The post Reuters exclusively reports Indian sugar mills to close early as rain hits cane supply; sugar futures jump; shares fall appeared first on Reuters News Agency.

Reuters exclusively reported that India’s federal government is likely to keep its gross market borrowing below 16 trillion rupees ($196 billion) for 2023/24 as it does not want to destabilise the bond market with any negative surprises.

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Citing an unpublished report, Reuters exclusively reported that Chile’s mining regulator Cochilco was forecasting far slower growth in copper production over the next decade than previously estimated, with peak output two years later than anticipated and at a significantly lower level. The news revealed that Chile, the world’s top producer of the metal, was facing hurdles ramping up production as new copper mining projects and investments were delayed due to the pandemic and political uncertainty in the Andean nation.

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Reuters revealed how Unilever racked up strong sales growth in India last year on the back of sharp price increases attributed to its dominant market position and pent-up demand among middle-class shoppers. But industry experts said the British multinational should take care not to alienate poorer rural consumers — which some analysts estimate account for nearly half its revenues in India — after some signs they reined in spending last year as higher inflation took its toll.

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The post Blackstone in talks with Bain to sell $480 million stake in top Indian REIT appeared first on Reuters News Agency.

The post Reuters reveals Qatar Investment Authority raises stake in Credit Suisse to just under 7% appeared first on Reuters News Agency.

Reuters reported Airbus has carried out design changes to A350 passenger jets amid a $2 billion dispute with Qatar Airways over surface damage, which spilled over to a debate on security this week. The two companies have been fighting in court for months over the safety impact of flaking paint that exposed corrosion or gaps in a sub-layer of metallic lightning protection.

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Reuters was first to report that hedge fund ValueAct Capital urged Seven & i Holdings shareholders to back a spin-off of the company’s 7-Eleven convenience store chain, arguing the move would improve the conglomerate’s valuation and corporate governance. The U.S.-based investment firm, which owns a 4.4% stake in the Japanese company and has been urging it to make changes for at least a year, called on shareholders, in a letter reviewed by Reuters, to express their opinions on the matter to Seven & i’s board.

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Reuters took readers on a deep dive into how German carrier Lufthansa said on Wednesday it had offered to buy a minority stake in ITA Airways, betting on reviving the loss-making successor to Italy’s Alitalia and expanding its footprint in Europe. Lufthansa said Italy is the most important market outside of its existing home markets and the United States, noting its prominence as both a business and tourism destination.

The post Reuters reveals Lufthansa bids for ITA stake to revive Italy’s loss-making airline appeared first on Reuters News Agency.

Reuters was first to report that India is not looking at allowing more sugar exports, dampening speculation that the world’s biggest producer of the sweetener would permit a second tranche of overseas shipments. Raw sugar futures pared losses and turned positive after the report was published.

The post Reuters reveals that India is likely to keep a lid on sugar exports as output dips appeared first on Reuters News Agency.

Reuters was first to report that Renault SA and China’s Geely Automobile Holdings are working to finalise a deal to bring Saudi Aramco in as an investor and partner to develop and supply gasoline engines and hybrid technologies. 

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 Reuters exclusively reported that Shell PLC’s Canada export project team in British Columbia plans to start building its proposed second phase with natural gas-powered turbines and a switch to electricity as more renewable power becomes available. LNG Canada CEO Jason Klein told Reuters in an interview that lack of transmission infrastructure makes the whole electrification of the plant a challenge. With global demand for natural gas from sources other than Russia accelerating after its invasion of Ukraine last year, LNG Canada is weighing whether to build a second phase to double its annual capacity to 28 million tonnes by 2030.

The post Reuters reveals Shells’ LNG Canada Project to Delay Shift to Renewable appeared first on Reuters News Agency.

Reuters shed light on how U.S. and European airlines will benefit from pent-up demand for travel to China after its recent border reopening, but route approvals, fresh COVID-19 testing rules and not enough large aircrafts remain barriers to rising sales.

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Reuters exclusively revealed at least four Chinese-owned supertankers are shipping Russian Urals crude to China, as Moscow seeks vessels for exports after a G7 oil price cap restricted the use of Western cargo services and insurance. 

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Reuters exclusively reported that Chinese authorities are set to allow Didi Global’s ride-hailing and other apps back on domestic app stores as soon as next week, in another signal that the country’s two-year regulatory crackdown on the technology sector is ending. Reuters reported the lifting of the new user ban and app resumption for its ride-hailing services and other business could take place before the Lunar New Year which begins on January 22. The Reuters news was confirmed in two separate public announcements this week, with Reuters checks today showing Didi’s domestic ride-hailing app returning to some Android app stores. Didi has been awaiting approval to resume new user registrations and downloads of its 25 banned apps in China as a key step to return to normal business since its regulatory troubles started in mid-2021.

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Reuters exclusively reported Chinese electric vehicle maker BYD Auto Co plans to build a plant in Vietnam to produce car parts, in a move that would reduce the company’s reliance on China and deepen its supply chain in Southeast Asia as part of a global expansion.

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Reuters exclusively reported that Exxon Mobil Corp will sharply boost gasoline and diesel production at its Beaumont, Texas, refinery, completing a $2 billion expansion first considered nine years ago. Initial startup of a crude distillation unit at the 369,000-bpd refinery is expected by Jan. 31, making the Beaumont refinery the second largest in the United States.

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Reuters exclusively revealed that Southwest Airlines Co Chief Executive Bob Jordan is looking at all options to ensure the operational meltdown the company suffered last month is not repeated. The Dallas-based carrier has been dealing with customer outrage and regulatory scrutiny after a systems meltdown left thousands of passengers stranded.

The post Reuters reveals Southwest CEO says all options ‘on the table’ after carrier’s meltdown, and vows responsibility appeared first on Reuters News Agency.