Category: Business

The global banking industry built up capital and showed its stability during the pandemic but its return on equity plunged and it has lost favor with investors to industries with more attractive growth prospects, according to a new study. “Banks withstood the pressures of 2020, and capital reserves rose last year. But it came at […]

General Motors Co (GM.N) and Ford Motor Co (F.N) are revving up their century old rivalry, this time over which will sell more electric vehicles by 2025. But with Tesla (TSLA.O) ensconced as the global EV leader and the Volkswagen Group (VOWG_p.DE) mounting a $100 billion-plus challenge, GM and Ford are racing for third place, […]

U.S. oil producer Chevron Corp (CVX.N) on Wednesday said it plans to boost spending on new oil and gas projects in 2022 by 20% to $15 billion, while also raising shareholder returns. Major oil companies are responding to a jump in profits this year from higher oil and gas prices, and have signaled they plan […]

The Biden administration could adjust the timing of its planned release of strategic crude oil stockpiles if global energy prices drop substantially, U.S. Deputy Energy Secretary David Turk told Reuters on Wednesday. Turk, speaking in a video interview for the Reuters Next conference, added that other consumer nations that had agreed to release strategic reserves […]

Three Chinese developers, including the main operation platforms of Country Garden Holdings Co and Longfor Group Holdings Ltd, plan to sell bonds in China to raise a combined 18 billion yuan ($2.83 billion), the official registration system showed late on Wednesday, evidence Beijing is marginally easing liquidity strains on the cash-strapped sector. China tightened financing […]

Mitsubishi Corp (8058.T) is looking to sell a fuel terminal that provides transportation fuels which meet California’s stringent emissions requirements, two sources familiar with the matter told Reuters on Wednesday. The company is working with Ernst and Young’s energy advisory group to market its 600,000-barrel Petro-Diamond terminal in Long Beach, California, and its corresponding fuel […]

Automakers must work closer with lithium producers to guarantee supply of specialized types of the white metal that boost an electric vehicle’s range and performance, Albemarle Corp (ALB.N) and Livent Corp (LTHM.N) executives told the Reuters Next conference on Wednesday. As EVs go mainstream, automakers are planning models that can run longer before recharging and […]