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☆ A Chinese smartphone maker is breaking into EVs and challenging Tesla. How the stock rates now.
▼ + stars: | 2024-04-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Just as the auto industry was grappling with BYD 's rapid rise, Chinese smartphone company Xiaomi has burst into the market — undercutting Tesla and vowing to become a global player. Meanwhile, Tesla last week revealed that its deliveries fell in the first quarter from a year ago . While he still likes Tesla longer-term , he and his team will hold a client webinar on Xiaomi, Tesla and global EVs on Tuesday. Xiaomi shares nearly reached that price during last week's surge. Meanwhile, Tesla shares are down 34% year to date.

Persons: BYD, Tesla, Lei Jun, Xiaomi, Morgan Stanley, Adam Jonas, Jonas, Morgan, Andy Meng, Meng, Taylor Ogan, Lei, Ogan, BEV, Nick Lai, Gokul Hariharan, Janet Yellen, overcapacity Organizations: Apple, Hong, Snow Bull, EV, JPMorgan, Treasury Locations: Hong Kong, China, Shenzhen, U.S

☆ JPMorgan says 'all roads' of the AI boom lead to this global chip manufacturer that's trading at a 50% discount
▼ + stars: | 2024-03-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Investors looking to bet on the artificial intelligence boom may want to take a look at Taiwan Semiconductor Manufacturing , according to JPMorgan. Analyst Gokul Hariharan reiterated his overweight rating on the semiconductor maker, a supplier to chip majors such as Nvidia , Advanced Micro Devices and Qualcomm , saying that "all roads in AI semis lead" to the company. Within the next three to four years, Hariharan expects Taiwan Semiconductor to maintain its greater-than 90% market share of AI-connected processor silicon. By 2026, he forecasts the company's revenues can hit $119 billion, driven by robust growth in high-performance computing as AI training and inference demand grows. A solid setup for the company's 3 nanometer process technology for chipmakers such as Nvidia should also benefit revenues.

Persons: Gokul Hariharan, Hariharan Organizations: Taiwan Semiconductor Manufacturing, JPMorgan, Nvidia, Devices, Qualcomm, Taiwan Semiconductor, SOX, AMD, Broadcom, Marvell, Hariharan Locations: Taiwan

☆ Biden signs stopgap spending bill to avert government shutdown - White House
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden delivers remarks during the Indo-Pacific Economic Framework (IPEF) Leaders event at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Brittany Hosea-Small Acquire Licensing RightsSAN FRANCISCO, Nov 16 (Reuters) - U.S. President Joe Biden signed on Thursday a stopgap spending bill to avert a government shutdown, a day after the Senate passed it, the White House said. Biden signed the document on the sidelines of a dinner at the Legion of Honor museum in San Francisco, where leaders are attending the Asia Pacific Economic Cooperation (APEC) summit. U.S. House of Representatives Speaker Mike Johnson had produced the stopgap funding bill that drew broad bipartisan support, a rarity in modern U.S. politics. Reporting by Trevor Hunnicutt and Gokul Pisharody ; Editing by Clarence Fernandez and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Brittany Hosea, Biden, Mike Johnson, Trevor Hunnicutt, Clarence Fernandez, Kim Coghill Organizations: Economic, Economic Cooperation, REUTERS, FRANCISCO, Legion, Asia Pacific Economic Cooperation, . House, Thomson Locations: Asia, San Francisco , California, U.S, San Francisco, Washington

☆ Biden signs stopgap spending bill to avert govt shutdown- White House
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

☆ We never subscribed to a complete decoupling from China, says Morgan Stanley
▼ + stars: | 2023-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe never subscribed to a complete decoupling from China, says Morgan StanleyGokul Laroia of the financial services firm says the sectors in China that investors are attracted to may change, but the market remains interesting and "dialogue around it is as robust as ever."

