BEIJING (Reuters) – China’s central bank will focus on supporting the slowing economy, People’s Bank of China Governor Yi Gang said on Friday, adding that domestic consumer inflation is likely to stay moderate in 2023. The central bank’s accommodative policy will help support China’s economic recovery and employment, Yi said in a video speech to…
NEW DELHI (AP) — Asia’s richest man, Gautam Adani, made his vast fortune betting on coal as an energy hungry India grew swiftly after liberalizing its economy in the 1990s. He’s now set his sights on becoming the world’s biggest renewable energy player, by 2030, adroitly aligning his investments with the government’s own priorities. As…
DETROIT (AP) — Tesla delivered its first electric semis to PepsiCo Thursday, more than three years after Elon Musk said his company would start making the trucks. The Austin, Texas, company formally delivered the trucks at a factory near Reno, Nevada. The event was livestreamed on Twitter, which Musk now owns. Musk drove one of…
By Laila Kearney (Reuters) – Oil prices edged lower in early Asian trade on Friday as the U.S. dollar pared some losses, while easing COVID-19 curbs in two Chinese cities limited losses. Brent crude futures were down 11 cents or 0.1% at $86.77 per barrel by 1:28 GMT, while U.S. West Texas Intermediate (WTI) crude…
By Stella Qiu SYDNEY (Reuters) – Asian shares were flat and Treasuries held onto gains on Friday ahead of the U.S. non-farm payrolls data, the next big test for investors looking for more signs of a shift from the Federal Reserve, while the dollar nursed heavy losses. MSCI’s broadest index of Asia-Pacific shares outside Japan…
Twitter has suspended rapper Ye after he tweeted a picture of a swastika merged with the Star of David. It is the second time this year that Ye has been suspended from the platform over antisemitic posts. Twitter CEO Elon Musk confirmed the suspension by replying to Ye’s post of an unflattering photo of Musk….
DETROIT (AP) — Members of the United Auto Workers union appeared on Friday to favor replacing many of their current leaders in an election that stemmed from a federal bribery and embezzlement scandal involving former union officials. Reform-minded candidates, many part of the UAW Members United slate, are leading or close in multiple key races…
By Howard Schneider NEW YORK (Reuters) – With central banks ratcheting up their response to a global inflation shock, debate is shifting from when they’ll win the war to whether faster rising prices are here to stay in a supply-constrained world. The risks of an emerging era of high-inflation have been sketched out by top…
By David Lawder WASHINGTON (Reuters) -The world’s poorest countries now owe $62 billion in annual debt service to official bilateral creditors, an increase of 35% over the past year, World Bank President David Malpass said on Thursday, warning that the increased burden is increasing the risk of defaults. Malpass told the Reuters NEXT conference in…
BRUSSELS (AP) — The European Union was edging closer to setting a $60-per-barrel price cap on Russian oil — a highly anticipated and complex political and economic maneuver designed to keep Russia’s supplies flowing into global markets while clamping down on President Vladimir Putin’s ability to fund his war in Ukraine. EU nations sought to…
