MOSCOW (Reuters) -Goldman Sachs Group Inc. has restructured its assets in Russia, the RBC daily reported on Monday, citing two investment market sources, a move that could take the U.S. bank closer to a full exit from the country. U.S. banks have cut exposure to Russia since it sent tens of thousands of troops into Ukraine last year, but foreign lenders require special permission from President Vladimir Putin to sell stakes. Goldman Sachs, which in March said it was winding down its business in Russia, in November said it had reduced its credit exposure to Russia by 9% to $205 million in the third quarter.
Enapter AG (ISIN:DE000A255G02), together with its partner YEST, has received an order from South Korea for the delivery of two AEM electrolysers with a total capacity of 2 megawatts. The systems will be used in a 12.5 MW hydrogen pilot project on Jeju Island. The demonstration project is supported by the South Korean Ministry of Industry and Trade (Motie) with 62 billion South Korean won (43.3 million US dollars) and aims to investigate and compare hydrogen production with different electrolysis
NEW DELHI (Reuters) -Gautam Adani faces a critical day on Monday with his flagship company's $2.5 billion share sale's second day of bidding overshadowed by a $48 billion rout in the Indian billionaire's stocks which was sparked by a U.S. short seller's report. Seven listed companies belonging to the Adani conglomerate, which is led by Asia's richest man, saw sharp falls in their values after Hindenburg Research report last week flagged concerns about high debt levels and the use of tax havens. Adani Group issued a detailed response late on Sunday, saying it complies with all local laws and had made necessary regulatory disclosures.
China's central bank said on Sunday it will roll over three lending tools to increase support for targeted sectors of the economy. The central bank will also extend a relending tool for the transport and logistics sector to June 2023, it said. Some foreign financial institutions will be included in the scope of the carbon reduction tool, the central bank said.
Outdoor Fitness officially arrives in Ontario! Outdoor Fitness was born from a franchise company already established in Quebec, known as Cardio Plein Air. In Quebec, it has 50 franchises and operates in over 160 parks. The mission is to provide access to all-season outdoor activities to ensure well-being while promoting physical activity.
TOKYO (AP) — Nissan and Renault have agreed to equalize the stakes they hold in each other, both sides said Monday, ironing out a source of conflict in the Japan-French auto alliance. Up to now, Renault Group has held a 43.4% stake in Nissan Motor Co., potentially giving it a larger say in how the Japanese automaker is run. It will transfer shares equivalent to a 28.4% stake to a French trust so each side will hold the same 15% stake in the other, according to the companies. The disparity betwee
SEATTLE/PARIS (Reuters) -Boeing's 747, the original and arguably most aesthetic "Jumbo Jet", revolutionized air travel only to see its more than five-decade reign as "Queen of the Skies" ended by more efficient twinjet planes. The last commercial Boeing jumbo will be delivered to Atlas Air in the surviving freighter version on Tuesday, 53 years after the 747's instantly recognizable humped silhouette grabbed global attention as a Pan Am passenger jet. "On the ground it's stately, it's imposing," said Bruce Dickinson, the lead singer of Iron Maiden who piloted a specially liveried 747 nicknamed "Ed Force One" during the British heavy metal band's tour in 2016.
The U.S. Treasury Department this week is likely to announce that it will offer fewer Treasury bills in the second quarter, after hitting its statutory borrowing limit. Any new indications over whether the Treasury could employ Treasury buybacks, or make changes to its auction schedule for some notes, will also be a focus of interest as market participants grapple with the best ways to improve liquidity in the $24 trillion Treasuries market. U.S. Treasury Secretary Janet Yellen activated a second extraordinary cash management measure on Tuesday, after previously warning that the Treasury could run out of funds in early June if the U.S. Congress does not approve an increase in the $31.4 trillion debt ceiling.
