 ballots submitted in Amazon.com Inc’s landmark union election have been challenged in a contest that will determine whether an Alabama warehouse becomes the online retailer’s first organized workplace in the United States, people familiar with the matter said. With about half of roughly 3,200 ballots counted, the election is currently poised […]
Asia shares loiter as S&P futures climb fresh peak
SYDNEY (Reuters) – Asian share markets lagged on Thursday as U.S. stock futures nudged to another record high after the Federal Reserve underlined its commitment to keeping policy super loose even as the economy enjoys a rapid recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, and also little changed on the week. […]
Analysis: High stakes at sea in global rush for wind power
LONDON(Reuters) – Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names are familiar too as global oil majors move aggressively into renewable energy. The drive among top fossil fuel producers to make fast inroads […]
CEO Mary Barra bets GM can grow beyond cars and trucks
(Reuters) – Pam Fletcher wants to change the way General Motors Co makes money. The veteran GM engineer’s Global Innovation team is looking for new enterprises to expand the automaker’s sources of revenue well beyond vehicle sales and is incubating ventures from commercial delivery services to vehicle insurance, to address future markets worth an estimated […]
Shell expects at best steady fuel sales for first quarter
LONDON (Reuters) – Royal Dutch Shell expects its fuel sales to fall or at best be broadly steady for the first quarter as some coronavirus restrictions ease, the world’s biggest fuel retailer said in a trading update on Wednesday. Shell said it saw refined oil product sales at 3.7-4.7 million barrels per day (bpd) for […]
Swiss watchmakers go digital to show off new products, revive sales
ZURICH (Reuters) – Luxury Swiss watchmakers, usually not big fans of online retailing, are launching a new all-digital Watches & Wonders event on Wednesday to show off their latest products, hoping to revive sales hit by the coronavirus crisis. Makers of high-end watches still largely rely on physical stores for sales, but the success of […]
Deliveroo ticks up as retail investors join trading
LONDON (Reuters) -Deliveroo shares opened slightly higher on Wednesday, the first day when retail investors were allowed to trade stock bought during the food delivery group’s initial public offering (IPO). At 0730 GMT on its first day of unrestricted trading, shares were up 2.7% at 287.7 pence, but still about 25% lower than the IPO […]
Exclusive-HSBC moves more than 1,200 UK staff to permanent home working
LONDON (Reuters) – HSBC is moving more than 1,200 staff in Britain to permanent working from home contracts, in one of the strongest indications yet of how banks are locking in changes to employees’ work patterns as a result of the pandemic to cut costs. Around 70% of the bank’s 1,800 call centre staff based […]