Persons: Morgan Stanley Gokul Laroia Locations: China

☆ UAW members ratify labor deal with Mack Trucks
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Mack Trucks is seen on a truck in a yard in Mejicanos, El Salvador, August 16, 2018. REUTERS/Jose Cabezas Acquire Licensing RightsNov 16 (Reuters) - The United Auto Workers (UAW) union said on Wednesday that about 3,900 of its members working at Mack Trucks ratified a new five-year contract, ending a month-long strike at the Volvo Group (VOLVb.ST)-owned company. "After 39 days on strike, UAW members at Mack Trucks have voted by 93% to ratify their new contract with significant local improvements," the union said in a post on messaging platform X, previously known as Twitter. Mack Trucks said the new contract covered its employees at facilities in Pennsylvania, Maryland and Florida. Mack Trucks, which was bought by Volvo in 2000, is one of North America's largest makers of medium-duty and heavy-duty trucks.

Persons: Mack Trucks, Jose Cabezas, Maria Ponnezhath, Shubham Kalia, Mrinmay Dey, Gokul Pisharody, Baranjot Kaur, Varun, Anil D'Silva Organizations: REUTERS, United Auto Workers, UAW, Mack, Volvo Group, Twitter, Detroit's Big, General Motors, Ford, Volvo, Thomson Locations: Mejicanos, El Salvador, Pennsylvania , Maryland, Florida, North, Bengaluru

☆ Ford production workers at Kentucky, Louisville vote against new labor deal
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO: A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. REUTERS/Luke Sharrett/File Photo/File Photo Acquire Licensing RightsNov 13 (Reuters) - Production workers at Ford's (F.N) Louisville assembly and Kentucky truck plants have voted against the tentative labor agreement, while skilled trades workers voted in favor, the local chapter of the United Auto Workers (UAW) said on Monday. Union workers are voting on contracts from each of Chrysler-owner Stellantis (STLAM.MI), GM (GM.N) and Ford, after the first coordinated strike against Detroit's Big Three automakers. Of the total votes cast at Ford's various facilities so far, 70.7% of workers have voted in favor of the deal, according to a UAW vote tracker. Workers at some of the company's major plants including the Dearborn Truck plant in Michigan are yet to vote.

Persons: Luke Sharrett, Stellantis, Gokul Pisharody, Dhanya Ann Thoppil, Arun Koyyur Organizations: United Auto Workers, UAW, REUTERS, UAW . Union, Chrysler, GM, Ford, Detroit's Big, Workers, Dearborn, General Motors, U.S ., Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, Ford's, F.N, Louisville, Kentucky, Michigan, Flint, Bengaluru

☆ China weighs ending freeze on Boeing purchases with 737 Max deal in US -Bloomberg News
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 12 (Reuters) - China is considering resuming purchases of Boeing's (BA.N) 737 Max aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter. Boeing is still waiting to resume deliveries of its bestselling 737 MAX to Chinese airlines more than four years after they were halted following two deadly crashes. The company had said that as of the end of June, about 90% of its 737 Max jets in China had resumed commercial operations. Boeing in September slightly increased its annual 20-year forecast for new plane deliveries to China, citing economic growth and increasing demand for domestic travel.

Persons: Gina Raimondo, Aly, Xi Jinping, planemaker, Gokul, Tom Hogue, Gerry Doyle Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Max, APEC, Bloomberg, Boeing, Reuters, U.S, Thomson Locations: Shanghai Pudong, Shanghai, China, U.S, Beijing, Washington, Bengaluru

☆ Ford's production workers at Kentucky, Louisville vote against new labor deal
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO: A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. REUTERS/Luke Sharrett/File Photo/File Photo Acquire Licensing RightsNov 13 (Reuters) - The United Auto Workers (UAW) production workers at Ford's (F.N) Louisville assembly and Kentucky truck plants have voted against a proposed four-and-a-half year contract, while the skilled trades workers voted in favor of the deal, the union's local unit said on Facebook. The UAW Local 862 union said that 55% of the production workers voted against ratifying the contract. However, 69% of the skilled trades workers cast votes in favor of the contract. The union did not disclose the overall percentage of the votes in favor of the deal, or the total number of votes cast.

