By Florence Tan (Reuters) – Oil prices tumbling more than 1% on Tuesday, extending the previous day’s steep declines as coronavirus lockdowns in top oil importer China, a strong dollar and growing recession risks fed worries about the outlook for global demand. Brent crude fell $1.31, or 1.2%, to $104.63 at 0216 GMT after slipping…
By Kantaro Komiya TOKYO (Reuters) -Japan’s household spending fell in March for the first time in three months, though the 2.3% drop was smaller than expected, as consumers remained cautious despite some easing of COVID-19 curbs. While lower coronavirus risks have boosted consumer activity since April, rising living costs may cramp Japan’s consumption-led recovery for…
SHANGHAI (Reuters) -Tesla Inc halted production at its Shanghai plant on Monday due to issues with supplies, two people familiar with the matter said. The suspension comes just three weeks after the U.S. automaker partially resumed production at the Shanghai plant on April 19 following a 22-day closure caused by the city’s COVID-19 lockdown, reflecting…
(Reuters) -Renault said it would sell just over a third of its Korea unit to China’s Geely Automobile Holdings, freeing up capital for the French automaker to invest in its lagging home market and electric business. Renault is in the middle of multi-year turnaround plan that is aimed at boosting profit margins and splitting its…
By Laura Sanicola (Reuters) – Oil prices edged lower in early Asian trade on Tuesday, adding to a 6% slump in the previous session, as coronavirus lockdowns in top oil importer China and potential economic ructions in Europe fed worries about the demand outlook. Brent crude fell 36 cents, or 0.3%, to $105.58 at 0009…
By Foo Yun Chee BRUSSELS (Reuters) – EU industry chief Thierry Breton met Tesla Inc boss Elon Musk in Texas on Monday and the two signalled agreement on EU digital media regulation ahead of Musk’s purchase of Twitter Inc . The meeting comes weeks after the world’s richest man clinched a deal to buy the…
(Reuters) -British supermarket group Morrisons has won a battle against the owners of rival Asda to buy collapsed convenience store chain McColl’s. In a deal structured through a so called pre-pack administration, Morrisons, which has a wholesale supply deal with McColl’s, will take on all its 1,160 stores, including 270 Morrisons Daily format stores. Morrisons…
By Sinéad Carew NEW YORK (Reuters) – Stock indexes around the world fell sharply, oil prices sank about 6% and the dollar finished just off a 20-year high as investors fled risk and sought safe havens due to worries about inflation and slower global economic growth. Oil prices tumbled as coronavirus lockdowns in China, the…
By Paresh Dave OAKLAND, Calif. (Reuters) -Dating apps maker Match Group Inc sued Alphabet Inc’s Google on Monday, calling the action a “last resort” to prevent Tinder and its other apps from being booted off the Play store for refusing to share up to 30% of their sales. Match’s lawsuit follows ongoing cases brought by…
By Lisa Richwine LOS ANGELES (Reuters) – Walt Disney Co’s streaming TV business will face scrutiny on Wednesday from investors who are re-evaluating the media industry’s aggressive shift from cable television to online video subscriptions. Netflix Inc shook Wall Street last month when the streaming video pioneer disclosed it lost subscribers in the first three…