Clarity from Pfizer Inc this week on whether China's relaxation of its Zero-COVID policy and the surge in infections there will lead to a spike in demand for its antiviral Paxlovid could spur analysts to alter their 2023 sales forecasts for the treatment. China was an insignificant market for Paxlovid before the strict infection-control policy was lifted, but Pfizer Chief Executive Albert Bourla said the company has since distributed millions of Paxlovid treatment courses there through a deal with China's Meheco. Talks between Pfizer and China's government health insurer bogged down over price, and the drug is only covered by China's broad healthcare insurance plan until late March.
Susannah Pierce and Murad Al-Katib: 100 days after task force identified crisis, businesses are still waiting for action from Ottawa
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Incoming Unilever CEO Hein Schumacher gets seasick, according to his former boss at food group Heinz, but that never stopped him joining executive sailing trips and sticking them out. Schumacher, 51, is likely to need all his determination - as well as the experience he gained in food at Heinz and in retailing at Dutch grocer Ahold - when he takes the helm at Unilever from Alan Jope in July. Encouragingly for Schumacher, who worked as a finance manager at Unilever more than 20 years ago before heading to Ahold, he was warmly welcomed by activist investor and Unilever board member Nelson Peltz - who has a long track record of shaking up consumer goods companies, including Heinz.
MAËLYS, the leading prestige body care brand best known for its unparalleled approach to clinically-proven body care solutions, announces its arrival at one of Canada's most trusted beauty retailers, Shoppers Drug Mart. The brand is rolling out nationwide, both in stores and online at shoppersdrugmart.ca. This announcement marks an important milestone in the brand's retail expansion plans and will further complement MAËLYS' rapidly growing DTC channel. The expansion follows a very successful nat
Renault and Nissan hailed a new deal announced on Monday as a major step in reviving their two decade alliance. The deal, months in the making and still subject to board approvals, will see Renault reduce its stake in Nissan to 15% from around 43%. For Nissan, the advantages are clear: the Japanese carmaker gets much freer rein to do what it wants, and it is no longer in an alliance of unequal partners as capital ownership is rebalanced.
NEW YORK (AP) — Stocks sank Monday as Wall Street prepped for a week full of potentially market-moving events, from decisions on interest rates around the world to earnings reports from the biggest U.S. companies. The S&P 500 dropped 1.3%, giving back some of the gains that had carried it last week to its highest level since early December. The Dow Jones Industrial Average fell 260 points, or 0.8%, while the Nasdaq composite sank 2%. Markets have been veering recently on worries that the economy
(Reuters) -A U.S. appeals court upended Johnson & Johnson's attempt to offload into bankruptcy tens of thousands of lawsuits over its talc products, ruling the healthcare conglomerate improperly placed a subsidiary into Chapter 11 proceedings even though it did not face financial distress. The decision by the U.S. 3rd Circuit Court of Appeals in Philadelphia on Monday dismissed a Chapter 11 petition filed by a recently created J&J subsidiary in October to address more than 38,000 lawsuits from plaintiffs alleging the company’s baby powder and other talc products caused cancer. Before the bankruptcy, J&J faced costs from $3.5 billion in verdicts and settlements, including one in which 22 women were eventually awarded a judgment of more than $2 billion, according to bankruptcy-court records.
Philippines President Ferdinand Marcos has approved a value-added tax refund programme for foreign tourists by 2024 to attract more visitors, the Presidential Communications Office (PCO) said on Sunday. The government collects a 12% VAT on goods consumed within the Southeast Asian country. The plan is to allow foreigners to get a VAT refund on items they are taking out of the Philippines, similar to what many other countries offer.
Couche-Tard (TSX:ATD) stock could be in for more gains after delivering exceptional performance through 2022. The post Couche-Tard Stock: Will the Upswing Continue for This Hot 2022 Gainer? appeared first on The Motley Fool Canada.
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Cardinal Ethanol, LLC (Cardinal) and Vault 44.01 Ltd. (Vault) announced today that, through their affiliate companies, they have formed a joint venture to design, implement, and operate a carbon dioxide (CO2) capture and sequestration (CCS) project at Cardinal's ethanol production facility near Union City, Indiana. The joint venture is structured with each party controlling an equal interest in a newly formed limited partnership named One Carbon Partnership, LP.