BANGKOK (Reuters) – Chinese electric vehicle maker BYD on Thursday announced it would set up a facility in Thailand to start producing 150,000 passenger cars a year from 2024. BYD announced in a joint statement with Thai industrial developer WHA Group that a purchase agreement had been signed for 96 hectares of land for the…
By Kevin Buckland TOKYO (Reuters) – The dollar resumed its rise in Asia on Thursday after falling back from a two-decade high overnight, as investors pondered the path of global monetary policy ahead of a European Central Bank rate decision and comments from Federal Reserve Chair Jerome Powell later in the day. The U.S. dollar…
By Eva Mathews (Reuters) -GameStop Corp on Wednesday reported a smaller-than-expected quarterly loss and a partnership with FTX US to increase its presence in the cryptocurrency space, sending the video game retailer’s shares up 10% in extended trading. The company will start selling FTX gift cards at some of its stores as part of the…
By Daniel Leussink TOKYO (Reuters) – Japan’s economy grew more than initially reported in the second quarter, as the lifting of local COVID-19 restrictions boosted consumer and business spending. That meant Japan saw its economy grow for a third quarter in April-June, even as worries about a slate of issues such as a global slowdown…
By Stephen Nellis (Reuters) -Apple Inc on Wednesday avoided price hikes of its best-selling iPhones during its biggest product launch of the year, focusing on safety upgrades rather than flashy new technical specs with the exception of a new adventure-focused watch. The iPhone maker leaned into safety technologies like the ability to detect a car…
(Reuters) -American Eagle Outfitters Inc on Wednesday missed second-quarter profit estimates and said it would pause quarterly dividend as it fortifies its finances against a hit from inflation, sending its shares down over 14% after market. The apparel maker would also freeze hiring, cut non-critical expenses and lower capital spending, Chief Executive Officer Jay Schottenstein…
(Reuters) -U.S. firms reported economic activity was unchanged in July through late August, with further softening expected over the next year even as they saw some tentative greenshoots in the ongoing battle against labor shortages and price pressures, a Federal Reserve report showed on Wednesday. The U.S. central bank released its latest summary of feedback…
(Reuters) – American Eagle Outfitters Inc reported a loss for the second quarter on Wednesday and said it would pause quarterly dividend as it strives to tide through lower demand due to inflation, sending its shares down 14% after market. With the United States on the edge of a recession, and prices of food and…
By Stephen Nellis (Reuters) -Apple Inc introduced new iPhone 14 models capable of using satellites to send emergency messages and an adventure-focused Ultra Watch for sports like diving and triathlons. The outdoor-focused products will test whether Apple’s relatively affluent customer base will keep spending in the face of rising inflation. Prices of the high-end iPhone…
By Carolina Mandl (Reuters) – U.S. stock indexes climbed on Wednesday following a recent selloff as bond yields eased, while investors await more clarity in the Federal Reserve’s monetary policy tightening plans. The technology-heavy Nasdaq led gains among the main indexes, looking to snap a seven-session losing streak. Shares in Amazon.com Inc were up 2.0%….
