OPEC+ discusses making another large output hike in July
OPEC+ members are discussing whether to agree on another large production increase at their meeting on June 1, Bloomberg News reported on Thursday.An output hike of 411,000 barrels a day (bpd) for July is among the options under discussion, although no final agreement has yet been reached, the report said, citing delegates.Reuters has previously reported […]
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India markets regulator working with NSE to resolve outstanding issues for IPO
India’s markets regulator is working with the National Stock Exchange of India to resolve outstanding issues for its initial public offering, Securities and Exchange Board of India Chairman Tuhin Kanta Pandey said on Thursday.NSE, the world’s largest derivatives exchange, has been trying to go public since 2016 but has failed to secure regulatory nod due […]
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BOJ policymaker rules out intervention to stem bond yield spike
Rise in super-long yields ‘rapid but not abnormal’, Noguchi saysBOJ should pause on rate hikes until uncertainty clearsNo need for major change in existing taper plan through MarchBOJ’s taper plan should focus on avoiding market disruptionBank of Japan board member Asahi Noguchi said on Thursday he saw no need for the central bank to intervene […]
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Telecoms group Iliad posts profit boost on subscriber growth in Italy
French telecommunications group Iliad reported a 6% rise in its quarterly core profit on Thursday, helped by a strong performance in Italy and despite a tax hike on network companies in France.The group’s earnings before interest, taxes, depreciation and amortisation after leases (EBITDAal) – a core operating earnings measure used by many European telcos – […]
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Illegal logging in rebel-held Congo threatens gorillas, alarms environmentalists
Tropical forests in eastern Congo that fell into rebel hands this year have seen a spike in illegal logging to produce charcoal and timber, residents and environmentalists said, raising fears of large-scale degradation.The Kahuzi-Biega National Park is a UNESCO World Heritage site west of Bukavu, the second-largest city in eastern Congo, which was seized by […]
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UK gas producer Energean cuts production outlook, seeks deals to bolster output
British gas producer Energean narrowed its annual production forecast on Thursday and said it was actively looking for merger and acquisition prospects after its failed deal to sell some assets to private equity fund CarlyleIn March, Energean scrapped a deal to sell its Egypt, Italy and Croatia portfolio to Carlyle due to delays in obtaining […]
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Walmart plans job cuts in restructuring push to simplify operations
U.S. retail bellwether Walmart is planning to cut about 1,500 jobs as part of a restructuring push to simplify its operations, according to a memo seen by Reuters.The company’s plan will impact teams in its global technology operations, e-commerce fulfillment in U.S. stores and its advertising business Walmart Connect.“To accelerate our progress delivering the experiences […]
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Aid trucks enter Gaza after delays, as pressure mounts on Israel
Israel says 100 trucks enter on WednesdayUN officials say aid has so far not reached people in needGaza bakers say they are still waiting for flourOpposition leader says Israel risks becoming a pariahIsrael allowed 100 aid trucks carrying flour, baby food and medical equipment into the Gaza Strip on Wednesday, the Israeli military said, as […]
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UK’s Johnson Matthey sells unit to Honeywell for $2.4 billion
British chemicals firm Johnson Matthey has agreed to sell its division that houses technologies to make sustainable fuels to Honeywell International for 1.8 billion pounds ($2.4 billion), including debt.The unit, known as Catalyst Technologies, designs and manufactures catalysts for the energy and chemicals industries, used in the production of sustainable aviation fuel, fertilizers, paints, and […]
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India’s Bajaj Auto to take control of KTM with $906 million debt deal
India’s Bajaj Auto plans to take control of KTM AG as part of an 800 million euro ($906.2 million) debt package aimed at reviving the troubled Austrian motorcycle maker, it said on Thursday.The move will see the ‘Pulsar’ motorcycle manufacturer, which has been a minority investor in KTM since 2007, shift from a dormant stakeholder […]
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