Persons: Luke Sharrett, Ford, Stellantis, Gokul, Dhanya Ann Thoppil Organizations: United Auto Workers, UAW, REUTERS, Facebook, UAW Local, Chrysler, GM, Ford, Detroit's Big, General Motors, U.S ., Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, Ford's, F.N, Louisville, Kentucky, Flint, Michigan, Bengaluru

☆ Polestar signs deal with South Korea's SK On for Polestar 5 EV
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: 1 min

The logo of the new Volvo Polestar 2 is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy/File Photo Acquire Licensing RightsNov 6 (Reuters) - Electric vehicle maker Polestar (A4N1y.F) said on Monday that it had signed an agreement with South Korean battery manufacturer SK On for the supply of battery cell modules for its upcoming Polestar 5 EV. Reporting by Gokul Pisharody in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Pierre Albouy, Gokul, Sonia Cheema Organizations: Volvo, 89th Geneva, REUTERS, South Korean, SK, Thomson Locations: Geneva, Switzerland, Bengaluru

☆ Alaska Airlines sued over attempt by off-duty pilot to shut down engines
▼ + stars: | 2023-11-03 | by ( Steve Gorman | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

The lawsuit stems from an in-flight emergency declared by the crew of Alaska Airlines Flight 2059 over the Pacific Northwest while the aircraft was en route from Everett, Washington, to San Francisco, on Oct 22. The suit also names Horizon Air - the regional subsidiary operating the Alaska Airlines flight- as a defendant. Alaska Airlines in an emailed statement to Reuters said that they have received the complaint and are reviewing it. The suit also seeks injunctive relief mandating Alaska Airlines and Horizon Air to conduct examinations of all anticipated flight crew and jump seat passengers, including their "mental health status". Joseph David Emerson was the Alaska Airlines pilot who was riding as a standby employee passenger in the cockpit "jump seat".

Persons: Joseph David Emerson, Dave Killen, Emerson, Steve Gorman, Abinaya, Shubhendu, Chandni Shah, Mrinmay Dey, Gokul, Devika Nair, Aurora Ellis Organizations: Alaska Airlines, Horizon Air, Horizon, Reuters, Alaska Air, Shubhendu Deshmukh, Thomson Locations: Multnomah County, Portland , Oregon, U.S, Seattle, Pacific Northwest, Everett , Washington, San Francisco, Washington, Los Angeles, Bengaluru

☆ The chip stock is getting a ton of love from Wall Street, and it's not Nvidia
▼ + stars: | 2023-10-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A major chipmaker is getting a lot of love on Wall Street — and no, it's not Nvidia . Taiwan Semiconductor Manufacturing Company posted third-quarter results Thursday that topped analysts' expectations. While the company reported its largest profit decline since 2019, it signaled a looming end to a difficult inventory correction. The Taiwan-based semiconductor company plays an integral role in the attention-grabbing artificial intelligence chipmaking industry, supplying products to Apple , Nvidia and Advanced Micro Devices . However, now may mark an opportune time for long-term investors to get into a company poised to experience mid- to high-teens growth in 2024.

Persons: Goldman Sachs, Bruce Lu, Lu, Brad Lin, Gokul Hariharan, Hariharan, — CNBC's Michael Bloom Organizations: Nvidia, Taiwan Semiconductor Manufacturing Company, Taiwan Semiconductor, Apple, Bank of America, JPMorgan Locations: 2024E, Taiwan, China, U.S

☆ New tropical depression forms over central tropical Atlantic, NHC says
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: 1 min

Sept 23 (Reuters) - A new tropical depression 17 has formed in the central tropical Atlantic, the U.S. National Hurricane Center (NHC) said on Saturday. Tropical depression 17 is located about 985 miles (1,585 km) west of the Cabo Verde islands, packing maximum sustained winds of 35 mph (55kph), the Miami-based forecaster said. Reporting by Gokul Pisharody in Bengaluru; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Gokul, Daniel Wallis Organizations: U.S, National Hurricane Center, Thomson Locations: Cabo Verde, Miami, Bengaluru

☆ U.S. NHC says 90% chance of cyclone in next 48 hours for system west of Cape Verde Islands
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: 1 min

