Tesla restarts production at Shanghai plant after two-day stoppage – sources
SHANGHAI – Tesla resumed production at its Shanghai factory on Friday after a two day suspension, people familiar with the matter said, as movement controls …
Sources
Exclusive-US Foods, pressured by hedge fund, eyes board shakeup -sources
By Svea Herbst-Bayliss – US Foods Holding Corp is interviewing potential candidates for its board as the food distributor tries to fend off a challenge …
Brazil government readies $32 billion of economic stimulus -sources
By Lisandra Paraguassu and Bernardo Caram BRASILIA – Brazil’s federal government plans to announce on Thursday a program providing some 165 billion reais ($32 billion) …
Exclusive-Petrobras and EIG near deal for Bolivia-Brazil gas pipeline -sources
By Tatiana Bautzer and Gram Slattery SAO PAULO/RIO DE JANEIRO – State-run Brazilian oil company Petrobras is close to reaching an agreement to sell to …
Exclusive-Chevron set to trade Venezuelan oil if U.S. relaxes sanctions -sources
By Marianna Parraga and Matt Spetalnick HOUSTON/WASHINGTON -Chevron Corp. is preparing to take operating control of its joint ventures in Venezuela if Washington relaxes sanctions …
India’s top refiner IOC buys 3 million bbls Russian Urals crude via tender -sources
By Nidhi Verma NEW DELHI – Indian Oil Corp, the country’s top refiner, bought 3 million barrels of Russian Urals from trader Vitol for May …
ECB looking at ways to let Ukrainian refugees convert cash -sources
By Balazs Koranyi and Jan Strupczewski FRANKFURT/VERSAILLES – The European Central Bank is working on a financial facility to let millions of Ukrainian refugees convert …
China bars mainland brokers from promoting SPAC deals in Hong Kong – sources
By Scott Murdoch, Samuel Shen and Selena Li SYDNEY/HONG KONG – China’s securities regulator has barred the country’s investment banks it regulates from acting as …
Banks in talks with distressed buyers on Russian assets – sources
By Davide Barbuscia and Yoruk Bahceli NEW YORK/LONDON – Banks are having conversations with potential buyers on how to get rid of their exposure to …
Exclusive-Boeing aims to nearly double 737 MAX production by end-2023 -sources
By Eric M. Johnson and Tim Hepher SEATTLE/PARIS – Boeing Co has preliminary plans to boost production of its cash cow 737-family narrowbody to around …
Exclusive-Italian prosecutors to wrap up probe on Boeing 787 parts by July – sources
By Francesca Landini BRINDISI, Italy – Prosecutors investigating suspected flawed parts produced by an Italian company for the Boeing 787 Dreamliner are expected to wrap …
Julius Baer halts business with new Russian clients -sources
By Brenna Hughes Neghaiwi and Saeed Azhar ZURICH – Swiss wealth manager Julius Baer has halted any new business with wealthy Russians, two sources familiar …
Biden administration studying whether biofuel waiver could ease food inflation -sources
By Jarrett Renshaw – U.S. President Joe Biden’s administration is studying whether waiving biofuel blending mandates could help offset a surge in prices for key …
Brazil economy minister backs bigger cooking gas subsidies as crude costs soar -sources
By Marcela Ayres and Bernardo Caram BRASILIA – Brazil’s economy minister backs a proposal to expand cooking gas subsidies for low-income families in response to …
Exclusive – Russian firms rush to open Chinese bank accounts as sanctions bite – sources
By Samuel Shen and Andrew Galbraith SHANGHAI – The Moscow branch of a Chinese state bank has seen a surge in enquiries from Russian firms …
U.S. preparing further sanctions against Russian oligarchs -sources
By Daphne Psaledakis and Matt Spetalnick WASHINGTON -The United States is preparing a sanctions package targeting more Russian oligarchs as well as their companies and …
UniCredit’s Banco BPM bid plan stymied by Ukraine crisis, sources say
By Pamela Barbaglia LONDON – UniCredit has paused efforts to buy Banco BPM after losing more than a fifth of its value since Russia invaded …
Exclusive-Nord Stream 2 owner considers insolvency after pipeline halt, sanctions -sources
By Aziz El Yaakoubi and Shariq Khan -The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing …
IEA ministers discuss release of 60 million barrels of oil -sources
LONDON – Ministers from member countries of the International Energy Agency (IEA) are discussing the release of 60 million barrels of oil from storage in …
Exclusive-Tax energy firms’ windfall profits to raise green cash, EU to tell countries – sources
By Foo Yun Chee and Kate Abnett BRUSSELS – The European Commission will propose that member countries tax the profits energy companies made from recent …
Russian oil exports continue despite payment issues – sources
MOSCOW/LONDON – Russian oil exports continued to flow to Europe and onwards on Friday, even as Russian sellers and Western buyers said they struggled with …
OPEC+ deal seen on track despite Russia’s Ukraine invasion -sources
By Olesya Astakhova, Alex Lawler and Ahmad Ghaddar MOSCOW/LONDON – A deal among OPEC+ oil producers including Russia is showing no cracks so far after …
Biden to announce U.S. Supreme Court pick Friday at White House -sources
WASHINGTON – President Joe Biden planned to announce his nominee for the U.S. Supreme Court on Friday at the White House, according to two people …
India explores setting up rupee trade accounts with Russia to soften sanctions blow – sources
