(Reuters) -BYD Co, China’s biggest electric car maker, said third-quarter net profit likely more than quadrupled due to robust sales and a better product mix, sending its shares surging. It estimated that net profit for the July-September quarter came in between 5.5 billion yuan to 5.9 billion yuan ($765 million-$820 million), or an increase of…
WASHINGTON (Reuters) – The Biden administration has spoken with energy companies as it considers a plan to use the Strategic Petroleum Reserve to both push down oil prices for consumers and support longer-term demand for producers, two sources familiar with the matter said. The discussions, which involve combining new releases from the stockpile and setting…
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Tuesday he had no intention of stepping down, when asked by an opposition lawmaker on whether he would take responsibility for failing to achieve his 2% inflation target and hurting the economy with a weak yen. Speaking in the same parliament session, Prime Minister…
By Juliette Portala (Reuters) – The world’s largest financial institutions increased their backing of companies in the agriculture, forestry and land use sectors most responsible for deforestation in 2021, a new study showed on Tuesday. Issued by the Forests & Finance Coalition of NGOs, which looks to improve transparency, policies, systems and regulations in the…
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s consumer inflation outpaced expectations in the third quarter and remains at historically high levels amid widespread price pressures. Annual inflation rose 7.2% in the third quarter, slowing from a 7.3% gain in the second quarter and sits just below three-decade highs, Statistics New Zealand said in a…
WASHINGTON (Reuters) – The U.S. Commerce Department said on Monday it had issued an order denying export privileges to Russian carrier Ural Airlines, citing what it said were ongoing export violations. The order terminates the right of Ural to participate in transactions subject to U.S. export regulations. The Biden administration has stepped up its crackdown…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks kicked off the trading week on Monday with a rally after Britain reversed course on an economic plan, while Bank of America was the latest financial company to post solid quarterly results, which lifted optimism about the corporate earnings season. Britain named Jeremy Hunt finance minister,…
By John Revill and Oliver Hirt ZURICH (Reuters) -Credit Suisse Group AG has approached at least one Middle Eastern sovereign wealth fund for a capital injection, a source said, while some funds are looking at the scandal-hit Swiss bank’s businesses as potential investment opportunities. Abu Dhabi and Saudi Arabia were weighing up, through their sovereign…
By William Schomberg, Kylie MacLellan and Elizabeth Piper LONDON (Reuters) – Britain’s new finance minister Jeremy Hunt scrapped Prime Minister Liz Truss’s economic plan and scaled back her vast energy support scheme on Monday, making a historic policy U-turn to try to stem a dramatic loss of investor confidence. Truss’s spokesman denied that Hunt was…
They are precise, small in size, able to engage a target in relatively large numbers like a swarm of wasps and above all, they’re cheap. In Russia’s invasion of Ukraine, drones have cemented their reputation as a potent, hard-to-stop and cost-effective weapon to seek out and destroy targets while simultaneously spreading the kind of terror…
