Category: Business

LONDON (Reuters) – Britain’s biggest supermarket chain Tesco (TSCO.L) said on Sunday it had started a review of its businesses in Thailand and Malaysia, including looking at a possible sale. Celebrating its 100th anniversary, Tesco is five years into a recovery plan launched after an accounting scandal capped a dramatic downturn in trading. Tesco said…

SIMI VALLEY, Calif. (Reuters) – Amazon.com Inc founder Jeff Bezos said it would support the U.S. Department of Defense as technology companies vie for more defense contracts and the Pentagon seeks to modernize itself. “We are going to support the Department of Defense, this country is important,” Bezos said at an annual defense forum at…

BERLIN (Reuters) – Volkswagen’s (VOWG_p.DE) German plants need to boost efficiency to match overseas operations, production chief Andreas Tostmann was quoted as saying, targeting 2 billion euros ($2.2 billion) in savings by 2023. German carmakers, including Volkswagen’s Audi (NSUG.DE) brand, have announced thousands of job cuts in recent weeks to address an expected 5% drop…

TOKYO (Reuters) – Japan’s markets watchdog will likely recommend soon that the financial regulator fine Nissan Motor Co Ltd (7201.T) about 2.4 billion yen ($22 million) over false reporting on its financial statement, public broadcaster NHK reported on Sunday. Nissan’s former Chairman Carlos Ghosn was arrested in Tokyo in November last year over allegations of…

BEIJING (Reuters) – China’s copper imports rose 12.1% in November from the previous month to their highest in more than a year, as an unexpected improvement in the manufacturing sector drove up demand. Imports of unwrought copper including anode, refined and semi-finished copper products into China stood at 483,000 tonnes last month, data from the…

BEIJING (Reuters) – China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand. The 17-month long trade dispute has heightened the risks of a global recession and fueled speculation…

BEIJING (Reuters) – China’s crude oil imports hit a record high on a daily basis in November, as refiners operated at high run rates to use up annual import quotas. The world’s top oil buyer imported 45.74 million tonnes of crude, equivalent to 11.13 million barrels per day (bpd), according to data released by the…

BEIJING (Reuters) – China’s iron ore imports fell for a second straight month in November, customs data showed on Sunday, as lower shipments from top miners in Australia and Brazil overshadowed firm demand for the steelmaking ingredient at mills. The world’s top steel producer brought in 90.65 million tonnes of iron ore last month, down…

BEIJING (Reuters) – China’s coal imports plunged 19% in November from the previous month as tighter import rules at ports curbed shipments towards the year’s end. China, the world’s top coal importer, brought in 20.78 million tonnes of the fuel last month, data from the General Administration of Customs showed on Sunday. That compares with 25.69…

WASHINGTON (Reuters) – U.S. and Mexican negotiators are “very close” to finalizing the United States-Mexico-Canada Agreement, a Washington-based source familiar with the talks said on Saturday, after a top Mexico official said the two sides had made progress on the trade deal. The person added that U.S. House Speaker Nancy Pelosi still needed to agree…