(Reuters) -Toyota Motor Corp will invest up to 730 billion yen ($5.27 billion) in Japan and the United States towards supplying automotive batteries for battery electric vehicles, the Japanese automaker said on Wednesday. The firm aims to begin battery production between 2024 and 2026 with an investment intended to augment battery production capacity in both…
By Christoph Steitz and Nina Chestney FRANKFURT/LONDON (Reuters) – Russia halted gas supplies via a major pipeline to Europe on Wednesday, intensifying an economic battle between Moscow and Brussels and raising the prospects of recession and energy rationing in some of the region’s richest countries. The outage for maintenance on Nord Stream 1 means that…
TOKYO (AP) — Asian shares were mostly lower Thursday, tracking the broad slide on Wall Street, as investors braced for higher interest rates and inflation worries for some time. Benchmarks fell in Tokyo, Sydney, South Korea and Hong Kong in early trading, but edged up slightly in Shanghai. Japan’s benchmark Nikkei 225 declined 1.5% in…
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary, staff-level agreement on an emergency loan to the crisis-hit country and a formal announcement is likely on Thursday, two sources with direct knowledge of the matter told Reuters. The island nation, struggling with its worst economic crisis…
NEW YORK (AP) — Online pet retailer Chewy Inc. on Tuesday reported a sales shortfall for its fiscal second quarter, a sign that even spending on dog treats and other pet accessories has fallen victim to inflation. The company based in Dania Beach, Florida, also issued sales forecasts for its current quarter and fiscal year…
OMAHA, Neb. (AP) — Warren Buffett’s company has trimmed its stake in Chinese electric car and battery maker BYD for the first time since it bought the shares in 2008, an investment that has soared in value. Berkshire Hathaway said in a regulatory filing Tuesday with the Hong Kong stock exchange that it had sold…
SACRAMENTO, Calif. (AP) — Discounted prices, car-share programs and at least one million more public charging stations are among the ways California will try to make electric cars easier to buy and drive as it phases out the sale of gas-powered cars. But the state won’t force automakers to participate in any equity programs designed…
BEIJING (Reuters) -China’s factory activity extended declines in August as new COVID infections, the worst heatwaves in decades and an embattled property sector weighed on production, suggesting the economy will struggle to sustain momentum. The official manufacturing purchasing managers’ index (PMI) rose to 49.4 in August from 49.0 in July, the National Bureau of Statistics…
BEIJING (Reuters) – China’s factory activity extended declines in August as new COVID infections, the worst heatwaves in decades and an embattled property sector weighed on production, a survey showed on Wednesday. The official manufacturing purchasing managers’ Index (PMI) rose to 49.4 in August from 49.0 in July, the National Bureau of Statistics (NBS) said….
By Kevin Buckland TOKYO (Reuters) – Asian markets extended the global stocks selloff on Wednesday, as investor worries about aggressive monetary tightening were inflamed further by strong U.S. jobs data. The overnight JOLTS report on job openings – closely watched by the Federal Reserve – pointed to extremely tight labour conditions, defying the Fed’s tightening…
