(This Jan. 20 story has been refiled to add dropped words in the eighth paragraph) By Siyi Liu and Dominique Patton FOSHAN, China (Reuters) – China’s copper buyers face higher costs for the metal this year, buyers and analysts said, after market disruptions from top importer Maike Group’s financial woes and production glitches at domestic…
(Restores dropped letter in lede) By Dietrich Knauth NEW YORK(Reuters) -Bankrupt crypto exchange FTX sued crypto lender Voyager Digital on Monday, seeking to claw back $445.8 million in loan repayments that FTX made before collapsing into bankruptcy in November 2022. FTX and Voyager both filed for bankruptcy amid a 2022 collapse in cryptocurrency markets, but…
By Stella Qiu SYDNEY (Reuters) – Australian retail sales recorded the biggest drop in more than two years in December, as rising borrowing costs and sky-high inflation finally sank spending, an economic shock that may lessen the need for much more policy tightening. Retail sales fell 3.9% in December from November, after 11 months of…
By Kantaro Komiya TOKYO (Reuters) – Japanese factories cut output slightly in December, capping the worst quarter for manufacturers since the onset of the COVID-19 pandemic, hit by stalling global demand and rising costs. Although retail sales, a barometer of service-sector activity and consumer spending, rose more than expected, the faltering factory activity is ill-timed…
By David Shepardson and Aishwarya Nair (Reuters) -Ford Motor Co on Monday cut prices of its electric crossover SUV Mustang Mach-E by as much as $5,900 per vehicle, weeks after rival Tesla Inc slashed prices globally on its electric vehicles by as much as 20%. Shares of Ford closed down 2.9% in above average trading…
By Karen Freifeld, Alexandra Alper and Stephen Nellis (Reuters) -The Biden administration has stopped approving licenses for U.S. companies to export most items to China’s Huawei, according to three people familiar with the matter. Huawei has faced U.S. export restrictions around items for 5G and other technologies for several years, but officials in the U.S….
By Xinghui Kok and Chen Lin SINGAPORE, (Reuters) – Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family’s wealth. He’s hoping that studying at a university in the Asian financial hub will lead to permanent residency and while the 26-year-old hits the books, his wife is out…
By David Shepardson WASHINGTON (Reuters) -TikTok Chief Executive Shou Zi Chew will appear before the U.S. Energy and Commerce Committee in March, as lawmakers scrutinize the Chinese-owned video-sharing app. Chew will testify before the committee on March 23, which will be his first appearance before a congressional committee, said Representative Cathy McMorris Rodgers, the Republican…
By Stephen Culp (Reuters) – A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Wall Street’s downbeat start to an action-packed week has set a bumpy course for Asian markets on Tuesday. U.S. stocks appeared to take a breather near the end of a month of solid gains,…
(Reuters) -United Airlines Holdings Inc technicians ratified a two-year contract with the carrier that includes 16% to 23% wage increases, their union said on Monday. International Brotherhood of Teamsters, representing around 8,200 United Airlines technicians said the two-year contract would provide for improved job security by adding five heavy maintenance lines in-house. The agreement, which…
