By Balazs Koranyi and Frank Siebelt FRANKFURT (Reuters) – The euro zone inflation outlook has failed to improve since a July rate hike, European Central Bank board member Isabel Schnabel said, suggesting she favours another large interest rate increase next month even as recession risks harden. The central bank for the 19-country bloc surprised investors…
SHANGHAI (Reuters) -China’s Geely Automobile Holdings Ltd said on Thursday its first-half net profit fell 35%, as the country’s strict COVID-19 restrictions dented sales and disrupted production. Hangzhou-based Geely, China’s highest-profile automaker globally due to the group’s investments in Volvo Cars and Mercedes-Benz, posted January-June profit of 1.55 billion yuan ($228.3 million), versus 2.38 billion…
BEIJING (AP) — The U.S. government plans talks with Taiwan on a wide-ranging trade treaty in a sign of support for the self-ruled island democracy claimed by China’s ruling Communist Party as part of its territory. The announcement Thursday comes after Beijing held military drills that included firing missiles into the sea to intimidate Taiwan…
By Tetsushi Kajimoto TOKYO (Reuters) – More large Japanese companies are now raising wages to attract workers and cope with chronic staff shortages, a monthly Reuters poll showed on Thursday, a tentative sign Japan Inc may be slowly addressing pay that has been flat for decades. Still, the Corporate Survey found that higher wages aren’t…
By Scott Murdoch HONG KONG (Reuters) – Asian shares tracked lower on Thursday, in step with Wall Street’s losses, as even the prospect of a less aggressive Federal Reserve has still set the U.S. central bank on a path for interest rates to stay higher for longer. The dollar rose overnight after the Fed’s July…
TAIPEI (Reuters) – The United States and Taiwan on Wednesday agreed to start trade talks under a new initiative, saying they wanted to reach agreements with “economically meaningful outcomes”, in another sign of stepped up U.S. support for the island. Washington and Taipei unveiled the U.S.-Taiwan Initiative on 21st-Century Trade in June, just days after…
By Tom Westbrook SINGAPORE (Reuters) – The dollar was on the front foot on Thursday after minutes from the Federal Reserve’s July meeting pointed to U.S. interest rates staying higher for longer to bring down inflation. The greenback gained most against the Antipodeans, especially the Aussie, which was dragged down as weaker-than-expected wage growth weighed…
By Katanga Johnson and Michelle Price WASHINGTON (Reuters) – While the U.S. securities regulator is likely to examine Elon Musk’s tweet in which he joked about buying New York-listed soccer club Manchester United, legal experts say that on its face the crack is unlikely to land him in hot water. Musk, the world’s richest person,…
NEW YORK (AP) — Amazon appears to be getting the TikTok bug, joining other companies seeking to hold consumers’ attention by introducing replicas of the popular social platform. The e-commerce giant has been testing a feed on its app that enables shoppers to scroll through TikTok-like photos and videos of products posted by other users….
PONTIAC, Mich. (AP) — Thundering gas-powered muscle cars, for decades a fixture of American culture, will be closing in on their final Saturday-night cruises in the coming years as automakers begin replacing them with super-fast cars that run on batteries. Stellantis’ Dodge brand, long the performance flag-bearer of the company formerly known as Fiat Chrysler,…
