Today: May 03, 2024
Today: May 03, 2024

Economy

China's state planner warns intensified EV price war on oversupply

SHANGHAI (Reuters) - China's state planner expects an intensified price war among automakers of electric cars and plug-in hybrids this year because of overhanging supply, among other issues, the

Tesla cuts prices in China, Germany and around globe after US cuts

By Hyunjoo Jin, Ethan Wang and Christoph Steitz BEIJING/FRANKFURT (Reuters) -Tesla has cut prices in a number of its major markets, including China and Germany, following price cuts in the United

As China's Xi Jinping visits Europe, Ukraine, trade and investment are likely to top the agenda

Ukraine, trade and investment are expected to dominate Chinese leader Xi Jinping's first trip to Europe in five years, which starts in France on Monday

Activist Jana, in letter, urges Wolfspeed to eye sale, other strategic alternatives

By Svea Herbst-Bayliss NEW YORK (Reuters) -Activist investor Jana Partners is urging the world's largest maker of silicon carbide Wolfspeed Inc to explore all ways to improve shareholder value,

Equities gain, gold drops as fears of wider Middle East conflict ease

By Chris Prentice and Alun John NEW YORK/LONDON (Reuters) -Investors scaled back safe-haven bets on Monday as worries over a wider Middle East conflict eased, boosting world equities and pressuring

Copper output at Chile's Codelco set to rise this year, CESCO says

By Daina Beth Solomon and Julian Luk SANTIAGO (Reuters) - Chile's state-run copper miner Codelco is poised to improve production this year and begin to climb from its lowest dip in a quarter century,

Chile's president says Codelco output to grow; touts investment climate

By Daina Beth Solomon, Alexander Villegas and Ernest Scheyder SANTIAGO (Reuters) - Chilean President Gabriel Boric told a major copper industry conference on Wednesday he expects production at state-

EU's 2050 net zero goals at risk as EV rollout faces setbacks

By Julia Payne BRUSSELS (Reuters) - The EU needs to rethink its policies to make a 2035 ban on new petrol car sales feasible as electric vehicles (EVs) remain unaffordable and alternative fuel options

Japan household spending likely accelerated pace of declines in March: Reuters poll

TOKYO (Reuters) - Japanese household spending probably accelerated its pace of declines in March, a Reuters poll showed on Thursday, underscoring the difficulties facing policymakers keen to engineer

As shale oil gains slow, deepwater port struggles for customers

By Arathy Somasekhar HOUSTON (Reuters) - As U.S. shale oil boomed last decade, an oil pipeline company pitched an ambitious multi-billion-dollar export port off the Texas coast to ship domestic crude

US aid could buy Kyiv time, but Ukraine needs many more troops

By Tom Balmforth, Charlotte Bruneau KYIV/NEAR KUPIANSK, Ukraine (Reuters) -For the exhausted Ukrainian artillery gunners holding off Russian forces near the eastern town of Kupiansk, the U.S. aid

TI forecasts Q2 revenue above estimates as analog chip demand improves

By Arsheeya Bajwa (Reuters) - Texas Instruments forecast second-quarter revenue above analysts' estimates on Tuesday, signaling an uptick in demand for its analog semiconductors after a prolonged

UAW moving quickly after VW organizing win, union president says

By Nora Eckert DETROIT (Reuters) - United Auto Workers (UAW) President Shawn Fain is moving quickly in the union's sweeping organizing push at U.S. plants across more than a dozen automakers after

Mexico president eyes fresh pension fund ahead of election

MEXICO CITY (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Tuesday he hopes to present a new fund aimed at boosting the lower pensions in the system on May 1, a month ahead of

JD Sports to buy US rival Hibbett in $1.08 billion sportswear retail deal

By Yadarisa Shabong (Reuters) -JD Sports Fashion has proposed to buy American athletic fashion retailer Hibbett Inc for about $1.08 billion, the companies said on Tuesday, as Britain's biggest

Tesla shares rise ahead of quarterly results

(Reuters) -Shares of Tesla gained on Tuesday ahead of the electric car maker's first-quarter results, with analysts expecting its lowest gross profit margin in more than six years due to price cuts

EU Parliament approves ban of products made with forced labour

BRUSSELS (Reuters) - The European Parliament approved rules on Tuesday to ban in the EU the sale, import and export of goods made using forced labour.

Electric car sales to rise but affordability in focus, IEA says

By Noah Browning LONDON (Reuters) - Electric car sales will rise strongly in 2024 and increasingly undercut oil demand, the International Energy Agency (IEA) forecast on Tuesday, adding affordability

JAL president says plans to use both Boeing and Airbus aircraft

TOKYO (Reuters) - Japan Airlines will continue using both Airbus and Boeing aircraft, President Mitsuko Tottori said on Wednesday.

Indonesia cenbank says China's Alipay+ yet to request permit

JAKARTA (Reuters) - Chinese firm Ant Group's Alipay+ has not formally requested a permit for operations in Indonesia, central bank deputy governor Filianingsih Hendarta told a news conference on

Russian court orders seizure of JPMorgan Chase funds in VTB lawsuit

MOSCOW (Reuters) - A Russian court has ordered the seizure of funds in JPMorgan Chase bank accounts in Russia, court filings showed on Wednesday, in a lawsuit filed by state-owned bank VTB as it seeks

'Now go win the fight': US Congress passes Ukraine aid after months of delay

By Patricia Zengerle and Richard Cowan WASHINGTON (Reuters) -A sweeping foreign aid package easily passed the U.S.

Biogen cost cuts drive profit beat, as Alzheimer's drug off to slow start

By Manas Mishra and Sriparna Roy (Reuters) -Biogen reported a quarterly profit that topped Wall Street estimates, helped by cost cutting, as the launch of its new Alzheimer's disease drug remained

Exclusive-EU's proposed Russia sanctions to target oil tankers, ships moving North Korean equipment

By Julia Payne and Kate Abnett BRUSSELS (Reuters) -The European Commission is expected to propose sanctions on ships delivering North Korean military equipment to Russia as well as tankers that flout

US Chamber of Commerce sues FTC for ban on noncompete agreements

By Daniel Wiessner (Reuters) -The U.S.

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