By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) -Global factory growth stalled in June as higher prices and a darker economic outlook left consumers wary of making purchases while China’s strict COVID-19 lockdowns and Russia’s invasion of Ukraine added to supply chain disruptions, surveys showed. Economic slowdown risks in Europe and the United States have…
BRATISLAVA, Slovakia (AP) — Swedish luxury vehicle maker Volvo Cars plans to build a new European plant in eastern Slovakia, the country’s economy minister said Friday. Volvo’s third European plant will be located in Kosice, Slovakia’s second-largest city, Economy Minister Richard Sulik said. Volvo will receive about 20% of the 1.2 billion euros ($1.25 billion)…
TAIPEI, Taiwan (AP) — A former employee of Chinese e-commerce giant Alibaba has accused her then-manager of trying to rape her on a business trip last year as she pushes police to review charges in a case that has cast a rare spotlight on workplace harassment in the country. The employee, a woman identified only…
LONDON (AP) — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine. Annual inflation in the eurozone’s 19 countries hit 8.6% in June, surging past the 8.1% recorded in May, according to the latest numbers published Friday by…
By Aditi Shah NEW DELHI (Reuters) – Toyota Motor Corp on Friday unveiled its first mass market hybrid car for India, a sport utility vehicle (SUV), charting a new course for the Japanese automaker in one of the world’s fastest growing car markets. The Urban Cruiser Hyryder SUV, the first car to be built by…
LONDON (Reuters) – A market indicator measuring how investors are positioned held at “extremely bearish” levels for a third consecutive week as investors yanked more cash out of equities and bonds, BoFA Securities said in a weekly note on Friday. Outflows from European equity funds extended into its twentieth week, while emerging market debt has…
Stocks on Wall Street shook off a downbeat start and ended broadly higher Friday, though the rebound was not enough to erase their losses for the week. The S&P 500 rose 1.1% after having been down 0.9% in the early going. The gain snapped a four-day losing streak for the benchmark index, which still posted…
MILAN (Reuters) – Italian supercar brand Lamborghini plans to invest at least 1.8 billion euros ($1.88 billion) to produce a hybrid lineup by 2024 and more to bring out its fully electric model by the end of the decade, Chief Executive Stephan Winkelmann told Il Sole 24 Ore. Lamborghini, part of the Volkswagen Group, said…
TOKYO (Reuters) – Apple Inc has hiked by nearly a fifth the cost of its flagship iPhone phone in Japan, which is battling a weakening yen currency and rising inflation. The Cupertino, California-based manufacturer’s entry level iPhone 13 now costs 117,800 yen ($870), Apple’s website showed, compared to 99,800 yen previously. With the dollar up…
By Stephanie Kelly and Yuka Obayashi TOKYO (Reuters) -Oil prices eased on Friday as lingering fears of a recession demand weighed on sentiment, putting the benchmarks on track for their third straight weekly losses. Brent crude futures were down 20 cents, or 0.2%, at $108.83 a barrel by 0428 GMT, giving up earlier gains of…
