SHANGHAI (Reuters) -Nio plans to build its first battery plant to produce big cylindrical cells similar to those used by Tesla, two people familiar with the matter said, as the Chinese EV maker seeks to cut its reliance on CATL for supplies. The plant underscores Nio’s ambition to ramp up its presence in the electric…
By David Shepardson and Valerie Insinna WASHINGTON (Reuters) -Boeing Co has temporarily halted deliveries of its 787 Dreamliner jets as the U.S. planemaker conducts additional analysis on a fuselage component, the Federal Aviation Administration (FAA) said on Thursday. Deliveries will not resume until the FAA is satisfied that the issue has been addressed, the agency said….
By Stella Qiu SYDNEY (Reuters) – Asian markets breathed a sigh of relief on Friday as the incoming head of Japan’s central bank soothed fears of an early end to super-easy monetary policy, nudging bond yields lower globally. Kazuo Ueda, who will take over as governor of the Bank of Japan (BOJ) in April, began…
(Reuters) – Incoming Bank of Japan (BOJ) Governor Kazuo Ueda said on Friday it was appropriate to maintain ultra-loose monetary policy as inflation has yet to sustainably and steadily meet the central bank’s 2% target. COMMENTARY: SEAN CALLOW, SENIOR CURRENCY STRATEGIST AT WESTPAC, SYDNEY “The skittishness of USD/JPY seems indicative of how scarred investors remain…
By David Lawder BENGALURU (Reuters) – Global finance leaders will tally the economic damage from Russia’s war in Ukraine on Friday as they meet on the conflict’s first anniversary with some voicing concerns that more sanctions on Moscow would disrupt a modest improvement in growth. The meeting of G20 finance ministers and central bank governors…
By Takaya Yamaguchi and Leika Kihara TOKYO (Reuters) – Japan’s core consumer inflation hit a fresh 41-year high in January as companies passed on higher costs to households, data showed on Friday, keeping the central bank under pressure to phase out its massive stimulus programme. The data underscores the dilemma policymakers face as soaring fuel…
By Mike Scarcella (Reuters) – U.S. Justice Department lawyers say that Alphabet Inc’s Google destroyed internal corporate communications and have asked a federal judge to sanction the company as part of the government’s antitrust case over its search business. The DOJ asserted in a court filing unsealed in a Washington, D.C., federal court on Thursday…
By Brendan Pierson (Reuters) – Swiss drugmaker Novartis AG has agreed to pay $30 million to settle claims by health plans and consumers that it schemed to delay the U.S. launch of generic competition for its Exforge hypertension drug. In a motion filed in Manhattan federal court Wednesday, lawyers for the plaintiffs said the proposed…
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -Top U.S. banking regulators issued a fresh warning to banks to be on guard for any liquidity risks from cryptocurrency-related clients, cautioning some of their deposits could prove volatile. In a joint statement issued Thursday, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the…
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -Sam Bankman-Fried was hit with new criminal charges on Thursday, in an expanded indictment accusing the founder of the now-bankrupt FTX cryptocurrency exchange of conspiring to make more than 300 illegal political donations. Bankman-Fried now faces 12 criminal charges, including four for fraud and eight for…
