BEIJING (AP) — China is ready to “forge closer partnership” with Russia in energy, a state news agency quoted President Xi Jinping as saying in a letter Tuesday, potentially expanding ties that irk Washington by helping the Kremlin resist sanctions over its war on Ukraine. The announcement gave no details. It said Xi made the…
(Reuters) – Bombardier Inc said on Tuesday that NetJets, operator of the world’s largest fleet of private jets, will become the fleet launch customer for its Global 8000 aircraft with orders for four jets. (Reporting by Priyamvada C in Bengaluru; Editing by Shounak Dasgupta)
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks will end next year up around 6% after a rough start to 2023 as higher interest rates take their toll on the U.S. economy, according to a Reuters poll of strategists on Tuesday. Among the biggest risks to the market are that the U.S. Federal Reserve…
BERLIN (AP) — It is time for China to move away from massive lockdowns and toward a more targeted approach to COVID-19, the head of the International Monetary Fund said days after widespread protests broke out, a change that would ease the impact to a world economy already struggling with high inflation, an energy crisis…
By Ahmad Ghaddar LONDON (Reuters) -Oil prices jumped by 3% on Tuesday on hopes for a relaxation of China’s strict COVID-19 controls after rare protests in Chinese cities over the weekend. Brent crude futures gained $2.50, or 3%, to $85.69 a barrel at 1119 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.98, or…
(Reuters) – European shares gave up gains on Tuesday as technology and consumer stocks slipped, offsetting a rally in commodity-linked shares spurred by hopes that Beijing could ease COVID-19 curbs following recent protests. The pan-European STOXX 600 index was flat after having risen up to 0.5% following a strong rally in Asia where investors hoped…
MILAN (Reuters) – Shares in Credit Suisse tumbled to a fresh lifetime low below 3 Swiss francs on Tuesday as investors dumped rights to subscribe to new shares in the loss-making lender. By 0937 GMT, Credit Suisse shares fell 3.3% to 2.912 Swiss francs as the subscription rights tumbled 22% to 0.112 on the second…
By Heekyong Yang and Joyce Lee SEOUL (Reuters) – South Korea’s Hyundai Motor Group has signed an agreement to source electric vehicle (EV) batteries in North America from battery maker SK On, the companies said on Tuesday. The partnership follows the signing in August of the U.S. Inflation Reduction Act, which will require automakers to…
SEOUL (Reuters) -South Korea’s Hyundai Motor Group and battery maker SK On have signed a pact on the supply of electric vehicle (EV) batteries in North America, the companies said on Tuesday. In a statement, SK On said the memorandum of understanding (MOU) lets the two companies cooperate in providing its batteries to the auto…
ZURICH (Reuters) – Nestle has tweaked its 2022 sales outlook higher, the world’s largest packaged food company said ahead of an investor seminar on Tuesday. “We now expect organic sales growth between 8% and 8.5%. The underlying trading operating profit margin is expected around 17.0%. Underlying earnings per share in constant currency and capital efficiency…
