By Herbert Lash and Samuel Indyk NEW YORK/LONDON (Reuters) – The dollar fell against most major currencies on Tuesday after better-than-forecast growth data from China, while strong pay figures from Britain supported the pound. China’s gross domestic product (GDP) grew 4.5% year on year in the first three months of the year, data showed, beating…
By Paul Lienert (Reuters) – Chinese electric vehicle maker Xpeng Inc is the latest manufacturer hoping to save money and speed development and production by shifting to a digital vehicle architecture – an approach that bears a striking resemblance to Tesla Inc’s. Unveiled this week ahead of the Shanghai Auto Show, Xpeng’s Smart Electric Platform…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada’s annual inflation rate eased in March to 4.3%, its slowest pace in 19 months but still more than double the Bank of Canada’s 2% target, data showed on Tuesday. The headline inflation figure fell from 5.2% in February, matching expectations, as a decline in energy prices…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Beleaguered bitcoin miners are finally feeling the spring sunshine after a cold, hard crypto winter. The power-hungry companies that pump new bitcoin into circulation have been thrown a lifeline by the cryptocurrency’s rally to above $30,000 this year, which has conspired with falling electricity prices to…
WASHINGTON (Reuters) – There was “some evidence” that China wants the dollar to weaken as the international reserve currency, said a White House nominee for a top economist position on Tuesday, and he urged Congress to raise the U.S. debt ceiling to protect the dollar’s value. Jared Bernstein, a member of the White House Council…
By Allison Lampert (Reuters) -WestJet Airlines pilots on Tuesday voted for possible strike action as early as May 16, underscoring broader efforts by North American pilots to make gains on salary and working conditions as traffic rises. Pilots at Onex Corp’s WestJet Group, Canada’s second-largest carrier, could strike or be locked out if notice is…
By Michael S. Derby (Reuters) -The U.S. central bank most likely has one more interest rate rise ahead of it as it continues to work to lower high inflation, Atlanta Federal Reserve President Raphael Bostic said on Tuesday. “One more move should be enough for us to then take a step back and see how…
By Michael S. Derby (Reuters) -The U.S. central bank most likely has one more interest rate rise ahead of it as it continues to work to lower high inflation, Atlanta Federal Reserve President Raphael Bostic said on Tuesday. “One more move should be enough for us to then take a step back and see how…
By Greg Bensinger (Reuters) -Opendoor Technologies Inc on Tuesday said it was cutting roughly 560 jobs, or 22% of the workforce at the online U.S. real estate firm, citing a declining housing market. The announcement followed a previous round of layoffs in November when the San Francisco company cut 550 jobs, or about 18% of…
By Michael Erman and Leroy Leo (Reuters) -The U.S. Food and Drug Administration on Tuesday authorized a second dose of Omicron-targeting COVID-19 vaccines for older adults as well as those with a weak immune system. The agency also said the updated shots from Pfizer-BioNTech and Moderna would become the new primary COVID vaccine, and withdrew…
