Chinese property developer Shimao misses repayment on $1 billion bond

Chinese property developer Shimao misses repayment on $1 billion bond

HONG KONG, July 3 (Reuters) – Chinese property developer Shimao Group (0813.HK) has missed the interest and principal payment of a $1 billion offshore bond due on Sunday, in the latest blow to China’s embattled property market. The non-repayment was the first missed public offshore payment for the Shanghai-based developer. With an outstanding $6.1 billion … Read more

Russia seizes control of Sakhalin gas project, raises stakes with West

Russia seizes control of Sakhalin gas project, raises stakes with West

Putin signed decree to secure all rights on Thursday Five-page decree follows tightening Western sanctions Move raises risks for Western firms still in Russia Shell was already in talks to sell up Sakhalin stake TOKYO/LONDON, July 1 (Reuters) – President Vladimir Putin has raised the stakes in an economic war with the West and its … Read more

Buffett’s Berkshire buys more Occidental shares, raises stake to about 16.4%

Buffett's Berkshire buys more Occidental shares, raises stake to about 16.4%

June 28 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Monday it has purchased another 794,389 shares of Occidental Petroleum Corp (OXY.N), giving the conglomerate a nearly 16.4% stake in the Houston, Texas-based oil company. The purchases were made in multiple transactions and cost about $44 million, Berkshire said in a regulatory filing. … Read more

Bankman-Fried’s FTX says no talks to acquire Robinhood

Bankman-Fried's FTX says no talks to acquire Robinhood

The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s IPO in New York City, US, July 29, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register June 27 (Reuters) – Sam Bankman-Fried’s FTX crypto exchange said it is not in talks to acquire … Read more

Stocks swing higher as China eases quarantine rules

Stocks swing higher as China eases quarantine rules

A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying graphs (top) of Nikkei index outside a brokerage in Tokyo, Japan, March 10, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com Register HONG KONG, June 28 (Reuters) – Asian shares swung into positive territory … Read more

Credit Suisse found guilty in cocaine cash laundering case

Credit Suisse first major Swiss bank to face criminal trial Former banker found guilty of qualified money laundering Bank plans to appeal BELLINZONA, Switzerland, June 27 (Reuters) – Credit Suisse (CSGN.S) was convicted by Switzerland’s Federal Criminal Court on Monday of failing to prevent money-laundering by a Bulgarian cocaine trafficking gang in the country’s first … Read more

French energy giants urge consumers to cut energy use

French energy giants urge consumers to cut energy use

A couple of stork stands in a nest on the top of a pylon of high-tension electricity power lines in front of a smoke stack of the Electricite de France (EDF) coal-fired power plant of Cordemais in Bouee, France, February 25, 2022. REUTERS/Stephane Mahe Register now for FREE unlimited access to Reuters.com Register PARIS, June … Read more

Exclusive: After pressure from Toyota chief, Japan emphasized support for hybrids

Exclusive: After pressure from Toyota chief, Japan emphasized support for hybrids

TOKYO, June 24 (Reuters) – Toyota Motor Corp’s (7203.T) chief lobbied the Japanese government to make clear it supported hybrid vehicles as much as battery electrics or face losing the auto industry’s support, a senior lawmaker told a ruling party meeting. The lobbying by Akio Toyoda, president of Toyota and chairman of the Japan Automobile … Read more

Stock rally fizzles on revived inflation fears

Stock rally fizzles on revived inflation fears

Employees of the foreign exchange trading company Gaitame.com work in front of monitors showing the Japanese yen exchange rate against the US dollar, the euro and Nikkei share average at its dealing room in Tokyo, Japan June 22, 2022. REUTERS/Issei Kato Register now for FREE unlimited access to Reuters.com Register TOKYO, June 22 (Reuters) – … Read more