Sept 23 (Reuters) - An area of low pressure located several hundred miles west of the Cape Verde Islands has a 90% chance of becoming a cyclone in the next 48 hours, the U.S. National Hurricane Center (NHC) said on Saturday, adding that further development was expected and a tropical depression could likely form today. "The system is forecast to move generally westward at 10 to 15 mph for the next few days, and then turn west-northwestward or northwestward starting Tuesday," the Miami-based forecaster said. Reporting by Gokul Pisharody in Bengaluru; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Gokul, Andrew Heavens Organizations: U.S, National Hurricane Center, Thomson Locations: Cape Verde, Miami, Bengaluru

☆ Shared intelligence from Five Eyes informed Trudeau's India allegation, CTV News reports
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

Ambassador to Canada David Cohen confirmed that "shared intelligence among Five Eyes partners" had informed Canadian Prime Minister Justin Trudeau of the possible involvement of Indian agents in the murder of a Canadian citizen in June, CTV News reported. Trudeau said on Monday that Ottawa had credible intelligence linking Indian agents to the murder of Sikh separatist leader Hardeep Singh Nijjar in Vancouver, prompting an angry reaction from New Delhi, which denies the allegation. The Canadian government amassed intelligence from both human and electronic sources in a months-long investigation into the murder, CBC News reported separately on Thursday. Cohen did not comment to CTV News on the type of intelligence that had informed the Canadian government. "It would be important that India work with the Canadians on this investigation.

Persons: Hardeep Singh Nijjar, Nanak, Chris Helgren, David Cohen, Justin Trudeau, Trudeau, Hardeep Singh, Cohen, Antony Blinken, Gokul, Jan Harvey Organizations: REUTERS, Canadian, CTV News, Intelligence, Ottawa, CBC News, Thomson Locations: Surrey, British Columbia, Canada, Britain, Australia, New Zealand, Vancouver, New Delhi, United States, U.S, Delhi, India, Bengaluru

☆ Five Eyes intelligence informed Trudeau's India allegation: CTV
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

Ambassador to Canada David Cohen confirmed that "shared intelligence among Five Eyes partners" had informed Canadian Prime Minister Justin Trudeau of the possible involvement of Indian agents in the murder of a Canadian citizen in June, CTV News reported. Intelligence-sharing network Five Eyes includes the U.S., Britain, Canada, Australia and New Zealand. Trudeau said on Monday that Ottawa had credible intelligence linking Indian agents to the murder of Sikh separatist leader Hardeep Singh Nijjar in Vancouver, prompting an angry reaction from New Delhi, which denies the allegation. Cohen did not comment to CTV News on the type of intelligence that had informed the Canadian government. "It would be important that India work with the Canadians on this investigation.

Persons: David Cohen, Justin Trudeau, Trudeau, Hardeep Singh, Cohen, Hardeep Singh Nijjar, Nanak, Chris Helgren, Antony Blinken, Gokul, Jan Harvey Organizations: Canadian, CTV News, Intelligence, Ottawa, REUTERS, CBC News, Thomson Locations: Britain, Canada, Australia, New Zealand, Vancouver, New Delhi, United States, Surrey, British Columbia, U.S, Delhi, India, Bengaluru

☆ Tyson and Perdue face child labor investigations, New York Times reports
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. The Labor Department and Tyson Foods did not immediately respond to a request for comment from Reuters. The Labor Department has also opened investigations into Fayette Industrial and QSI that run cleaning shifts for Perdue and Tyson respectively, the newspaper said. In April the Biden administration sent a letter to meat companies including Tyson and Perdue asking the companies to examine their supply chains for evidence of child labor. The letter was part of an effort by several agencies, led by the Labor Department, to curb the use of illegal child labor across sectors.

