TOKYO (AP) — Nissan and Renault have changed their mutual cross-shareholdings equal at 15%, ironing out a source of conflict in the Japan-French auto alliance, both sides said Monday. Up to now, Renault Group has held a 43.4% stake in Nissan Motor Co., potentially giving it a larger say in how the company is run. It will transfer shares equivalent to a 28.4% stake to a French trust, so it will hold a 15% stake in Nissan, just as Nissan holds 15% of the French automaker, according to the companie
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.
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.
More than 30 years ago, some relatively youthful central bank and Treasury economists in New Zealand were grappling with how to bring two decades of double-digit inflation under control in an economy less than 1% the size of its U.S. counterpart. "It was a bit of a shock to everyone, I think," said Roger Douglas, the Labour Party finance minister at the time who worked with the Treasury and Reserve Bank of New Zealand (RBNZ) to pioneer the policy. Like that, inflation targeting was born.
AMSTERDAM (Reuters) -Dutch health technology company Philips will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the safety of its products following a recall of respiratory devices that knocked off 70% of its market value. The new reorganisation brings the total amount of job cuts announced by new Chief Executive Roy Jakobs in recent months to 10,000, or around 13% of Philips' current workforce. Philips shares traded up 5.5% at 0855 GMT, helped by fourth-quarter earnings which were much better than expected.
Susannah Pierce and Murad Al-Katib: 100 days after task force identified crisis, businesses are still waiting for action from Ottawa
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.
BANGKOK (AP) — European shares retreated Monday after a mixed session in Asia as attention turned to Wednesday’s decision by the Federal Reserve on interest rates. A report Friday showed that U.S. inflation is continuing to cool, raising hopes for a smaller increase that’s less painful than last year’s aggressive hikes. The measure the Fed prefers, which doesn’t count food and energy costs, was 4.4% higher in December than a year earlier. That was down from 4.7% inflation in November. Germany's
Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech"), GP Papenburg Entsorgungs Ost GmbH ("Papenburg" or "GP Papenburg") and Schwenk Zement GmbH & Co.KG ("Schwenk" or "Schwenk Zement") have signed a Memorandum of Understanding in January in preparation for the commercial use of by-products from lithium production. The aim is to adopt the processes previously developed by the jointly founded Lithium Institute (ITEL) by the end of 2023 and thus
German arms maker Rheinmetall had a record year in 2022 and is approaching an order backlog of 30 billion euros, CEO Armin Papperger told Reuters in an interview. "We are approaching an order backlog of 30 billion euros, and I expect to see an order backlog of 40 billion euros next year," said the CEO of the company, which sells a whole range of defence products but is probably most famous for supplying the 120mm gun of the Leopard 2 tank. Papperger said he expected to see at least 15% to 20% growth in Rheinmetall's defence division over the coming years, with the civilian business likely to account for only 20% of sales in 2025.
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.
Analysts at the British investment bank, led by Emmanuel Cau, upgraded the European banking sector to "overweight" from "market weight" and downgraded the utilities sector to "underweight". "Given the move in rates thus far, banks are enjoying positive earnings momentum," Barclays said. The brokerage added that moves were part of its shift to cyclical exposure for European equities from a prior defensive position as it sees better macro conditions and the energy crisis slowing down this year.
Today, Canada Post unveiled a new Black History Month stamp honouring Chloe Cooley, who had a profound impact on the history of enslavement in Canada. Her act of resistance on the evening of March 14, 1793, ushered in legislation that would lead to the gradual abolition of enslavement in Upper Canada and provide a refuge for freedom-seekers from abroad.
Ottawa's inconsistent commitment to fiscal prudence is beginning to trouble some members of the Liberal family
Top central bankers, who credit the use of a 2% inflation target with anchoring decades of stable prices, are facing the first full-on test of how well that approach to monetary policy works once prices have erupted, and how strictly they'll enforce it if damage to their economies intensifies. By announcing an inflation goal, central bankers feel they build credibility for themselves and focus the planning of households and firms in ways that help keep inflation controlled. It's a concept that seemed supported by the facts as the use of inflation targeting spread across the developed world from New Zealand in 1990 through Europe and to the United States and Japan in 2012 and 2013.
China's smartphone sales endured a record fall in 2022, tumbling 13% to their lowest level in a decade as COVID controls and a slowing economy sapped consumer appetite, data from third-party research firms showed. "The strict pandemic control poicy has resulted in historically high household savings as consumer spending became conservative," said Lucas Zhong, who tracks China's smartphone sector for research firm Canalys. Apple Inc was the third best-selling phone brand in 2022, tied with Oppo, moving up from fourth place in the previous year.
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
It is with much sadness and a very heavy heart that the City of Mississauga announces the passing of former mayor and the City's biggest champion, Hazel McCallion. She passed away peacefully shortly after 6:30 a.m. today, January 29, 2023 at home with her family by her side. Hazel McCallion was 101 years old.
The recent bear market has created some incredible bargains, especially for those looking for passive income. Here are four cheap stocks to consider. The post 4 Insanely Cheap Canadian Stocks to Buy for Passive Income appeared first on The Motley Fool Canada.
Since the pandemic started, the market has been saturated with new streamers. Here are some streaming stocks to buy now. The post 2 Streaming Stocks to Buy Now and 1 to Run Away From appeared first on The Motley Fool Canada.