LONDON (Reuters) -Russian President Vladimir Putin ordered his government on Thursday to come up with new measures to support the domestic car industry, which has seen sales crater since Moscow launched its invasion of Ukraine. Amid a crunch on demand from Russian buyers and severe logistics problems as a result of Western sanctions slapped on…
By Foo Yun Chee BRUSSELS (Reuters) -Meta, Alphabet unit Google, Twitter and Microsoft agreed on Thursday to take a tougher line against disinformation under an updated EU code of practice that could hit them with hefty fines if they fail to do so. More than 30 signatories including advertising bodies have committed to the updated…
By Koh Gui Qing and Danilo Masoni NEW YORK (Reuters) -World stocks resumed their slide on Thursday and government bonds hovered at multi-year highs after a series of rate rises from global central banks rekindled fears that aggressive policy tightening could drag economies into recession. Following a relief rally on Wednesday when investors cheered the…
NEW YORK (AP) — Cryptocurrency company Circle said Thursday that it will start issuing its first euro-denominated cryptocurrency, a stablecoin known as Euro Coin, later this month. It would be the first stablecoin in euros — the world’s second-most-important reserve currency after the U.S. dollar — backed by a large player in the industry and…
By Giulio Piovaccari and Nick Carey MARANELLO, Italy (Reuters) -Electric and hybrid models should make up 80% of Ferrari’s sales by 2030, the luxury carmaker told investors on Thursday, vowing to produce “even more unique” cars as it leans on partners to make the costly shift to zero-emission driving. “Everything we do will always focus…
GENEVA (AP) — Talks went down to the wire Thursday as the World Trade Organization was set to wrap up its first ministerial-level meeting in more than four years, with no firm deal so far on issues like food security, the fight against overfishing in the seas, and efforts to broaden access to COVID-19 vaccines….
Market participants breathlessly awaited the latest Fed Decision. A white-hot CPI report last Friday had markets abuzz. Would Powell & Company move ahead with the predicted 50 basis point rate hike or would it ramp up its effort to stamp down inflation with a sharper increase? The Fed floated a trial balloon on Monday when…
By Shreyashi Sanyal and Sruthi Shankar (Reuters) – U.S. stock indexes tumbled on Thursday, with growth shares bearing the brunt of the selloff, after the Federal Reserve’s largest rate increase since 1994 to combat decades-high inflation fanned worries of a recession. All of the 11 major S&P sectors fell in morning trade. Energy and consumer…
MILAN (AP) — Italian luxury sportscar maker Ferrari on Thursday outlined an electrification strategy that calls for 40% full-electric vehicles and 40% hybrid models by 2030. CEO Benedetto Vigna confirmed that the first electric car will be presented in 2025, with the first deliveries the following year. Now, just four Ferrari models, or 20% of…
(Reuters) – U.S. stock indexes opened sharply lower on Thursday, with growth shares taking the biggest hit, after the Federal Reserve’s biggest interest rate hike since 1994 fanned recession worries. The Dow Jones Industrial Average fell 362.79 points, or 1.18%, at the open to 30,305.74. The S&P 500 opened lower by 61.81 points, or 1.63%,…
