Tag: Business
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What next for BP? Leadership exits test investor confidence in board oversight
An executive exodus at BP has sparked intense scrutiny from investors.
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Dollar holds steady as US-Iran tensions and inflation data loom
TOKYO, June 10 : The dollar held steady against its peers on Wednesday as markets remained on edge over the latest clash between the U.S. and Iran, while investors awaited key U.S. inflation data for clues on the Federal Reserve’s rate path.The U.S. military struck Iranian targets after President Donald Tru
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Ride-hailing app Bolt expands to Italy in bid to shake up underserved market
ROME, June 10 : Ride-hailing app Bolt launched operations in Milan on Wednesday in the first stage of a push to shake up the Italian urban transport market, which its CEO told Reuters remains heavily underserved despite the presence of U.S. rival Uber.Estonia-based Bolt will work with hundreds of drivers in M
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Japan’s Asics to spin off popular Onitsuka Tiger sneaker business; shares rise
TOKYO, June 10 : Japan’s Asics on Wednesday said it will spin off its high-end Onitsuka Tiger business, a key driver behind four straight years of record profit thanks to a tourism boom and a surge in demand for its retro-inspired sports shoes. Under the plan, the nearly 80-year-old Onitsuka Tiger business wi
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Indonesian central bank says governor briefs foreign investors following surprise rate hike
JAKARTA, June 10 : Indonesia’s central bank has briefed investors from Europe, the United States and Asia following its surprise rate hike, senior deputy governor Destry Damayanti told Reuters on Wednesday.On Tuesday, Bank Indonesia raised interest rates by 25 basis points in a rare off-cycle move to 5.50 per
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BOJ set to raise key rate to 1.0% in June, 1.25% by year-end: Reuters poll
TOKYO, June 10 : The Bank of Japan will raise its key interest rate this month and again in the fourth quarter, taking borrowing costs to 1.25 per cent by year-end, as it grows more wary of inflation risks than downside hazards to the economy, a Reuters poll of economists showed.BOJ Governor Kazuo Ueda all…
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Japan’s Asics to spin off Onitsuka Tiger business
TOKYO, June 10 : Japan’s Asics Corp on Wednesday said it will spin off its high-end Onitsuka Tiger business, a key driver behind four straight years of record profit, in a bid to speed up decision-making and boost competitiveness.Asics shares were up 2.7 per cent in late morning trading in Tokyo, compared wit
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OpenAI weighs leasing Ohio data center with Nvidia backing, The Information reports
June 9 : OpenAI is in negotiations to lease a proposed 10-gigawatt data center campus on federal land in Ohio, in a deal that could include financial backing from Nvidia, The Information reported on Tuesday, citing two people with direct knowledge of the discussions.Reuters could not immediately verify the re
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Meta ties up with Ambani’s Reliance for AI data center in India
June 10 : Facebook-parent Meta said on Wednesday that it has tied up with Indian billionaire Mukesh Ambani’s Reliance Industries for an AI-enabled data center in India. Reliance will build a data center with 168 MW capacity in Jamnagar, Gujarat, which Meta will lease, with options to scale, according to the s
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Starbucks mulls options for Japan business, including stake sale, Bloomberg reports
June 9 : Starbucks is weighing options for its Japanese business, including a stake sale, Bloomberg News reported on Tuesday. A stake sale might be valued at ¥400 billion ($2.5 billion) to ¥500 billion, possibly attracting interest from other industry players and private equity firms, the report added, cit
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