FRANKFURT (Reuters) – Euro zone inflation has not peaked and the risk is that it will turn out even higher than currently expected, European Central Bank President Christine Lagarde said on Monday. “We do not see the components or the direction that would lead me to believe that we’ve reached peak inflation and that it’s…
By Andreas Rinke and Sarah Marsh BERLIN (Reuters) – Building a lithium-ion battery factory in Germany, Europe’s top car producer, had seemed like a no-brainer for Northvolt. But a new U.S. law offering hefty subsidies to local manufacturers of green technology has given the company pause for thought. Chief Executive Peter Carlsson said that under…
BUCHAREST, Romania (AP) — Russian energy giant Gazprom announced Monday that it will not further reduce natural gas to Moldova as it had threatened to do after claiming that bills went unpaid and that flows crossing through Ukraine were not making it to Moldova. Gazprom tweeted that Moldovagaz has “eliminated the violation of payment” for…
By Scott Murdoch and Lawrence White SYDNEY/LONDON (Reuters) – Stocks and commodities prices suffered a broad sell-off on Monday as rare protests in major Chinese cities against the country’s strict zero-COVID curbs hit growth expectations in the world’s second-largest economy. Clashes between police and protesters across several major cities over the weekend halted a tentative…
SANTIAGO (Reuters) -Workers at Chile’s Escondida Mine accepted a new offer from BHP and will not move forward with a strike that was planned for Nov. 28 and 30, their union said Monday. “The strike was stopped because last night between 9:00 p.m. and 3:00 a.m., members voted to approve the proposal that Escondida presented…
By Nick Carey and Giulio Piovaccari LONDON/MILAN (Reuters) -The bankruptcy of Stellantis’ Jeep joint venture in China could spell trouble for other global automakers whose output has plunged over the last five years in the world’s largest car market, as domestic players rapidly overtake. The first joint venture failure by a foreign brand in the…
By Rae Wee and Harry Robertson SINGAPORE/LONDON (Reuters) – The dollar weakened on Monday as investors weighed up the recent drop in U.S. government bond yields, while anti-government protests in China sent the yuan to a two-week low. Protests have flared across China and spread to several cities in the wake of an apartment fire…
BEIJING (Reuters) – China will extend tariff exemptions on some imported products from the United States until May 31 next year, the finance ministry said on Monday. (Reporting by Beijing newsroom; Editing by Toby Chopra)
BEIJING (Reuters) – China’s factory activity is expected to have contracted further this month, piling pressure on the economy as COVID restrictions hit production and exports fell despite a flurry of stimulus policies, a Reuters poll showed on Monday. The official manufacturing Purchasing Manager’s Index (PMI) was forecast at 49.0 in November from 49.2 in…
HONG KONG (AP) — With police out in force, there was no word of additional protests against strict government anti-pandemic measures Tuesday in Beijing, as temperatures fell well below freezing. Shanghai, Nanjing and other cities where online calls to gather had been issued were also reportedly quiet. Rallies against China’s unusually strict anti-virus measures spread…
