By Norihiko Shirouzu BEIJING (Reuters) – Toyota Motor Corp plans to start production and sales of a small electric sedan powered by BYD Co Ltd batteries by year-end as part of an ongoing collaboration with the Chinese company, three people close to the Japanese carmaker said. The for now China-only bZ3 sedan co-developed with BYD…
By Wayne Cole SYDNEY (Reuters) – Asian share markets slid on Wednesday as surging borrowing costs fed fears of a global recession, spooking investors into the arms of the safe-haven dollar and driving the Chinese yuan to record lows. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.7% to its lowest since April 2020…
WASHINGTON (Reuters) – Now more than ever, the strength of the U.S. dollar reflects the relative strength of the U.S. economy, White House economic adviser Brian Deese told reporters on Tuesday. “In a highly uncertain global environment … what we’re seeing is reinforcing the unique position of strength that the United States economy is in,…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly said on Tuesday that the U.S. central bank is “resolute” about bringing down high inflation but also wants to do so “as gently as possible” so as not to drive the economy into a downturn. It is important, Daly said at a symposium held jointly…
WASHINGTON (AP) — Democratic Sen. Joe Manchin has abandoned, for now, his push to speed up the permitting process for energy projects, easing the Senate’s path toward passing a stopgap spending bill that would keep the federal government running when the fiscal year ends at midnight Friday. A procedural vote Tuesday advancing the funding bill…
WASHINGTON (AP) — For the first time in a decade, Americans will pay less next year on monthly premiums for Medicare’s Part B plan, which covers routine doctors’ visits and other outpatient care. The rare 3% decrease in monthly premiums is likely to be coupled with a historically high cost-of-living increase in Social Security benefits…
By Cassandra Garrison MEXICO CITY (Reuters) -Telmex union representatives on Tuesday rejected the latest contract offer by the Mexican telecommunications firm controlled by tycoon Carlos Slim’s family, a union spokesperson said. The Mexican Telephone Workers Union, known as STRM for its Spanish acronym, will meet on Wednesday to decide the next steps, the spokesperson said….
By David Shepardson and Kannaki Deka (Reuters) -Airlines canceled over 2,000 U.S. flights on Tuesday and Wednesday and some Florida airports halted operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. Airlines had scrapped 367 flights on Tuesday and 1,748 on Wednesday across the United States,…
(Reuters) – Lyft Inc is freezing all hiring in the United States through the end of the year, a company spokesperson said on Tuesday, making the ride-hailing firm the latest to pause recruitment as high inflation forces cost-cutting measures. A broad sell-off in markets due to red-hot inflation and fears of a looming recession have…
By Lawrence Delevingne (Reuters) -U.S. stocks gave up early gains to fall deeper into a bear market on Tuesday, while sterling showed scant movement a day after hitting a record low, as investors remained nervous about a potential global recession. The pound was little changed at $1.071 after sterling collapsed to $1.0327 on Monday on…
