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May 24, 2022

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Factbox: The Great Rebrand: Western business reborn in Russia under new names

Reuters
May 20 (Reuters) – McDonald’s Corp (MCD.N) is selling its restaurants in Russia to one of its current local licensees, who will reopen the branches under a new name yet to be decided – the most high-profile rebranding so far of companies extricating themselves from Russia. read more Scores of......

U.S. importers turn to prayer and the President as West Coast port labor talks begin

Reuters
Crude tankers are shown at the port of Long Beach, California, U.S., March 8, 2022. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register LOS ANGELES, May 10 (Reuters) – For more than two years, Isaac Larian has used every available tool to overcome global supply-chain bottlenecks and......

U.S. LNG exports decrease, Europe remains top destination

Reuters
An LNG tanker is guided by tug boats at the Cheniere Sabine Pass LNG export unit in Cameron Parish, Louisiana, U.S., April 14, 2022. REUTERS/Marcy de Luna Register now for FREE unlimited access to Reuters.com Register HOUSTON, May 2 (Reuters) – U.S. exports of liquefied natural gas (LNG) fell about......

China March new home prices stall again as COVID damps sentiment

Reuters
A worker walks on scaffolding at a construction site in Shanghai, China January 14, 2022. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register New home prices unchanged month-on-month in March Price growth flat on month for second time in a row New home prices grew at slowest......

Vietnam’s VinFast seeks US government loans for expansion

Reuters
The VinFast logo is displayed on a VF5 electric SUV during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 5, 2022. REUTERS/Steve Marcus/File Photo Register now for FREE unlimited access to Reuters.com Register April 9 (Reuters) – The chairman of Vietnam’s Vingroup conglomerate said......

New York AG seeks to compel real estate firm to comply with Trump probe subpoenas

Reuters
NEW YORK, April 8 (Reuters) – New York state’s attorney general is seeking to compel real estate company Cushman & Wakefield (CWK.N) to comply with subpoenas in connection with its civil probe into the Trump Organization, according to court filings on Friday. Attorney General Letitia James has been investigating former......

British insurer Aviva becomes second FTSE firm with female CEO, CFO

Reuters
The Aviva logo sits outside the company head office in the city of London, Britain March 7, 2019. REUTERS/Simon Dawson Register now for FREE unlimited access to Reuters.com Register Aviva names Charlotte Jones as CFO Second FTSE 100 firm after Natwest to have women CEO, CFO Jones will replace Jason......

Kaisa becomes latest China developer to delay earnings results; shares slide

Reuters
HONG KONG, March 23 (Reuters) – Cash-strapped Kaisa Group Holdings Ltd (1638.HK) has joined a growing list of Chinese property developers unable to publish 2021 audited earnings by March 31 as required by listing rules, deepening market concern about the sector’s financial health. Kaisa late on Tuesday said a virus......

China Evergrande, units unable to publish annual results by March 31

Reuters
HONG KONG, March 22 (Reuters) – China Evergrande Group (3333.HK) said on Tuesday the embattled developer would not be able to publish its financial results for last year by March 31 as required by stock listing rules because audit work has not been completed. Evergrande said in a stock exchange......

Trading in China Evergrande shares, onshore bonds halted pending announcement

Reuters
The China Evergrande Centre building sign is seen in Hong Kong, China December 7, 2021. REUTERS/Tyrone Siu Register now for FREE unlimited access to Reuters.com Register HONG KONG, March 21 (Reuters) – Shares of embattled property developer China Evergrande Group (3333.HK) and onshore bonds issued by its flagship unit Hengda......

Buttressing Greenland – a bailout in China’s distressed property sector

Reuters
SHANGHAI/HONG KONG, March 16 (Reuters) – Greenland Holdings Corp Ltd (600606.SS), a major Shanghai-based Chinese state-backed property developer responsible for marquee projects at home and abroad, was scrambling for funds late last year, people with direct knowledge of the matter said. In danger of defaulting on a $500 million offshore......

Hong Kong leader Lam says city not yet past COVID peak

Reuters
Hong Kong Chief Executive Carrie Lam speaks during a news conference at the government headquarters in Hong Kong, China March 9, 2022. Peter Parks/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register HONG KONG, March 12 (Reuters) – Hong Kong reported 27,647 new COVID-19 cases on Saturday,......

Deals of the day Mergers and acquisitions

Reuters
Feb 28 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Monday: **Bank of Nova Scotia (BNS) (BNS.TO) said it has agreed to acquire Chilean holding firm Grupo Said’s 16.8% stake in Scotiabank Chile in a stock and cash deal valued at approximately C$1.3......

China’s Zhenro Properties slumps after debt warning

Reuters
HONG KONG/SHANGHAI, Feb 21 (Reuters) – Shares and international bonds of Zhenro Properties (6158.HK) slumped further on Monday after it said existing internal resources might be insufficient to repay debt due in March. The comment was contrary to a previous commitment to redeem a $200 million perpetual bond due on......

Hong Kong ramps up isolation facility plans as COVID infections climb

Reuters
HONG KONG, Feb 19 (Reuters) – Hong Kong reported 6,063 new COVID-19 cases on Saturday, as the the city’s government made more plans for isolation facilities to take some strain off a healthcare system as infections have risen by more than 60 times since the month began. City leader Carrie......

British warehousing firm Segro rides surge in demand for quick delivery

Reuters
Feb 18 (Reuters) – British warehousing firm Segro (SGRO.L) said on Friday the growing popularity of rapid delivery services is fuelling strong demand across its markets after it reported a 20% jump in annual profit, sending its shares about 4% higher. The boom in e-commerce during the pandemic is also......

Zillow shares surge as home segment boosts revenue

Reuters
FILE PHOTO – A “For Rent” sign is placed in front of a home in Arlington, Virginia, U.S., June 8, 2021. Picture taken June 8, 2021. REUTERS/Will Dunham Register now for FREE unlimited access to Reuters.com Register Feb 11 (Reuters) – Shares of Zillow Group Inc (ZG.O) rose 13% on......

Chinese developer Shimao shares rise nearly 5% after more asset disposals

Reuters
The logo of property developer Shimao Group is seen on the facade of Shimao Tower in Shanghai, China January 13, 2022. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register HONG KONG, Jan 31 (Reuters) – Shares of cash-strapped Shimao Group (0813.HK) rose on Monday after the Chinese......

China’s Evergrande seeks legal advice over HK rural plot

Reuters
HONG KONG, Jan 30 (Reuters) – China Evergrande Group said on Sunday that recievers have been appointed for a plot of undeveloped land in Hong Kong’s rural Yuen Long district, in the latest development to hit the debt-laden developer. A source with direct knowledge said the creditor is Oaktree. However......

French power output reduced by ongoing strike

Reuters
A banner is seen on a fence at France’s oldest Electricite de France (EDF) nuclear power plant near the eastern French village of Fessenheim, France February 20, 2020. The banner reads: “No! To closing Fessenheim”. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Reuters.com Register PARIS, Jan 26 (Reuters)......

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