(Reuters) – Tesla Inc has recalled nearly 30,000 Model X cars over an issue that may cause the front passenger air bag to deploy incorrectly. The issue would be remedied over an over-the-air update, the company said. (Reporting by Akash Sriram in Bengaluru; Editing by Anil D’Silva)
FRANKFURT, Germany (AP) — European Central Bank President Christine Lagarde warned Friday that the bank may have to raise interest rates beyond merely withdrawing stimulus and into territory that could restrain growth as the bank fights to control record inflation in the 19 countries that use the euro. “We expect to raise rates further, and…
(Reuters) – Hong Kong’s Cathay Pacific Airways Ltd said on Friday its fiscal 2022 second-half results are expected to improve over the first half, helped by an uptick in travel and air cargo demand but maintained it would record an annual loss. (Reporting by Jaskiran Singh in Bengaluru; Editing by Sriraj Kalluvila)
BEIJING (Reuters) – China’s property sector will remain weak but will see a gradual recovery in 2023, economists said in a Reuters poll, expecting further stimulus measures and looser COVID-19 curbs to support the crisis-stricken sector next year. New home prices are expected to fall in the first half of next year before rising for…
BERLIN (AP) — Germany’s biggest industrial union agreed with employers Friday on a pay deal that will see millions of workers get raises totaling 8.5% over two years as well as one-time payments meant to cushion the effect of sky-high inflation. The IG Metall union and employers reached a compromise in the southwestern state of…
NEW YORK (AP) — President Joe Biden’s plan to provide up to $20,000 in federal student loan forgiveness has been blocked by two federal courts, leaving millions of borrowers wondering what happens next. The Justice Department on Friday asked the Supreme Court to reverse one of the lower court decisions, warning that many Americans will…
By Sonali Paul and Muyu Xu MELBOURNE (Reuters) -Oil pared early gains and was on track for a steep weekly decline on concerns about weakening demand in China and further interest rate rises by the U.S. Federal Reserve. Brent crude futures had edged lower by 13 cents or 0.1% to $89.65 a barrel by 0737…
HONG KONG (Reuters) – Moody’s Corp is shutting its China consulting business and is laying off people associated with the unit in multiple locations across the country, two people with knowledge of the matter said on Friday. The U.S.-headquartered credit rating firm started shutting the business, Moody’s Analytics, in China this week, said the people…
A late-afternoon rally on Wall Street helped stocks close higher Friday, though the major indexes still wound up finishing lower for the week after several days of bumpy trading. The S&P 500 rose 0.5% after wavering between small gains and losses for much of the day. The Dow Jones Industrial Average rose 0.6% and the…
A look at the day ahead in markets from Anshuman Daga While Fed speakers talk tough on interest rates and keep market expectations in check, Britain’s bleak outlook will also weigh on UK assets. St. Louis Fed President James Bullard said that even under a “generous” analysis of monetary policy, the Fed needs to keep…
