Category: Business

Kraft Heinz Co said on Tuesday it plans to invest 140 million pounds ($198.83 million) in its food manufacturing facility in northwest England over the next four years, subject to U.S. approval. The investment would be the company’s biggest expansion of an existing manfacturing site outside the United States in more than 20 years. The […]

Loopholes in China’s green financing rules could allow big state-owned firms to use proceeds from “carbon-neutral bonds” to fund day-to-day operations including coal-fired power plants, according to research published on Tuesday. The Institute for Energy Economics and Financial Analysis examined the first batch of yuan-denominated carbon-neutral bonds issued this year by giant state-owned energy corporations […]

China’s factory activity expanded at the fastest pace this year in May as domestic and export demand picked up, though sharp rises in raw material prices and strains in supply chains crimped some companies’ production, a business survey showed on Tuesday. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 52.0 last month, the highest […]

Private-equity firms KKR & Co and Clayton Dubilier & Rice LLC are nearing a deal to take Cloudera Inc private at a valuation of $4.7 billion, Bloomberg News reported on Monday, citing a person familiar with the matter. The private-equity giants are likely to finalise a deal on Tuesday to acquire the software firm at […]

Canada’s Centerra Gold Inc on Monday said Kyrgyzstan units Kumtor Gold Co and Kumtor Operating Co have commenced bankruptcy proceedings in a U.S. court following nationalization of the miner’s Kumtor gold mine by the former Soviet republic. Centerra said the Chapter 11 filing would have no financial or operational impact on it or any other […]

South Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fuelled by stronger consumer demand globally as many economies start to reopen. Surging chip and car shipments helped power a 45.6% surge in South Korea’s exports from a year earlier, government data showed on Tuesday, posting the […]

The European Union is set to unveil plans for a bloc-wide digital wallet on Wednesday, following requests from member states to find a safe way for citizens to access public and private services online, the Financial Times reported. The app will allow citizens across the EU to securely access a range of private and public […]