TALLINN, Estonia (AP) — Estonian Prime Minister Kaja Kallas has told The Associated Press that the West shouldn’t underestimate Russia’s military capabilities in Ukraine, saying Moscow is in it for the long haul as the war enters its fifth month. Kallas said in an interview Wednesday that Europe should ensure that those committing war crimes…
By Aftab Ahmed and Swati Bhat NEW DELHI/MUMBAI (Reuters) – India’s government won’t be able to cut its budget deficit in the current fiscal year as previously projected, officials said, but will seek to cap the shortfall at last year’s level to prevent a major deterioration in public finances. Efforts to maintain some fiscal discipline…
By Stella Qiu and Alun John BEIJING/HONG KONG (Reuters) – Asian shares wobbled while commodity prices fell on Thursday, as mounting worries about the risks of a global recession amid aggressive rate hikes by the Federal Reserve kept broad investor sentiment fragile. MSCI’s broadest index of Asia-Pacific shares outside Japan eked out a 0.5% gain…
BANGKOK (AP) — Shares were higher in Asia on Friday, tracking gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses. Tokyo’s Nikkei 225 index added 0.9% to 26,411.64 and the Kospi in Seoul jumped 1.8% to 2,356.38. Hong Kong’s Hang Seng advanced 1.4% to…
By Scott Murdoch HONG KONG (Reuters) – Citigroup Inc has created a new regional leadership structure for its Asian business, according to a memo seen by Reuters. Tim Monger has been appointed as the head of the bank’s North and East Asian business ‘cluster’, while Amol Gupte will lead South Asia and ASEAN, the memo…
SHANGHAI (Reuters) – Germany’s BMW said on Thursday that production has formally begun at a new plant in China with an investment of 15 billion yuan ($2.24 billion) as the carmaker accelerates electric vehicle (EV) production. The Lydia plant, BMW’s third car assembly facility in China, located in the northeastern city of Shenyang, Liaoning province,…
By Lewis Krauskopf, Devik Jain and Anisha Sircar (Reuters) – Wall Street’s main indexes ended with slim losses on Wednesday after choppy trading as energy shares weighed and investors digested Federal Reserve Chair Jerome Powell’s comments on the central bank’s aim to bring down inflation. After opening lower, major U.S. indexes had erased losses following…
By Makiko Yamazaki, Kane Wu and Scott Murdoch TOKYO/HONG KONG (Reuters) -Bidders for Toshiba Corp are considering offering up to 7,000 yen ($51.41) per share to take the troubled Japanese conglomerate private, three people familiar with the situation told Reuters, valuing the deal at about $22 billion. Toshiba, which is exploring strategic options, said this…
SAO PAULO (Reuters) – Volkswagen AG is set to cut working hours and wages at its Sao Bernardo do Campo factory in Brazil as it grapples with a lack of auto parts and electronic components to assemble its vehicles. The metalworkers union of Sao Bernardo do Campo said on Wednesday it had agreed to a…
By Hyunjoo Jin SAN FRANCISCO (Reuters) -Tesla Inc’s new car factories in Texas and Berlin are “losing billions of dollars” as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said in an interview published on Wednesday. “Both Berlin and Austin factories are gigantic money…
