5 Min Read
(Reuters) - Corporate executives and investors say they want world leaders at next week’s climate summit to embrace a unified and market-based approach to slashing their carbon emissions.
FILE PHOTO: A farmer burns paddy waste stubble in a field on the outskirts of Ahmedabad, India November 15, 2017. REUTERS/Amit Dave
The request reflects the business world’s growing acceptance that the world needs to sharply reduce global greenhouse gas emissions, as well as its fear that doing so too quickly could lead governments to set heavy-handed or fragmented rules that choke international trade and hurt profits.
The United States is hoping to reclaim its leadership in combating climate change when it hosts the April 22-23 Leaders Summit on Climate.
4 Min Read
LONDON (Reuters) - World stocks were on course to extend a five-day run of record highs on Thursday, while Bitcoin took a breather after its latest surge and Russia’s markets tumbled at the prospect of the harshest U.S. sanctions in years.
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 14, 2021. REUTERS/Staff/File Photo
For traders, it was hard keeping up. Europe’s STOXX 600 opened with a new all-time high as a flurry of positive earnings offset growing worries about a third wave of COVID infections on the continent.
Breakingviews
By Reuters Staff
2 Min Read
Park Jung-ho, CEO of SK Telecom, attends a launching ceremony for its 5G service, in Seoul, South Korea, April 3, 2019. REUTERS/Kim Hong-Ji
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
MELBOURNE (Reuters Breakingviews) - SK-POP. South Korea’s SK Telecom is broadcasting a clearer signal to shareholders. The $21 billion company led by Park Jung-ho unveiled plans to split itself up by spinning off technology investments, including stakes in chipmaker SK Hynix and e-commerce outfit 11street, from its dominant but low-growth mobile and broadband businesses.
Specifics like share ratios and dividend policy remain to be seen, but the basic idea is promising. Assume the telecom business is valued at 5 times the EBITDA that Citigroup analysts forecast for 2021, and it would be worth about $16 billion after backing out net debt. They also estimate the combined net asset value for the rest at about $
3 Min Read
NEW YORK (Reuters) - The dollar index edged higher on Thursday in choppy trading as investors balanced bullish data showing U.S. retail sales rebounded sharply in March against a continued drop in U.S. Treasury yields.
FILE PHOTO: A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration
Retail sales increased 9.8% last month, the Commerce Department said on Thursday, beating economists’ expectations for a 5.9% increase.
A separate report also showed that initial claims for state unemployment benefits totaled a seasonally adjusted 576,000 for the week ended April 10, compared with 769,000 in the prior week. Economists polled by Reuters had forecast 700,000 applications in the latest week.