SHANGHAI (Reuters) – Tesla Inc has cancelled three online recruitment events for China scheduled this month, the latest development after Chief Executive Elon Musk threatened job cuts at the electric car maker, saying it was “overstaffed” in some areas. However, Musk had not commented specifically on staffing in China, which made more than half of…
(Reuters) – Australia’s largest casino operator Crown Resorts Ltd said on Friday regulators in the state of Western Australia had cleared its $6.3 billion buyout by private equity giant Blackstone Inc, subject to several strict conditions. The approval follows nods from New South Wales and Victoria this week and clears another hurdle in Blackstone’s path…
BEIJING (Reuters) – China’s factory-gate inflation cooled to its slowest pace in 14 months in May, official data showed on Friday, depressed by weak demand for steel, aluminium and other key industrial commodities due to tight COVID-19 curbs. The producer price index (PPI) rose 6.4% year-on-year, the National Bureau of Statistics (NBS) said in a…
By Alun John HONG KONG (Reuters) – The dollar was at a two-week high on the euro on Friday, ahead of inflation data that should guide the Federal Reserve’s policy tightening path, and after the European Central Bank said it would start its rate-hike campaign next month. U.S. core consumer price growth is expected to…
SEOUL/ULSAN (Reuters) -Production at Hyundai Motor Co’s biggest factory in South Korea halved on Thursday due to component shortages triggered by a truckers’ strike, a union official at the automaker said on Friday. About 8,100 members, or more than 36% of the Cargo Truckers Solidarity union in the country, went on strike for a third…
By Prerana Bhat and Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will hike its key interest rate by 50 basis points in June and July, with rising chances of a similar move in September, according to a Reuters poll of economists who see no pause in rate rises until next year. Faced with…
LIMA (Reuters) – Peru’s central bank raised the country’s benchmark interest rate by 50 basis points to 5.5% on Thursday, the eleventh consecutive hike, as authorities in the copper-producing Andean nation battle stubbornly high inflation. Prices rose more slowly in May than in the two prior months, but annual inflation still reached 8.09%, its highest…
WASHINGTON (Reuters) – Friday’s consumer price data is likely to reflect the continued impact that Russia’s invasion of Ukraine is having on food and energy prices, but U.S. goods and services inflation should moderate in the months ahead, a senior U.S. official said on Thursday. “Despite these disruptions, we continue to believe that the economy…
A federal labor board has denied Amazon’s request to bar the public from a hearing on the company’s bid to overturn a historic union win at one of its Staten Island, New York, warehouses. Hearings by the National Labor Relations Board are typically held in person and open to the public. But the Seattle-based company…
NEW YORK (AP) — An explosion at a liquefied natural gas terminal in Texas has left nearby residents rattled and is taking a substantial amount of the fuel off the market at a time when global demand is soaring. Freeport LNG will be offline for at least three weeks, the company said Thursday, following a…
