Japan, Britain and Italy to build joint jet fighter

Japan, Britain and Italy to build joint jet fighter

TOKYO/LONDON, Dec 9 (Reuters) – Japan, Britain and Italy are merging their next-generation jet fighter projects in a ground-breaking partnership spanning Europe and Asia that is Japan’s first major industrial defence collaboration beyond the United States since World War Two. The deal, which Reuters reported in July, aims to put an advanced front-line fighter into … Read more

U.S. House to vote to block rail strike despite labor objections

U.S. House to vote to block rail strike despite labor objections

WASHINGTON/LOS ANGELES, Nov 29 (Reuters) – The U.S. House of Representatives was set to vote Wednesday to block a rail strike that could potentially happen as early as Dec. 9, after President Joe Biden warned of dire economic consequences and massive job losses. House Speaker Nancy Pelosi said lawmakers will vote Wednesday to impose a … Read more

More than 80 injured as Indian police clash with Adani port protesters

More than 80 injured as Indian police clash with Adani port protesters

KOCHI, India Nov 28 (Reuters) – More than 80 people were wounded in southern India as villagers halting the construction of a $900 million port clashed with police, the latest escalation of a months-old protest waged by a mostly Christian fishing community against Asia’s richest man. The protests are a major headache for Gautam Adani’s … Read more

Buffett’s Berkshire discloses $4.1 bln TSMC stake

Buffett’s Berkshire discloses .1 bln TSMC stake

Nov 14 (Reuters) – Berkshire Hathaway Inc (BRKa.N) said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing (2330.TW), , a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. The news sent shares in TSMC up more than 6% in Taiwan on Tuesday, as it boosted investor sentiment … Read more

Berkshire Hathaway posts quarterly loss as stock holdings fall

Berkshire Hathaway posts quarterly loss as stock holdings fall

Nov 5 (Reuters) – Berkshire Hathaway Inc (BRKa.N) on Saturday posted a third-quarter loss, as the conglomerate run by billionaire Warren Buffett said it lost money on its stock investments and from insurance underwriting. The net loss of $2.69 billion, or $1,832 per Class A share, compared with a profit of $10.34 billion, or $6,882 … Read more

Shanghai food supplier’s books reveal big profits under COVID lockdown

Shanghai food supplier’s books reveal big profits under COVID lockdown

SHANGHAI, Oct 28 (Reuters) – The profitability surge of a Shanghai food supplier seeking a Hong Kong listing, disclosed in an exchange filing, gives a rare peep under the hood into a cohort of Chinese companies that have benefited from President Xi Jinping’s zero-COVID policy. Pang Pang Xiang (China) Company Ltd saw its gross profit … Read more

Chinese EV giant BYD flags huge jump in quarterly profit, shares surge

Chinese EV giant BYD flags huge jump in quarterly profit, shares surge

Oct 18 (Reuters) – BYD Co (002594.SZ), China’s biggest electric car maker, said third-quarter net profit likely more than quadrupled due to robust sales and a better product mix, sending its shares surging. It estimated that net profit for the July-September quarter came in between 5.5 billion yuan to 5.9 billion yuan ($765 million-$820 million), … Read more

Toshiba shares jump on report of possible $19 bln buyout

Toshiba shares jump on report of possible  bln buyout

TOKYO, Oct 13 (Reuters) – Shares in Toshiba Corp (6502.T) on Thursday surged on a report that a domestic investor-led group was looking at a $19 billion bid – a potential deal that would likely lead to foreign activist shareholders being bought out after years of tension. A consortium led by private equity firm Japan … Read more

Westinghouse to be sold in $7.9-bln deal as interest in nuclear power grows

Westinghouse to be sold in .9-bln deal as interest in nuclear power grows

Oct 11 (Reuters) – Cameco Corp (CCO.TO) and Brookfield Renewable Partners said on Tuesday they would acquire nuclear power plant equipment maker Westinghouse Electric in a $7.9-billion deal including debt, amid renewed interest in nuclear energy. The deal for one of the most storied names in the American power industry at an equity value of … Read more

F-35 jet deliveries can resume following waiver for Chinese-origin alloy, Pentagon says

F-35 jet deliveries can resume following waiver for Chinese-origin alloy, Pentagon says

WASHINGTON, Oct 8 (Reuters) – Deliveries can resume for Lockheed Martin Corp’s (LMT.N) F-35 jet under a waiver allowing Chinese-origin alloy to go into an engine part, the Pentagon said on Saturday. In September the Pentagon stopped accepting new F-35 jets after it discovered a magnet in the stealthy fighter’s engine was made with unauthorized … Read more