Breaking Business news from across New Jersey.
By Belén Carreño MADRID (Reuters) -Spain’s gross domestic product grew a faster-than-expected 5.5% in 2022 as the country avoided a recession in the final quarter despite fears of a global …
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Business News
Akio Toyoda set to remain a force at Toyota, even as he steps aside
by Reutersby ReutersBy Satoshi Sugiyama and Tim Kelly TOKYO (Reuters) -Toyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world’s largest automaker for years to come, …
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Business News
POSCO expects slow market recovery in 2023 after big drop in annual profit
by Reutersby ReutersBy Hyunsu Yim SEOUL (Reuters) – POSCO Holdings, parent of South Korea’s biggest steelmaker POSCO, on Friday reported a 46.7% drop in operating profit for 2022 due to a four-month …
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LONDON (Reuters) – Dollar bonds issued by entities of India’s Adani Group tumbled on Friday as a scathing report by a U.S. short seller triggered a rout in the conglomerate’s …
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By Diana Mandia (Reuters) – Signify, the world’s largest lighting maker, on Friday gave a more upbeat forecast for operating profitability for 2023, on the back of an improving situation …
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Business News
India market regulator increases scrutiny of Adani group – sources
by Reutersby ReutersBy Jayshree P Upadhyay (Reuters) – India’s market regulator has increased scrutiny of deals by the Adani Group over the past year and will study a report issued by short-seller …
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By Sam Nussey and Kantaro Komiya TOKYO (Reuters) -When the head of Toyota announced on Thursday he would step down as CEO, Akio Toyoda opted for the news outlet he …
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(Reuters) – Air France-KLM has placed a firm order with Airbus for four freighter and three passenger aircraft, the Franco-Dutch airline said on Friday, as part of efforts to renew …
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By Niklas Pollard STOCKHOLM (Reuters) -Swedish steelmaker SSAB expects to increase shipments in a more stable market in the first quarter, it said on Friday as it reported earnings in …
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Business News
India’s Tata Motors surges 8% on first quarterly profit in 2 years
by Reutersby ReutersBENGALURU (Reuters) -Shares of Tata Motors Ltd, India’s No.3 carmaker by volume, rose as much as 8.2% to a more-than-four-month high on Friday after the company reported its first quarterly …
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Business News
Seven EU countries oppose new EU funding as response to U.S. subsidy plan – letter
by Reutersby ReutersBy Jan Strupczewski BRUSSELS (Reuters) – Plans by the European Commission to create new European Union funding for the green industry are facing mounting opposition in the 27-nation bloc, as …
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Business News
South Korea pension fund will deplete faster than expected, report says
by Reutersby ReutersSEOUL (Reuters) – South Korea’s huge national pension fund is set to see its pool of money depleted by 2055, earlier than expected, because of a shrinking population amid low …
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By Aditi Shah NEW DELHI (Reuters) -Air India will on Friday seal half of an order for some 495 jets with Boeing and engine suppliers General Electric and CFM International, …
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By Leika Kihara TOKYO (Reuters) -The Bank of Japan said on Friday it will extend five-year loans against collateral to financial institutions, the second time it has made such an …
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A look at the day ahead in European and global markets from Ankur Banerjee Chip giant Intel’s grim earnings report along with mixed U.S data that showed a resilient economy …
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Business News
Thailand to begin construction of $9 billion aviation city this year
by Reutersby ReutersBANGKOK (Reuters) – Thailand will begin construction on the 290-billion baht ($8.82 billion) U-Tapao aviation city early this year, a government spokesperson said on Friday. The project will generate 15,600 …
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Business News
India banks’ exposure to Adani Group is limited – CLSA, Jefferies
by Reutersby ReutersMUMBAI (Reuters) – Indian banks’ exposure to the Adani Group is within manageable limits, said brokerage houses CLSA and Jefferies, as the group fend off an attack from well-known short-seller …
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Business News
ArcelorMittal leads $120 million funding for green steel tech firm
by Reutersby ReutersBy Isla Binnie NEW YORK (Reuters) – ArcelorMittal has led the latest, $120 million round of investment for Boston Metal in the startup’s quest to go to market by 2026 …
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Business News
FTX opposes new bankruptcy investigation as it probes Bankman-Fried connections
by Reutersby ReutersBy Noele Illien, Tom Wilson and Dietrich Knauth ZURICH/LONDON (Reuters) – FTX has objected to a U.S. Department of Justice request for an independent investigation into the once-prominent crypto exchange’s …
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Business News
Analysis-India’s EV dawn fans expectations fuel demand may peak early
by Reutersby ReutersBy Mohi Narayan NEW DELHI (Reuters) – The rapid take-up of electric vehicles in India’s fledgling market has prompted a major rethink about the country’s long-term fuel needs as refiners …
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BENGALURU (Reuters) – Shares of Adani Group’s listed companies fell on Friday, adding to their losses from Wednesday when U.S. short-seller Hindenburg Research launched a scathing attack on the conglomerate. …
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(Reuters) – Billionaire U.S. investor Bill Ackman said on Thursday that he found short-seller Hindenburg Research’s report on India’s Adani Group “highly credible and extremely well researched.” Shares in seven …
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Business News
Japan PM says can’t rule out return of deflation despite price spike
by Reutersby ReutersBy Kantaro Komiya TOKYO (Reuters) -Japanese Prime Minister Fumio Kishida said on Friday that a return to deflation in the world’s third-largest economy cannot be ruled out, because domestic demand …
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(Reuters) – Private home prices in Hong Kong, one of the most unaffordable territories in the world, fell 15.6% in 2022 in the first annual drop since 2008, official data …
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By Joyce Lee and Heekyong Yang SEOUL (Reuters) – South Korean display panel maker LG Display said it planned to cut costs in the first half of this year after …