Lendlease declares new A500 mln buyback Strategy addresses key investor concerns UBS Shares set for best day since April 2020 May 27 Reuters Australian developer Lendlease will retreat from its overseas construction businesses and free up to A4.5 billion 2.9 billion in capital for shareholders, putting a lid on its international ambitions to shift focus on […]

May 27 Reuters Top Australian miners Rio Tinto and BHP Group will work together for testing large batteryoperated electric haul truck technology in the Pilbara region of Western Australia, Rio Tinto said on Monday. Rio and BHP, which are targeting to achieve net zero operational greenhouse gas emissions by 2050, will work with manufacturers Caterpillar and Komatsu to conduct […]

May 26 Reuters Elon Musk39;s artificial intelligence startup xAI has raised 6 billion in a Series B funding round backed by investors including Andreessen Horowitz and Sequoia Capital among others, the company said in a blog post on Sunday. The money will be used to take xAI39;s first products to market, build advanced infrastructure and […]

SHANGHAI, May 27 Reuters As Starbucks faces stiff competition for its brew in China from fastgrowing, lowcost rivals who have chipped into its market share, the coffee chain is increasingly being dragged into a price war it says it wants to avoid. The stakes are high for Starbucks, which has come under growing pressure from […]

SHANGHAI, May 27 Reuters AliExpress, an ecommerce site owned by Chinese giant Alibaba, has signed former England soccer captain David Beckham as a brand ambassador as it plays catchup with rival PDD Holdings39; Temu in a battle to sell cheap madeinChina goods to the world. A lowkey crossborder player until recently, Alibaba is now investing aggressively […]

HONG KONG, May 27 Reuters Cashstrapped China Vanke has sold a Shenzhen land plot via auction for 2.24 billion yuan 309.18 million, a filing on Monday showed, more than 27 below the price it paid for the same 19,000 squaremetre block nearly seven years ago. Vanke is working to raise funds after saying last month it is facing […]