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Shopify offloads its logistics baggage

Shopify is finding that simpler is better after all. The Canadian e-commerce firm said on Thursday that it is cutting staff by 20% and selling its logistics arm to freight company Flexport in exchange for a 13% equity interest, to add to Shopify's existing small stake. Investors welcomed the move: Shares of the company led by Tobias Lütke shot up over 20% in morning trade.

Canada , Toronto , Ontario , Canadian , John-foley , Europe-jpmorgan , Amanda-gomez , Unilever , Thomson-reuters-trust-principles , Reuters-breakingviews , Although-shopify , Sharon-lam

Singapore's Keppel to become asset manager focusing on green energy

Singapore's Keppel Corp said on Wednesday it would transform itself into an asset manager overseeing $150 billion by 2030 and focusing on green energy, betting it would provide more stable revenue streams and earnings.

Singapore , Bengaluru , Karnataka , India , Sameer-manekar , Uttaresh-venkateshwaran , Loh-chin-hua , Singapore-keppel-corp , Reuters , Thomson-reuters-trust-principles , Keppel-corp , Semcorp-marine

South African rand gains before Fed rate decision

The South African rand gained on Wednesday ahead of a Federal Reserve interest rate announcement that will set the tone for markets globally.

South-africa , Johannesburg , Gauteng , South-african , Annabel-bishop , Ed-osmond , Warren-venketas , Bhargav-acharya , Tannur-anders , Johannesburg-stock-exchange , African-reserve-bank , Thomson-reuters-trust-principles

Qantas picks first female CEO to lead the airline

Australia's flagship carrier, Qantas Airways Ltd , on Tuesday named finance chief Vanessa Hudson as its next chief executive officer, making her the first woman to lead the century-old airline.

Bengaluru , Karnataka , India , New-zealand , Australia , Australian , Richard-goyder , Michael-kaine , Maju-samuel , Jayne-hrdlicka , Owen-birrell , Vanessa-hudson

China's Midea regains outbound deal appetite

Midea , a $58 billion Chinese white goods champion, made waves in Europe in 2016 when it bought German robot maker Kuka for nearly $5 billion. Seven years later, the company is eyeing Sweden’s home appliance brand Electrolux , a complementary asset currently worth around $7 billion including debt. A successful tilt could mark the beginning of a revival in outbound M&A by Chinese firms after offshore deals touched a historic low of $29 billion in 2022, per EY estimates.

Germany , Sweden , Guyana , China , German , Germans , Chinese , Pete-sweeney , Thomas-shum , Thomson-reuters-trust-principles , Bloomberg , Exxon

Exxon burns brighter on Permian and Guyana

Exxon Mobil burned brighter in the first quarter, thanks to the Permian Basin and Guyana. The $485 billion oil giant earned $11.4 billion, or twice as much as it did the same period a year ago. Moreover, while the firm continued to shower its investors with cash, sending them $8.1 billion, the company also increased production to 3.8 million barrels of oil equivalent per day, a 4% rise from a year ago.

Texas , United-states , Guyana , Eli-lilly , Amanda-gomez , Robert-cyran , Lauren-silva-laughlin , International-monetary-fund , Thomson-reuters-trust-principles , Exxon , Reuters-breakingviews , Permian-basin

South Korea's chip dilemma gets sharper

President Yoon Suk Yeol is walking a diplomatic tightrope. As the South Korean leader starts his week-long state-visit to the United States marking the 70th anniversary of the countries' alliance, the White House has asked Seoul to "urge" its chipmakers not to fill any supply shortfalls in China if Beijing cracks down on Idaho-based Micron Technology , the Financial Times reported, citing four sources. There are no good options for Yoon.

White-house , District-of-columbia , United-states , Seoul , Soult-ukpyolsi , South-korea , North-korea , China , Beijing , South-korean , America , Una-galani

'South Park' showdown animates streaming dilemma

Paramount and Warner Bros Discovery are fighting over “South Park” like the foul-mouthed characters on the show. The spat highlights the arms-dealer mentality sweeping media, Jennifer Saba writes.

David-zaslav , Jennifer-saba , Trey-parker , Bob-bakish , Matt-stone , Jeffrey-goldfarb , Bob-iger , Allianz , Disney , Thomson-reuters-trust-principles , Reuters-breakingviews , Warner-bros-discovery

Breakingviews: Fox is not out of the woods yet

Rupert Murdoch’s Fox will find that a damaged beast attracts more foes. The media company which operates cable network Fox News settled a defamation lawsuit on Tuesday for approximately half of the $1.6 billion sought in damages by the plaintiff, Dominion Voting Systems. In a statement, Fox acknowledged the court’s ruling “finding certain claims about Dominion to be false.”

India , Rupert-murdoch-fox , Thomas-shum , Jennifer-saba , Antony-currie , Lachlan-murdoch , Thomson-reuters-trust-principles , Reuters-breakingviews , Fox-news , Dominion-voting , Chief-executive-lachlan-murdoch , Thomson-reuters-trust

Saudi Aramco 4% stake transferred to PIF's Sanabil

A 4% stake in oil major Saudi Aramco has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund, Crown Prince Mohammed Bin Salman said on Sunday.

Dubai , Dubayy , United-arab-emirates , Saudi-arabia , Saudi , David-goodman , Hadeel-al-sayegh , Saudi-aramco , Reuters , Thomson-reuters-trust-principles , Sanabil-investments , Crown-prince-mohammed-bin-salman