LONDON (AP) — Inflation in the European countries using the euro currency hit another record in August, fueled by soaring energy prices mainly driven by Russia’s war in Ukraine. Annual inflation in the eurozone’s 19 countries rose to 9.1%, up from 8.9% in July, according to the latest figures released Wednesday by the European Union…
By Dawn Chmielewski and Sheila Dang bu(Reuters) – Netflix Inc lured two of Snap Inc’s top executives to lead its advertising sales team, the company announced Tuesday, poaching two people that lent the social media company credibility with brand marketers. Netflix confirmed it hired Snap’s chief business officer, Jeremi Gorman, as its new president of…
PARIS (Reuters) -Airbus finance chief Dominik Asam will leave the company to take on the same role for German software group SAP from March 2023, the companies said on Wednesday. Asam, 53, joined Airbus in 2019 after having worked at German chip maker Infineon as finance chief since 2011. “I hope to stay in close…
TOKYO (AP) — Toyota is investing 730 billion yen ($5.6 billion) in Japan and the U.S. to boost production of batteries for electric vehicles, the Japanese automaker said Wednesday. Production is set to start between 2024 and 2026. In Japan, 400 billion yen ($3 billion) will go into the Himeji Plant of Prime Planet Energy…
BEIJING (AP) — Chinese manufacturing contracted in August amid weak export and consumer demand, a survey showed Wednesday, adding to downward pressure on the struggling economy. A monthly index improved to 49.4 from July’s 49 on a 100-point scale but still was below the 50-point mark that shows activity contracting, according to the national statistics…
(Reuters) -Toyota Motor Corp will invest up to 730 billion yen ($5.27 billion) in Japan and the United States towards supplying automotive batteries for battery electric vehicles, the Japanese automaker said on Wednesday. The firm aims to begin battery production between 2024 and 2026 with an investment intended to augment battery production capacity in both…
By Christoph Steitz and Nina Chestney FRANKFURT/LONDON (Reuters) – Russia halted gas supplies via a major pipeline to Europe on Wednesday, intensifying an economic battle between Moscow and Brussels and raising the prospects of recession and energy rationing in some of the region’s richest countries. The outage for maintenance on Nord Stream 1 means that…
TOKYO (AP) — Asian shares were mostly lower Thursday, tracking the broad slide on Wall Street, as investors braced for higher interest rates and inflation worries for some time. Benchmarks fell in Tokyo, Sydney, South Korea and Hong Kong in early trading, but edged up slightly in Shanghai. Japan’s benchmark Nikkei 225 declined 1.5% in…
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary, staff-level agreement on an emergency loan to the crisis-hit country and a formal announcement is likely on Thursday, two sources with direct knowledge of the matter told Reuters. The island nation, struggling with its worst economic crisis…
NEW YORK (AP) — Online pet retailer Chewy Inc. on Tuesday reported a sales shortfall for its fiscal second quarter, a sign that even spending on dog treats and other pet accessories has fallen victim to inflation. The company based in Dania Beach, Florida, also issued sales forecasts for its current quarter and fiscal year…
