SEOUL (Reuters) – A new U.S. law excluding electric vehicles assembled outside North America from tax credits could persuade Hyundai Motor Co to bring forward the start-date for construction of an EV and battery plant in the United States to as early as this year, Yonhap news agency reported on Monday. Hyundai Motor had said…
By Silke Koltrowitz ZURICH (Reuters) -Credit Suisse has hired Deutsche Bank’s Dixit Joshi as chief financial officer and promoted Francesca McDonagh to chief operating officer as the Swiss lender’s new boss overhauls the top ranks. Ulrich Koerner, the latest in a string of chief executives at Credit Suisse, is trying to put the bank back…
BEIJING (AP) — Brush fires have forced the evacuation of more than 1,500 people in southwest China and power rationing for factories has reportedly been extended as weeks of record heat and drought batter the region. Some shopping malls in the megacity of Chongqing have been ordered closed for most of the day to reduce…
By Yuka Obayashi TOKYO (Reuters) -Oil prices slumped on Monday, ending three days of gains, as investors were concerned aggressive U.S. interest rate hikes will weaken the global economy and dent fuel demand while a strengthening dollar also added to pressure. Brent crude futures for October settlement declined $1.20, or 1.2%, to $95.52 a barrel…
TOKYO (AP) — Asian shares were trading lower Tuesday, echoing a broad sell-off on Wall Street amid speculation about another interest rate raise from the U.S. Federal Reserve. Benchmarks in Asia slid across the region in morning trading, including Japan, China, South Korea and Australia. The latest market slide comes as investors grapple with uncertainty…
SHANGHAI (Reuters) -China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week’s easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of COVID cases. The People’s Bank of China (PBOC) is walking a tight rope…
SHANGHAI (Reuters) -China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week’s easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of COVID cases. The one-year loan prime rate (LPR) was lowered by 5 basis…
SHANGHAI (Reuters) – China cut its benchmark lending rates on Monday, adding to easing measures announced last week, as Beijing steps up efforts to spur credit demand in an economy hobbled by a property crisis and a resurgence of COVID infections. The one-year loan prime rate (LPR) was lowered by 5 basis points to 3.65%…
By Wayne Cole SYDNEY (Reuters) – Asian shares got off to a rocky start on Monday while the dollar remained in demand amid concerns most major central banks are committed to raising interest rates no matter the risks to growth. Federal Reserve Chair Jerome Powell headlines a host of policy makers at Jackson Hole later…
SHANGHAI (Reuters) -China is widely expected to lower its benchmark lending rates on Monday, a Reuters survey showed, with a vast majority of participants predicting a deeper cut to the mortgage reference to lift the ailing property sector and the overall economy. The loan prime rate (LPR), which banks normally charge their best clients, is…
