TOKYO/SEOUL (Reuters) – The Japanese government has reversed curbs on exports of photoresists to South Korea, one of three technology materials which it had restricted since July, a Trade Ministry official said on Friday. The step comes as Prime Minister Shinzo Abe and South Korean President Moon Jae-in are expected to meet on Tuesday on […]
World News
Ethiopia aims to cut sugar tax ahead of privatization plan
ADDIS ABABA (Reuters) – Ethiopia plans to cut an excise tax on sugar to 20% from 33%, according to a draft law in parliament, proposing the move ahead of plans to privatize the sugar industry as part of a government drive to open up the economy. A trader said the tax, presented to parliament on […]
Ruling on Ryanair bid to delay COO’s easyJet move set for December 23
DUBLIN (Reuters) – The Irish High Court will rule on Monday Dec. 23 on whether Ryanair <RYA.I> can prevent its operations chief Peter Bellew from joining arch-rival easyJet <EZJ.L> until 2021, a court official said on Friday. Ryanair has argued that Bellew possesses information of competitive value and that he is bound by a non-compete […]
China says case of detained Canadians turned over to prosecutors
BEIJING (Reuters) – China’s foreign ministry said on Friday that an investigation into two Canadians detained on state security charges since December last year had ended, and the case had been turned over to prosecutors. Michael Spavor and Michael Kovrig were detained in China shortly after Canadian authorities arrested Huawei Technologies Co’s [HWT.UL] Chief Financial […]
UK PM Johnson: There will be no alignment with EU rules in future relationship
LONDON (Reuters) – British Prime Minister Boris Johnson said on Friday there would be no alignment with European Union rules under the terms of the free trade deal he wants to strike with the bloc next year. Johnson said his divorce deal “paves the way for a new agreement on our future relationship with our […]
Aberdeen Standard unit to manage smaller Woodford fund
By Carolyn Cohn LONDON (Reuters) – Standard Life Investments, part of Aberdeen Standard Investments (ASI) <SLA.L>, will replace Neil Woodford as manager of the LF Woodford Income Focus fund, administrator Link Fund Solutions said on Friday. The 270 million pound ($351.73 million) fund was suspended after Woodford closed his firm following the collapse of his […]
Volkswagen takes one-two punch in Australia with fine, lawsuit
By Rashmi Ashok and Aby Jose Koilparambil (Reuters) – Volkswagen AG <VOWG_p.DE> took two raps in Australia on Friday as a court slapped a A$125 million ($86 million) fine on the German car maker as part of a global emissions cheating scandal and a regulator launched a civil lawsuit against a unit. The federal court […]
Lloyds offers payments to HBOS victims after compensation rebuke
LONDON (Reuters) – Lloyds Banking Group <LLOY.L> has offered additional payments of 35,000 pounds each to 191 victims of one of Britain’s biggest banking scandals, after a review of its handling of a compensation scheme found “serious shortcomings”. Britain’s biggest mortgage lender has struggled to contain the fallout from a fraud at Halifax Bank of […]
ECB expected to allot 2.4 billion euros at regular refinancing tender
(Reuters) – Banks will borrow 2.4 billion euros ($2.7 billion) from the European Central Bank at its regular refinancing tender for next week, a Reuters poll of euro money market traders showed on Friday. That is lower than the 2.5 billion euros maturing from last time. Forecasts in the poll of 16 traders and analysts […]
U.S. fund firm Eaton Vance opens Brexit hub in Dublin
LONDON (Reuters) – U.S. asset manager Eaton Vance has opened a Dublin office to cope with Brexit uncertainty, it said on Friday. The $500 billion asset manager joins firms such as Standard Life Aberdeen <SLA.L> and Legal & General <LGEN.L> in setting up bases in Ireland ahead of Britain’s departure from the European Union next […]