Persons: Arnd, Tyson, Perdue, QSI, Biden, Gokul, Daniel Wallis Organizations: Tyson Foods, REUTERS, U.S . Department of Labor, Perdue, New York Times, Labor Department, New York Times Magazine, Reuters, The Labor Department, Fayette Industrial, Tyson, Thomson Locations: Davos, Switzerland, Shore of Virginia, Fayette, Bengaluru

☆ Unifor says Ford offers wage increases of 10% for first year
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +3 min

Sept 23 (Reuters) - Ford Motor (F.N) has offered Canadian union Unifor wage increases of up to 25% in its tentative agreement, the union said on Saturday. Unifor, which represents about 5,600 Canadian auto workers, on Friday said that its Ford leadership group has voted unanimously to support the tentative agreement. Ford is also in the midst of contract negotiations in the U.S. with a strike by the United Auto Workers (UAW) union at its at the automaker's Wayne, Michigan assembly plant. UAW President Shawn Fain said in a Facebook live event that by targeting distribution centers the strike becomes a nationwide event. A Reuters/Ipsos poll released on Thursday showed significant support by Americans for the striking auto workers.

Persons: Unifor, Ford, Shawn Fain, Joe Biden, Donald Trump, Gokul, Daniel Wallis, Alistair Bell Organizations: Ford, United Auto Workers, UAW, GM, Detroit, Reuters, U.S, Thomson Locations: U.S, Wayne , Michigan, United, Michigan, Bengaluru

☆ Airline SAS extends deadline for equity fundraising
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

TT News Agency/Johan Nilsson via REUTERS/File Photo Acquire Licensing RightsSept 11 (Reuters) - Scandinavian airline SAS (SAS.ST), battling to emerge from bankruptcy protection, said on Monday it was extending the deadline for final bids for its equity fundraising by a week to Sept. 25 at the request of bidders. SAS said in May the U.S. court had approved a revised plan to raise equity. Denmark has said it is willing to increase its stake in SAS to around 30% from around 22%, if others investors were to take a majority stake. Reuters reported in May that U.S. asset manager Apollo Global Management Inc (APO.N) planned to apply for approval from Swedish and Danish regulators to take a majority stake in SAS as part its rescue plan. Earlier this month, SAS, which has been under bankruptcy protection since July 2022, posted its first quarterly pretax profit since late 2019.

Persons: Johan Nilsson, Jacob Pedersen, Pedersen, Urvi Dugar, Gokul, David Evans, Mark Potter, Susan Fenton Organizations: SAS Airbus, Kastrup, Scandinavian Airlines, TT News Agency, REUTERS, Scandinavian, SAS, Reuters, Apollo Global Management Inc, Marie Mannes, Thomson Locations: Kastrup, Denmark, Sweden, Bengaluru, Stockholm

☆ S&P downgrades multiple US banks citing 'tough' operating conditions
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

S&P downgraded the ratings of Associated Banc-Corp (ASB.N) and Valley National Bancorp (VLY.O) on funding risks and a higher reliance on brokered deposits. It also downgraded UMB Financial Corp (UMBF.O), Comerica Bank (CMA.N) and Keycorp (KEY.N), citing large deposit outflows and prevailing higher interest rates. A sharp rise in interest rates is weighing on many U.S. banks' funding and liquidity, S&P said in a summarized note, adding that deposits held by Federal Deposit Insurance Corp (FDIC)-insured banks will continue to decline as long as the Federal Reserve is "quantitatively tightening." The rating agency also downgraded the outlook of S&T Bank and River City Bank to negative from stable on high commercial real estate (CRE) exposure among other factors. Reporting by Gokul Pisharody in Bengaluru; Additional reporting by Akanksha Khushi; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Moody's, Bank of New York Mellon BK.N, Gokul, Akanksha Khushi, Varun Organizations: Global, National Bancorp, UMB Financial Corp, Comerica Bank, Federal Deposit Insurance Corp, Federal, T Bank, City Bank, Bank of New York Mellon, US Bancorp, Truist, Silicon Valley Bank, Signature Bank, Thomson Locations: New York City, U.S, Silicon, Bengaluru

☆ Meta to soon launch web version of Threads in race with X for users
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

Meta Threads app logo is seen in this illustration taken, July 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAug 20 (Reuters) - Meta Platforms (META.O) is set to roll out the web version on its new text-first social media platform Threads, hoping to gain an edge over X, formerly Twitter, as the initial surge in users waned. The widely anticipated web version will make Threads more useful for power users like brands, company accounts, advertisers and journalists. Meta did not give a date for the launch, but Instagram head Adam Mosseri said it could happen soon. It will soon roll out an improved search that could allow users to search for specific posts and not just accounts.

