The Philippines grants the US more access to bases amid concerns about China

The Philippines grants the US more access to bases amid concerns about China

Philippines, US agree to add four locations under EDCA Agreement comes about amid tensions in the South China Sea, over Taiwan EDCA allows US access to Philippine military bases MANILA, Feb. 2 (Reuters) – The Philippines has granted the United States expanded access to its military bases, its defense chiefs said on Thursday, amid mounting … Read more

Adani market losses snowball to $100 billion in delayed share sale

Adani market losses snowball to 0 billion in delayed share sale

NEW DELHI, Feb. 2 (Reuters) – Indian shares of the Adani group fell on Thursday after market turmoil forced the conglomerate to scrap a crucial $2.5 billion equity offer, extending market losses to more than $ 100 billion and concerns arose about the possible systemic impact. The pullback of the share sale of Adani Enterprises … Read more

Honda is starting production of a new hydrogen fuel cell system, co-developed with GM

Honda is starting production of a new hydrogen fuel cell system, co-developed with GM

TOKYO, Feb. 2 (Reuters) – Japan’s Honda Motor Co (7267.T) said it will begin production this year of a new hydrogen fuel cell system jointly developed with General Motors Co (GM.N) and sell will gradually ramp up this decade, in an effort to expand its hydrogen business. Honda is targeting annual sales of about 2,000 … Read more

Hindenburg bet against India’s Adani puzzles against US short sellers

Hindenburg bet against India’s Adani puzzles against US short sellers

Feb.1 (Reuters) – When Hindenburg Research revealed a short position in Adani Group last week, some US investors said they were intrigued by the actual mechanisms of the trade, as Indian securities rules make it difficult for foreigners to bet against companies there. Hindenburg’s bet has been lucrative so far. The allegations, which the Indian … Read more

Myanmar junta extends state of emergency on anniversary of coup marked by ‘silent protest’

Myanmar junta extends state of emergency on anniversary of coup marked by ‘silent protest’

Junta extends state of emergency, says elections must be held “The current situation is under unusual circumstances,” says acting president In some cities in Myanmar, streets are deserted for silent protests Protesters hold rallies in Thailand and the Philippines Feb.1 (Reuters) – Myanmar’s junta has extended the country’s state of emergency for another six months, … Read more

Exclusive: EV maker Rivian cuts 6% of jobs amid price war – internal memo

Exclusive: EV maker Rivian cuts 6% of jobs amid price war – internal memo

SAN FRANCISCO, Feb. 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in a bid to cut costs as the EV maker, already struggling with declining cash reserves and a weak economy, braces itself for an industry-wide price war. The company is focusing its resources on ramping up vehicle production and … Read more

Adani waives $2.5 billion share sale as major blow to Indian tycoon

Adani waives .5 billion share sale as major blow to Indian tycoon

NEW DELHI, Feb. 1 (Reuters) – Flagship Gautam Adani called off its $2.5 billion share sale on Wednesday in a dramatic turnaround as a defeat sparked by the criticism of a US short-seller saw billions more of its value of the Indian magnate’s shares wiped out. The withdrawal of the Adani Enterprises (ADEL.NS) share offering … Read more

Biden wants to cut U.S. credit card fees and app fees

Biden wants to cut U.S. credit card fees and app fees

WASHINGTON, Feb. 1 (Reuters) – The White House unveiled new efforts on Wednesday to reduce late credit card charges and reduce the prices charged by Apple Inc (AAPL.O) and Google parent Alphabet Inc (GOOGL.O) in charge for mobile app stores. The move is part of a larger policy to promote competition in consumer markets, officials … Read more

UK teachers and civil servants join mass strike on ‘Walkout Wednesday’

UK teachers and civil servants join mass strike on ‘Walkout Wednesday’

Up to 500,000 people are expected to take part in the British strikes The government says large wage increases will fuel inflation Schools are closed, most trains are not running More strikes involving health workers will follow next week LONDON, Feb. 1 (Reuters) – Up to half a million British teachers, civil servants and machinists … Read more

India increases spending in final pre-election budget

India increases spending in final pre-election budget

NEW DELHI, Feb. 1 (Reuters) – The Indian government on Wednesday announced a budget of $550 billion for the next fiscal year starting April 1, setting out a plan for record investment while limiting the budget deficit. Prime Minister Narendra Modi’s party, which faces elections in key states this year and a national election in … Read more