BEIJING/SHANGHAI (Reuters) - China's Baidu Inc (NASDAQ:BIDU) and automaker Geely hired Mobike co-founder and former chief technology officer Xia Yiping as chief executive of their new electric vehicle venture, the search engine giant said on Monday. Baidu last month had announced it would set up a company with Zhejiang Geely Holding Group to...
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By Paulina Duran and Jonathan Barrett SYDNEY (Reuters) - Macquarie Group lifted its profit guidance on Monday, sending shares to 12-month highs, as its large North American energy business profits from the winter storms sweeping across Texas and other states. Macquarie said it expects its fiscal 2021 profit to jump by as much as 10%, after warning just two weeks ago that...
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WASHINGTON (Reuters) - The U.S. Federal Aviation Administration said on Sunday it is issuing an emergency airworthiness directive following an engine failure of a United Boeing (NYSE:BA) 777 in Denver, requiring immediate or stepped-up inspections of similar planes. FAA Administrator Steve Dickson said in a statement late Sunday the directive covers Boeing 777 airplanes equipped with certain Pratt & Whitney PW4000 engines...
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By Sam Nussey and Joyce Lee TOKYO/SEOUL (Reuters) - SoftBank's $100 billion Vision Fund is poised to have a new number-one asset in its portfolio with the upcoming floatation of top South Korean e-tailer Coupang, furthering a turnaround that has seen the fund yo-yo from huge losses to record profit. The $50 billion target valuation that Reuters reported this month would likely...
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SYDNEY (Reuters) - Australia will not change proposed laws that would make Alphabet (NASDAQ:GOOGL) Inc's Google and Facebook (NASDAQ:FB) pay news outlets for content, a senior lawmaker said on Monday, despite vocal opposition from the Big Tech firms. Facebook has strongly protested the laws and last week abruptly blocked all news content and several state government and emergency department accounts. The social...
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MEXICO CITY (Reuters) - The Mexican unit of Volkswagen (DE:VOWG_p) AG will resume production of its Tiguan sports utility vehicle on Monday evening, the company said in a statement on Sunday, following gas shortages that hit swathes of Mexico last week. Meanwhile, Audi will resume normal production levels at its plant in...
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By Jamie Freed and David Shepardson (Reuters) - U.S. regulators announced extra inspections on Boeing (NYSE:BA) Co 777 jets using the same type of engine that shed debris over Denver on Saturday, while Japan went further and suspended their use while it considers what action to take. The regulatory moves involving Pratt & Whitney 4000 engines came after a United Airlines 777...
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By Joice Alves LONDON (Reuters) - Global dividend payments could rebound by as much as 5% this year, a new report estimated on Monday, after the coronavirus caused the biggest slump in payouts since the financial crisis more than a decade ago. Companies' payouts to shareholders plunged more than 10% on an underlying basis in 2020 as one in five cut...
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By Wayne Cole SYDNEY (Reuters) - Asian share markets inched higher on Monday as expectations for faster economic growth and inflation globally batter bonds and boost commodities, though rising real yields also make equity valuations look more stretched in comparison. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1%, after easing from a record top late last week as the jump...
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(Reuters) - Opponents of Myanmar's military coup called a general strike and more street protests on Monday as authorities threatened that confrontation could cost lives after two protesters were shot dead at the weekend. Despite deploying more forces and promising to hold a new election, the generals have failed to stop more than two weeks of daily protests and a civil disobedience...
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