WELLINGTON, New Zealand (AP) — Farmers across New Zealand took to the streets on their tractors Thursday to protest government plans to tax cow burps and other greenhouse gas emissions, although the rallies were smaller than many had expected. Lobby group Groundswell New Zealand helped organize more than 50 protests in towns and cities across…
By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s imports grew more than 40% for a fifth straight month in September to hit the largest value on record as a slump in the yen aggravated already high fuel import costs, stoking fears of cost-push inflation. The surge in imports overwhelmed growth in exports, resulting in a 2 trillion…
By Vivek Mishra BENGALURU (Reuters) – India’s economy will grow well below its potential over the next two years, with inflation staying above the mid-point of the Reserve Bank of India’s tolerance band despite recent interest rate rises, according to a Reuters poll of economists. While growth was expected to be faster than many other…
(Reuters) -U.S. cigarette maker Altria Group Inc on Wednesday said industry peer Philip Morris International Inc (PMI) has agreed to pay it $2.7 billion for the exclusive right to sell IQOS heated tobacco products in the United States. Altria in a statement said it has already received $1.0 billion from PMI and will receive the…
(Reuters) -Altria Group Inc said on Wednesday its unit has reached a $2.7 billion deal with Marlboro maker Philip Morris International Inc’s unit to sell the U.S. commercialization rights for its IQOS heated tobacco products. Altria has received a $1 billion payment from Philip Morris and will receive an additional payment of $1.7 billion by…
WASHINGTON (Reuters) – If the Federal Reserve can bring inflation under control with unemployment remaining under 5% that would be “pretty unusual and good,” Chicago Fed President Charles Evans said on Wednesday. In remarks at the University of Virginia Evans said the policy projections outlined after the September Fed meeting, with the target interest rate…
By David Shepardson GREENVILLE, South Carolina (Reuters) – Setting a date to phase out gas-powered vehicles could remove “cheap cars” from the market, putting ownership out of reach for many, and be politically dangerous, the board chair of German automaker BMW Oliver Zipse said on Wednesday. Speaking ahead of the announcement of a $1.7 billion…
By Hyunjoo Jin and Akash Sriram (Reuters) -Tesla Inc on Wednesday posted record third-quarter revenue but still missed Wall Street estimates as the electric carmaker led by billionaire Elon Musk delivered fewer vehicles than expected, while spending on new factories and new battery production squeezed margins. The company did not set out year-end delivery targets…
NEW YORK (Reuters) – BNP Paribas expects the Federal Reserve to push the fed funds rate to a peak of 5.25% in the first quarter next year, higher than market expectations and a level that could tip the world’s largest economy into recession, the bank said in a research note on Wednesday. The French bank…
DETROIT (AP) — Tesla reported Wednesday that its third-quarter profit more than doubled from a year ago, fueled by higher vehicle sales. The Austin, Texas, electric vehicle and solar panel maker posted net income of $3.29 billion from July through September. CEO Elon Musk said on the company’s quarterly conference call that the Tesla is…
