BUSINESS - Page 35

In a blog post on Monday, Walt Disney urged Charter Communications’ Spectrum cable service customers to consider switching to a live television option from Hulu. Disney owns a majority stake in Hulu, which includes ESPN and ABC among its offerings. The companies have been at odds over a new distribution deal, and the Disney channels have been blacked out on Charter’s service since Thursday. In a statement, Disney said it hoped the two companies would be able to reach an

Volvo India has taken a significant step towards electrifying India’s automotive landscape with the launch of the Volvo C40 Recharge. This electric crossover is the latest addition to the Swedish luxury automaker’s electric vehicle (EV) lineup in India, following the XC40 Recharge. Let’s dive into the details of this electrifying development. A Striking Arrival The C40 Recharge made its grand entrance into the Indian market after its announcement in June 2023. With a sleek and modern design, it is a

Shares of Australia’s Liontown Resources (LTR.AX) shot up 11.5% after the lithium developer’s board backed on Monday a refreshed A$6.6 billion ($4.3-billion) Bid from Albemarle Corp (ALB.N), the world’s biggest producer of the battery material. The Bid represents a 68% premium to Liontown’s last close and is 20% higher than an offer in March that the company rejected. Albemarle said it had made the new proposal because of its “significant chemical conversion abilities and existing links with Liontown’s customers.” The

The Labor Department publishes its monthly jobs report early Friday. The initial nonfarm payroll count is usually weaker in August. But the unemployment rate probably held at more than 50-year lows as labor market conditions remain tight. And that means wages likely rose again last month. A weaker-than-expected jobs report could ratchet up concerns about an economic slowdown and the emergence of a recession, but most economists say that’s unlikely. The US economy appears to be in a sweet spot

BMW, a pioneering force in the automotive industry, has taken a significant step towards electrifying its iconic Mini Cooper lineup. The fifth-generation Mini Cooper, now known as the Mini Cooper E, is a trailblazing electric vehicle (EV) that promises an impressive range and sports a distinctive design, setting it apart from its combustion engine counterparts. The Mini Cooper E marks a departure from tradition as it becomes the first Mini EV to feature a design distinct from its traditional internal

China Evergrande lost as much as $2 billion, or 80% of its market value, on Monday after its shares resumed trading after 17 months. The resumption of trade is a crucial step for the world’s most indebted property firm as it seeks to restructure its offshore debt and avoid a disorderly collapse that could send shockwaves through global markets and spark social unrest. It also sets an important precedent for investors in Chinese developers who face a similar set of

On Monday, Singapore’s second-biggest bank, Oversea-Chinese Banking Corp (OCBC.SI), said that it had restored all its banking services after grappling with technical problems that disrupted various banking channels. It had taken to its social media accounts earlier to warn of the issues that began at 8:33 a.m. OCBC, Southeast Asia’s second-biggest lender by assets, apologized for the inconvenience and said it had done everything to restore its systems as quickly as possible. The incident was not due to a cyber

Credit Suisse, now a subsidiary of UBS (UBSG.S), posted a loss of 3.5 billion Swiss francs ($4.0 billion) in the second quarter, according to a report in Sonntagszeitung, which cited insiders at the bank. The result underscores how the 166-year-old lender, once a linchpin of Switzerland’s banking system, has been crippled by bad debt and other losses. Worries that the bank might have more undiscovered financial land mines have weighed heavily on investors, and the stock has fallen 60 percent