Category: Business

Australian telecom firm Telstra Corp (TLS.AX) said it will sell a 49% stake in its mobile tower business for A$2.8 billion ($2.1 billion) and return half the sale proceeds to investors, sending its shares to their highest level in over a year. A consortium of Australia’s sovereign wealth Future Fund and pension funds Commonwealth Superannuation […]

Lawyers fighting the extradition of Huawei’s chief financial officer to the United States on Tuesday presented internal emails from British bank HSBC (HSBA.L) that they said disproved U.S. claims that Huawei misled the bank. CFO Meng Wanzhou’s legal team said the emails and documents submitted to a Canadian court showed at least two senior HSBC […]

Sudan received approval from the International Monetary Fund on Tuesday for relief on more than $56 billion in debt and new IMF funding of $2.5 billion over three years. The IMF has accepted the East African country into the Highly Indebted Poor Countries (HIPC) initiative based on the country’s commitment to macroeconomic reforms, it said, […]

Mercuria Energy Group had a boom year in 2020, buoyed by the extreme volatility seen in oil markets caused by the COVID-19 pandemic, as well as very strong returns across its portfolio, particularly gas and power. The Geneva-based firm had its best year ever in 2020, making $786 million, compared with $576 million in 2019, […]

U.S. stocks continued their momentum on Tuesday, with all three major indexes up in early afternoon. The S&P 500 and Nasdaq both hit record highs, lifted by shares of heavyweight technology firms and by Morgan Stanley (MS.N), while an upbeat consumer confidence report set a positive tone for key jobs data at the end of […]

Activist investor Engine No. 1 spent roughly $12.5 million to win three board seats at Exxon Mobil Corp(XOM.N), less than half its originalbudget, for the year’s biggest and most closely watched corporate contest, people familiar with the number said. Engine No. 1 in May shocked the oil-and-gas industry when Exxon shareholders, frustrated by weak returns […]

Mexico is looking at new ways to carry out the worker contract votes that are required under a recent labor reform, officials said on Tuesday, after a disputed vote at a General Motors plant drew U.S. scrutiny over possible worker rights violations. Mexican authorities found “serious irregularities” in the April vote at GM’s (GM.N) pick-up […]