James Murdoch’s Bodhi Tree slashes planned investment in Reliance’s Viacom18

BENGALURU (Reuters) -Reliance Industries Ltd’s Viacom18 will receive an investment of 43.06 billion rupees ($527.84 million) from Bodhi Tree, about 70% less than what was planned by the joint venture between James Murdoch and a former Star India executive. Viacom18 said in a statement late on Thursday that Reliance was now leading the investment in …

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China will take steps to stabilise employment – cabinet meeting

BEIJING (Reuters) – China will take steps to stabilise employment, particularly at manufacturing and trading companies, state media reported on Friday, citing discussions at a cabinet meeting. Companies are slowly adding jobs again after shedding staff for months, as the world’s second-largest economy continues to warm up after the lifting of COVID restrictions late last …

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Sudan’s army says paramilitary mobilisation risks confrontation

By Khalid Abdelaziz and Nafisa Eltahir KHARTOUM (Reuters) -Sudan’s army warned on Thursday of a risk of confrontation after mobilisations by a powerful paramilitary group, underlining growing strains between the rival forces and a potential complication in moves to restore civilian rule. It could spell prolonged strife across a vast country already dealing with economic …

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Tesla expands discounts with price cuts in Europe, Singapore, Israel

By Chen Lin and Victoria Waldersee SINGAPORE/BERLIN (Reuters) -Tesla Inc on Friday slashed prices for its electric vehicles in Europe, Israel and Singapore, expanding a global discount drive it began in China in January while raising concerns about its industry-leading profit margin. Tesla last week reported first-quarter deliveries up just 4% from the previous quarter …

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PNC Financial beats profit estimates on boost from higher interest rates

(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s net interest income (NII). Shares of PNC were up nearly 3% in premarket trading after upbeat results. They fell about 20% last quarter, which was marred …

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Sibanye Stillwater reports four fatalities at S.African project

(Reuters) -Diversified miner Sibanye Stillwater on Friday reported four deaths at its Burnstone gold mining project in South Africa following the collapse of a newly constructed surface waste rock conveyor. In a statement, Sibanye said the incident took place on Thursday when five contractor employees were installing a head pulley of the conveyor infrastructure. Sibanye …

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