Business

BEIJING, June 14 (Reuters) – The global communications director of the China-led Asian Infrastructure Investment Bank (AIIB) said on Wednesday he had resigned and criticised the bank as “dominated by the Communist Party”, allegations which the AIIB said were “baseless”.Bob Pickard announced the move on his personal Twitter account, saying he had left because of… […]

LIMA, June 13 (Reuters) – World Bank President Ajay Banga wants the lender to focus on more “scalable, replicable” projects across Latin America and elsewhere for transport and infrastructure and digitization of government and financial services to speed development.Banga, on his first foreign trip since taking office, told Reuters on Monday that he wanted the… […]

NEW YORK, June 13 (Reuters) – Amazon is excluding its new competitor Temu from its price searching algorithm that checks if products sold on its platform are competitive with rivals, saying the site doesn’t meet its standards.According to Amazon, Temu, an e-commerce marketplace that launched in September, does not meet its strict qualification requirements for… […]

NEW YORK, June 13 (Reuters) – Wells Fargo & Co (WFC.N) expects an upside in net interest income going ahead, Chief Financial Officer Mike Santomassimo said on Tuesday.The bank had earlier issued guidance for a 10% higher net interest income this year, more than the full-year 2022 level of $45 billion.Santomassimo, who was speaking at… […]

June 13 (Reuters) – Boeing (BA.N) delivered 50 jets in May, 13 fewer than European rival Airbus (AIR.PA), but a 43% improvement on the same month last year.Deliveries of the cash-generating Boeing 737 MAX increased to 35 jets in May, Boeing said Tuesday. The company handed over only 17 MAXs to customers the prior month,… […]

[1/2] A employee walks inside a Sainsbury’s supermarket in Richmond, west London, Britain, June 27, 2022. Picture taken June 27, 2022. REUTERS/Henry Nicholls/File PhotoLONDON, June 13 (Reuters) – Britain’s competition watchdog has secured pledges from supermarket groups Sainsbury’s (SBRY.L) and Asda to cease using unlawful land agreements after it uncovered 32 anti-competitive deals, it said… […]

June 12 (Reuters) – Electric vehicle charging companies are cautiously embracing Tesla’s (TSLA.O) charging technology as the main U.S. standard, mere days after Ford (F.N) and GM (GM.N) said they were adopting it, but questions remained about how any interoperability would work.The rare agreements between Tesla Inc and each of the two U.S. automakers, who… […]

[1/2] Steam and smoke billow from the Ratcliffe-on-Soar coal-fired power station near Nottingham, Britain, December 1, 2017. REUTERS/Hannah McKay/File PhotoLONDON, June 12 (Reuters) – Britain’s National Grid has asked Uniper (UN01.DE) to ready a unit at its Ratcliffe coal-fired power plant in case extra electricity is needed on Monday amid warmer temperatures.Britain has a target… […]

June 12 (Reuters) – Electric vehicle charging equipment makers Blink Charging (BLNK.O), ChargePoint (CHPT.N) and Tritium (DCFC.O) said on Monday they will offer chargers with Tesla’s connector, as the standard Combined Charging System (CCS) connector falls out of favor with automakers.General Motors (GM.N), one of the largest U.S. automakers, said last week it would join… […]

BENGALURU, June 12 (Reuters) – Egyptian Supply Minister Ali Moselhy said on Monday that no credit line had been opened with India but discussions were ongoing regarding payments for imports using currencies other than the dollar.Bloomberg News, citing Moselhy, had earlier reported that India was providing Egypt with a credit line worth an unspecified value.… […]