BERLIN (AP) — The German government’s panel of independent economic advisers on Wednesday slashed its 2022 growth forecast for Europe’s biggest economy in light of Russia’s invasion of Ukraine and concern over energy supplies and prices. The group forecast that Germany’s gross domestic product will expand by only 1.8% this year, compared with the 4.6%…
By Noah Browning LONDON (Reuters) -Oil prices clawed back heavy losses to rise more than 2% on Wednesday on supply tightness and the growing prospect of new Western sanctions against Russia even as signs of progress emerged from peace talks between Moscow and Kyiv. Brent crude futures were up $2.48, or 2.3%, at $112.71 by…
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) -India’s antitrust agency on Wednesday raided offices of tyre companies including Germany’s Continental AG and India’s Apollo Tyres and CEAT in a case of suspected competition law violations, four sources told Reuters. Shares of Apollo, one of India’s biggest tyre makers, fell as much as 3%…
PARIS (Reuters) – Carrefour said on Wednesday it aims to install over 700 electric vehicles charging stations and 5,000 charging points at its French hypermarkets and Carrefour Market supermarkets by 2025. Carrefour is joining a host of retailers worldwide such as Starbucks which are banking on the extra service to woo shoppers and also boost…
(Corrects Thyssenkrupp statement in fourth paragraph after company clarifies that the facility assembles production lines for powertrains and other products rather than producing powertrains) SHANGHAI (Reuters) -Shanghai’s COVID-19 lockdown roiled auto production on Tuesday as two major suppliers joined Tesla in shutting plants to comply with measures to control the spread of the coronavirus. General…
TOKYO (Reuters) -Parts supply disruptions continued to affect Japanese automakers’ global production for February but the results released on Wednesday showed a clear contrast among them, with Toyota and Honda out in front. Toyota Motor Corp said its group, including Daihatsu and Hino Motors Ltd, produced 884,528 vehicles globally for the month, an increase of…
BERLIN (AP) — Germany and Austria activated early warning plans Wednesday amid concerns that Moscow could cut natural gas deliveries, while Poland announced steps to end all Russian oil imports by year’s end, in fresh signs of how Russia’s war in Ukraine is affecting Europe’s energy security. The German government said it was establishing a…
BEIJING (AP) — Asian stock markets sank Thursday after Chinese manufacturing weakened and Russian shelling around Ukraine’s capital shook hopes of progress in peace talks. Shanghai, Hong Kong and Tokyo declined while Seoul gained. Oil fell nearly $7 per barrel in New York but stayed above $100. Wall Street’s benchmark S&P 500 index fell 0.6%…
By Phuong Nguyen and Hyunjoo Jin HANOI/SAN FRANCISCO (Reuters) – Vietnam’s automaker VinFast said on Tuesday it has signed a preliminary deal to initially invest $2 billion to build a factory in North Carolina to make electric buses, sport utility vehicles (SUVs) along with batteries for EVs. The unit of Vietnam’s biggest conglomerate Vingroup, said…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -Japan’s central bank stepped up efforts to stop a key bond yield rising across a red line on Wednesday, offering to buy more government debt, including through ad-hoc purchases, to keep interest rates low against a pull higher from global yields. The Bank of Japan’s (BOJ) intervention…
