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By Norihiko Shirouzu BEIJING (Reuters) - Japan's Toyota Motor Corp said on Sunday it was setting up a research institute in Beijing in partnership with Tsinghua University to study car technology using hydrogen power and other green technologies that could ease environmental problems in China. The initiative, outlined by Toyota's President and Chief Executive Akio Toyoda in a speech at Tsinghua University, is part of the Japanese carmaker's efforts to share more technology with China as it seeks to expand its business in the country by beefing up manufacturing capacity and distribution channels, a source close to Toyota said. The Tsinghua-Toyota Joint Research Institute will conduct research into cars and new technology to solve environmental problems in China, including reducing traffic accidents, Toyota said in a statement. The institute will "cooperate in research not only related to cars for Chinese consumers, but also in research related to active utilization of hydrogen energy … [Read more...] about Toyota establishes research institute in China to study hydrogen, green technologies

By Howard Schneider and Trevor Hunnicutt WASHINGTON/NEW YORK (Reuters) - Risk-taking has been the rage since the Federal Reserve quit hiking interest rates at the end of last year. U.S. stocks are back near record highs and investors are stockpiling the lowest-grade corporate bonds with only a smidgen of extra compensation for the added risk. That rebounding mood on Wall Street may be welcomed by a president that has been demanding the Fed cut rates after markets fell sharply last year, and complaining that even pausing at the current level is the wrong call. But if anything the 'pause party' on Wall Street makes it even less likely that the U.S. central bank will cut rates. Recent positive news on retail sales and exports, which have eased concerns of a sharply slowing economy, makes the case for a rate cut even weaker. Investors at least have gotten the message, and shifted from projecting a rate cut later this year to now putting the odds at only 50-50 that the Fed will move lower … [Read more...] about Financial market ‘pause party’ makes Fed rate cut less likely

By Simon Jessop LONDON (Reuters) - Nearly half of all people working in Britain's financial services industry have followed their parents into the sector, more than three times the national average, research from consultants KPMG showed. The finding comes as policymakers and investors push the industry to improve diversity in senior management and make firms more inclusive in an effort to improve corporate governance as well as shareholder returns. The research revealed that forty-one percent of financial services staff had parents in the same sector against a national average of 12 percent. In insurance, the figure was even higher, at 54 percent. "The fact that people in financial services are more than three times more likely than the national average to have followed in their parent’s career footsteps is staggering," said Tim Howarth, head of financial services consulting at KPMG. KPMG spoke to more than 1,500 people for the survey, a third of whom worked in the banking, … [Read more...] about UK financial services? It’s a family affair

DUBAI (Reuters) - Saudi Aramco said on Sunday it would acquire Royal Dutch Shell's 50 percent stake in Saudi refining joint venture SASREF for $631 million (£485.4 million). The sale is expected to complete later this year, the two companies said in a joint statement. Saudi Aramco Shell Refinery Co (SASREF), based in Jubail Industrial City in Saudi Arabia, has a crude oil refining capacity of 305,000 barrels per day (bpd). (Reporting by Rania El Gamal; Editing by Mark Potter) … [Read more...] about Aramco to buy Shell’s 50 percent stake in Saudi refining JV for $631 million

(Reuters) - French utility Engie SA is considering a takeover of Emcor Group Inc, as it seeks to expand in the U.S. market, Bloomberg said on Saturday, citing people familiar with the matter. Engie is working with advisers to pursue a deal for the U.S.-based electrical and mechanical construction and facilities services firm, according to the report. No final decision has been made and the French company may decide against the offer, Bloomberg said https://bloom.bg/2DqCyGL. Earlier this month a consortium led by Engie won a bid for Petrobras' TAG pipeline arm with an $8.6 billion offer, in a bid to boost the company's presence in the fast-growing Brazil market. Neither Engie nor Emcor immediately responded to Reuters' request for comment. (Reporting by Sabahatjahan Contractor; Editing by Alistair Bell) … [Read more...] about France’s Engie is weighing a takeover of Emcor: Bloomberg