HANOI (Reuters) – The chairman of Vietnam’s Vingroup conglomerate said on Wednesday that an initial public offering (IPO) for the company’s auto unit, VinFast, may be delayed until next year due to market uncertainty. The IPO is currently slated for the fourth quarter of this year. Vingroup Chairman Pham Nhat Vuong also told the company’s…
By Lucy Craymer WELLINGTON (Reuters) – When Aarti and Gaurav Kathuria were saving for their first home, a three-bedroom townhouse in Auckland, they cut back on eating out and other expenses so they could put together the hefty deposit. Now, only months after paying NZ$875,000 ($560,000) for a home in one of the world’s most…
COLOMBO, Sri Lanka (AP) — The South Asian nation of Sri Lanka is experiencing an unprecedented economic collapse that has pushed the government into a deep crisis. The island is struggling to import basic necessities for its 22 million people because of diminishing foreign reserves and crippling debt, spurring weeks of anti-government protests that recently…
By Kevin Buckland TOKYO (Reuters) – The dollar hovered near a two-decade high against major peers on Wednesday, ahead of a key reading on inflation that should provide clues on how aggressive the Federal Reserve will be in tightening monetary policy. The dollar index, which measures the currency versus six rivals, was around flat at…
(Reuters) – Ford Motor Co sold 8 million shares of electric carmaker Rivian Automotive Inc for $214 million, or $26.80 apiece, the U.S. automaker said in a filing on Tuesday. Ford now holds 93.9 million shares in the California-headquartered company. Rivian’s shares opened at a record low on Monday after the sale was reported by…
WASHINGTON (AP) — The House approved a resolution Tuesday that will pave the way for letting congressional staff join a union and engage in collective bargaining, a move that proponents say would enhance the ability of aides from low-and-middle-income families to make ends meet in a region with steep housing costs. Rep. Andy Levin, D-Mich.,…
COPPELL, Texas (AP) — The chief of the Transportation Security Administration said Tuesday that his agency has quadrupled the number of employees who could bolster screening operations at airports that become too crowded this summer. TSA Administrator David Pekoske said nearly 1,000 employees have volunteered to be sent to other airports if needed. It’s part…
WASHINGTON (AP) — The Senate confirmed economist Lisa Cook on Tuesday to serve on the Federal Reserve’s board of governors, making her the first Black woman to do so in the institution’s 108-year history. Her approval was on a narrow, party-line vote of 51-50, with Vice President Kamala Harris casting the decisive vote. Senate Republicans…
DETROIT (AP) — The dollars-and-cents counter on the gas pump seems to be spinning faster these days with U.S. prices hitting another record high on Tuesday. The average price for a gallon of regular unleaded hit $4.37, according to AAA, 17 cents higher than just a week ago. Last year at this time it was…
By Sheila Dang (Reuters) – Tesla Inc is open to buying a mining company if producing its own supply of electric vehicle (EV) metals would speed up worldwide adoption of clean energy technologies, Chief Executive Officer Elon Musk said on Tuesday. Concern is mounting across the EV industry that there may not be enough supply…