Persons: Dado Ruvic, Meta, Adam Mosseri, Mosseri, Yuvraj Malik, Gokul, Christian Schmollinger, Arun Koyyur Organizations: REUTERS, Street, Thomson Locations: Bengaluru

☆ Meta to launch web version of Threads App early next week - WSJ
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

Aug 20 (Reuters) - Meta Platforms (META.O) plans to launch a web version of its microblogging app Threads early next week, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Reporting by Gokul Pisharody in Bengaluru; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Gokul, Christian Schmollinger Organizations: Wall Street, Thomson Locations: Bengaluru

☆ DuPont to sell Delrin resins unit to PE firm for around $1.8 bln - Bloomberg News
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsAug 20 (Reuters) - Materials and chemicals maker DuPont De Nemours Inc (DD.N) is in advanced talks to sell its Delrin resins unit to private equity firm The Jordan Company for about $1.8 billion, Bloomberg News reported on Sunday, citing people familiar with the matter. Jordan Company could announce the deal as soon as this week, the report said, adding that no final decision has been made and that talks could still fall apart. Lone Star and Platinum Equity were the other bidders for the assets, Bloomberg News had reported earlier in the month. Dupont and Jordan Company did not immediately respond to Reuters' request for comment.

Persons: Denis Balibouse, Delrin, Dupont, Gokul Pisharody, Kanjyik Ghosh, Muralikumar Anantharaman, Christopher Cushing Organizations: REUTERS, DuPont De Nemours Inc, Jordan Company, Bloomberg, Lone Star, Equity, Bloomberg News, DuPont, Reuters, Thomson Locations: Dupont, Geneva, Switzerland, Bengaluru

☆ Credit Suisse retail investors plan lawsuit challenging UBS buyout- FT
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: 1 min

The logo of Credit Suisse is seen outside its office building in Hong Kong, China, August 8, 2023. REUTERS/Tyrone SiuAug 13 (Reuters) - Retail investors who lost money when Credit Suisse was taken over by UBS in March plan to file a lawsuit challenging the buyout, the Financial Times reported on Sunday. The Swiss Investor Protection Association plans to file the claim in Zurich's commercial court on Monday on behalf of about 500 Credit Suisse equity investors, the newspaper said. Reporting by Gokul Pisharody in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Gokul, William Mallard Organizations: Credit Suisse, REUTERS, UBS, Financial Times, Swiss Investor Protection Association, Thomson Locations: Hong Kong, China, Bengaluru

☆ UK defence ministry: Kremlin may no longer fund Wagner Group
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +1 min

A staff removes a logo on a window of the "PMC Wagner Centre", associated with the founder of the Wagner Group, in Saint Petersburg, Russia July 1, 2023. REUTERS/Anton VaganovAug 13 (Reuters) - Britain's defence ministry said on Sunday there was a realistic possibility that Russia no longer funds the activities of the mercenary Wagner Group. loadingThe defence ministry said in a daily bulletin the Russian state has acted against some other business interests of Wagner owner Yevgeny Prigozhin after he led a failed mutiny against the Russian army's top brass in June. "If the Russian state no longer pays Wagner, the second most plausible paymasters are the Belarusian authorities," it said, adding that this would be a drain on Belarus' resources. The ministry said the Wagner Group was moving towards downsizing and reconfiguring to save on staff salary expenses at a time of financial pressure.

Persons: Anton Vaganov, Wagner, Yevgeny Prigozhin, Gokul, William Mallard Organizations: PMC, Wagner, REUTERS, Wagner Group, Thomson Locations: Saint Petersburg, Russia, Russian, Belarusian, Belarus, Bengaluru

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