BEIJING (Reuters) – China expects its retail sales to reach around 50 trillion yuan by 2025, the Ministry of Commerce said on Friday. China will further strengthen the effect of consumption on economic development in the next five years, the commerce miniStry said in notice outlining ITS domestic trade plan for 2021-2025. (Reporting by Albee…
By Sonali Paul and Florence Tan MELBOURNE (Reuters) -Oil prices edged down on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the COVID-19 slump and producer restraint, even as infections surged to record highs around the world. Brent crude futures fell 3 cents…
By Hyunjoo Jin SAN FRANCISCO (Reuters) -Tesla Inc is recalling more than 475,000 of its Model 3 and Model S electric cars to address rearview camera and trunk issues that increase the risk of crashing, the U.S. road safety regulator said on Thursday. The National Highway Traffic Safety Administration (NHTSA) has been discussing another camera…
SHANGHAI (Reuters) – China’s state planner is making a nationwide push to boost the country’s nascent real estate investment trusts (REITs) market, as Beijing seeks to speed up infrastructure investment. The National Development & Reform Commission (NDRC) urged its local bureaus to step up publicity, cut red tape, and improve services, so that more infrastructure…
BEIJING (Reuters) -Chinese telecoms equipment giant Huawei Technologies Co Ltd, battered by U.S. sanctions, expects 2021 revenue to have declined nearly 30% and predicted continued challenges in the New Year. Revenue for the year is expected to be 634 billion yuan ($99.48 billion), rotating chairman Guo Ping said in a New Year letter to employees…
(Corrects to Air Line Pilot’s Association, Int’l from Allied Pilots Association, last paragraph) By Abhijith Ganapavaram and Aishwarya Nair (Reuters) – U.S. airline cabin crew, pilots and support staff are reluctant to work overtime during the holiday travel season despite being lured with hefty financial incentives because of the growing fear of contracting COVID-19 and…
BEIJING (Reuters) – China’s December factory activity unexpectedly accelerated despite disruptions from COVID outbreaks and as the economy loses momentum in the fourth quarter, according to an official survey released on Friday. The official manufacturing Purchasing Manager’s Index (PMI) rose to 50.3 in December from 50.1 in November, data from the National Bureau of Statistics…
By Echo Wang (Reuters) – Wall Street closed lower on Thursday, retreating late in thin holiday volume from record highs set early in the session on strong U.S. data including a drop in weekly claims for U.S. unemployment benefits. With one trading day left, the S&P 500 was set to end the year more than…
By Katanga Johnson WASHINGTON (Reuters) – Global stock markets reversed gains after a day-long rally on Thursday even as fresh U.S. economic data indicated that a recent uptick of Omicron COVID-19 variant-related infections has not yet led to a surge in layoffs, a positive sign for the economy. Thin trading volumes, which led to a…
By David Shepardson (Reuters) -A U.S. trade group representing major passenger and cargo airlines asked the Federal Communications Commission (FCC) on Thursday to halt deployment of new 5G wireless service at some airport locations. AT&T and Verizon Communications are set on Jan. 5 to deploy C-Band spectrum 5G wireless service that they won in an…
