TAIPEI (Reuters) – Taiwan’s economy is likely to grow at a slower pace this year that initially forecast, the statistics office said on Friday, downgrading its outlook due to global inflation and COVID-19 dampening consumer demand at home and abroad. The downward revision came even as the statistics office raised its export growth forecast for…
(Reuters) – Chinese automaker FAW Group is considering acquiring a significant stake in ride-hailing giant Didi Global Inc, Bloomberg News reported on Friday, citing sources. The state-owned FAW Group has reached out to Didi’s top executives and expressed its interest in becoming a major shareholder in the firm, the report https://bloom.bg/38n7Gtm said. U.S.-listed shares of…
TOKYO (Reuters) -Japan’s Toyota Motor Corp on Friday cut its global production plan for June for the second time this week, reducing its planned output by about 50,000 vehicles to 800,000, citing the COVID-19 lockdown in Shanghai. Japan’s largest automaker said it still expects to produce 9.7 million vehicles worldwide in the current financial year,…
OSLO (Reuters) – Norse Atlantic Airways said on Friday it had begun ticket sales for flights between London and New York as the budget carrier seeks to take market share on one of the world’s busiest long-haul routes. Round-trip fares for journeys between London’s Gatwick and the John F. Kennedy International Airport will start at…
LONDON (Reuters) – It’s all about the data. Investors are assessing how much U.S rate hikes are biting, whether euro zone inflation is near peaking and how damaging China’s COVID lockdowns are for the world’s No.2 economy. So, just as markets end a turbulent May, U.S. payrolls, European inflation and Chinese business activity data could…
A look at the day ahead in markets from Sujata Rao. So what if oil prices are up 50% this year? The long Memorial Day weekend will see some 39 million Americans hitting the road and driving at least 50 miles, up 8.3% from a year-ago, the American Automobile Association predicts. Fuel consumption during this…
By Koustav Samanta and Stephanie Kelly SINGAPORE (Reuters) -Oil prices dipped on Friday but stayed near a two-month high, with Brent crude on track for its biggest weekly jump in 1-1/2 months, supported by the prospect of an EU ban on Russian oil and the upcoming U.S. summer driving season. Brent crude futures for July…
NEW YORK (AP) — Technology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001. The S&P 500 rose 2.5% and finished 6.6% higher for the week, its best weekly gain…
By David Stanway and Roxanne Liu SHANGHAI/BEIJING (Reuters) – Shanghai took further gradual steps on Friday toward lifting its COVID-19 lockdown while Beijing was investigating cases where its strict curbs were affecting other medical treatments as China continues its uneven exit from restrictions. The financial hub and the capital have been hot spots, with a…
NEW YORK (Reuters) – Billionaire Elon Musk was sued by Twitter Inc investors claiming he manipulated the company’s stock price downward, as the chief executive of electric carmaker Tesla Inc mounts a $44 billion takeover bid for the social media platform. The investors said Musk saved himself $156 million by failing to disclose that he…