By Rajendra Jadhav, Nupur Anand and Aftab Ahmed MUMBAI – India is exploring ways to set up a rupee payment mechanism for trade with Russia …
Sanctions could complicate Citigroup sale of Russian consumer bank -sources
By David Henry and Matt Scuffham NEW YORK – The sale of Citigroup’s Russian consumer bank could be complicated by U.S. sanctions on Russian state …
U.S. banks do not expect major financial impact, risk contagion from Russia sanctions – sources
WASHINGTON – Banks in the United States do not expect a material financial impact on their businesses, or broader risk contagion, as a result of …
Oaktree hires Morgan Stanley to find investor in Italy’s Banca Progetto – sources
By Valentina Za, Pamela Barbaglia and Elisa Anzolin MILAN – Oaktree has hired Morgan Stanley to sell a stake in Banca Progetto in a deal …
Exclusive-VW could issue common, preference shares in possible Porsche AG IPO – sources
HAMBURG – Volkswagen is weighing issuing an equal number of common and preference shares in a potential listing of luxury carmaker Porsche AG and may …
Potential investors in India LIC’s giant IPO fret over govt control of insurer -sources
By Nupur Anand, Aftab Ahmed and Scott Murdoch MUMBAI – Prospective investors in Life Insurance Corp of India’s (LIC) $8 billion IPO are seeking assurances …
Thyssenkrupp hydrogen IPO plans face market headwinds – sources
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF – A steep drop in hydrogen shares is likely to hit the valuation of Thyssenkrupp’s hydrogen unit Nucera, …
Canada’s Freeland strays from G20 economic script to warn Russia on Ukraine – sources
By David Lawder and Andrea Shalal WASHINGTON – Canadian Finance Minister Chrystia Freeland stepped well beyond economic policy at a G20 finance meeting on Friday …
Exxaro, China’s CNIC vie with AIIM for $2 billion African power firm Lekela – sources
(Refiling to add dropped words ‘utility-scale’ before wind farm, paragraph 5) By Isla Binnie and Emma Rumney JOHANNESBURG – South African miner Exxaro and Chinese …
CVC, Brookfield among bidders for stake in Starbucks Mideast franchise – sources
DUBAI – Buyout groups CVC Capital Partners and Brookfield and two Abu Dhabi state funds have bid to buy a stake in the Middle East, …
Italy’s Saipem to rethink green drive after profit warning, sources say
By Stephen Jewkes MILAN – Italy’s Saipem is set to take a more cautious approach to new green business after delays to a wind farm …
Canada’s Trudeau to invoke emergencies act to deal with truckers’ protests -sources
OTTAWA – Canadian Prime Minister Justin Trudeau on Monday plans to invoke rarely used emergency measures to tackle ongoing protests that have shut border crossings, …
Exclusive-Russian mercenaries with spy links increasing presence in Ukraine – Western sources
By Guy Faulconbridge LONDON – Russian mercenaries with ties to Moscow’s spies have increased their presence in Ukraine in recent weeks, stoking fears among some …
Exclusive-New Rio Tinto chairman to weigh CEO’s future amid toxic culture crisis – sources
By Clara Denina and Helen Reid LONDON/JOHANNESBURG – The incoming chairman of Rio Tinto will review the position of CEO Jakob Stausholm to determine whether …
MetLife explores sale of variable annuity business – sources
By David French NEW YORK – MetLife Inc is exploring the divestment of its U.S. variable annuity book as it seeks to free up resources …
Oracle’s Red Bull F1 title sponsorship deal worth $300 million – sources
STOCKHOLM – Software giant Oracle’s title sponsorship agreement with the Red Bull Formula One team is worth about $300 million over five years, according to …
Exclusive-Ford’s Lincoln brand to launch full slate of electric SUVs by 2026 -sources
By Paul Lienert DETROIT – Ford Motor Co is stepping up plans to extensively electrify its Lincoln brand in North America, as it prepares to …
Exclusive-Spanish oil major Repsol looking to sell parts of its Canadian assets -sources
By Shariq Khan and Rod Nickel – Spanish oil major Repsol SA is considering putting some of its Canadian assets for sale later this year …
Taiwan lifts forex trading punishment on Deutsche -sources
TAIPEI – Taiwan’s central bank has allowed Deutsche Bank to start trading Taiwan dollar deliverable and non-deliverable forwards again, three sources told Reuters, after it …
Monte dei Paschi set to name veteran banker Lovaglio as CEO, sources say
By Giuseppe Fonte ROME – Italy’s Monte dei Paschi di Siena (MPS) could name a new chief executive as early as Monday after the state-owned …
Carlyle in talks to acquire credit investment firm CBAM -sources
By Chibuike Oguh – Buyout firm Carlyle Group Inc is in talks to acquire CBAM Partners in a bid to grow its credit investment platform …
Exclusive-Advent gears up for $4.6 billion sale of French biometrics firm IDEMIA – sources
By Julien Ponthus and Pamela Barbaglia LONDON – Advent International is looking to sell its French biometrics and fingerprint identification firm IDEMIA in a deal …
Exclusive-KKR explores sale or IPO of cybersecurity consultant Optiv -sources
By Krystal Hu and Chibuike Oguh – Buyout firm KKR & Co Inc is exploring a sale or an initial public offering for Optiv Security …
Oil refiners offer union workers 9% pay raise over three years -sources
HOUSTON – U.S. oil refiners have offered union oil and chemical workers a 9% pay raise over three years, according to people familiar with the …