SHANGHAI/BERLIN (Reuters) -German automakers have turned up in full force at Shanghai’s Auto Show as they fight to stay on top of consumer trends in the country that will define whether they maintain their market dominance in the electric age both at home and abroad. Their heavy presence – with the entire board of Volkswagen…
(Reuters) -Richard Branson’s Virgin Orbit Holdings Inc and its subsidiaries in the United States filed a Chapter 11 bankruptcy plan with the U.S. Bankruptcy Court for the District of Delaware, the company said in a statement on Wednesday. Earlier this month, Virgin Orbit filed for Chapter 11 bankruptcy protection after the satellite launch company struggled…
By Li Gu and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – China’s ambitious plan to get its companies listed in London and Zurich stock markets needs fine-tuning, analysts say, as the sparse liquidity in traded Chinese companies there has created market arbitrage opportunities for investors. The Shanghai-London Stock Connect has seen only five Chinese companies issue Global…
MUMBAI (Reuters) – The U.S. dollar-denominated bonds issued by entities of India’s Adani Group were trading marginally higher on Thursday, after a group company said it will consider a buyback of securities. On Wednesday, Adani Ports and Special Economic Zone, part of the beleaguered Adani Group, said it will consider its first and a partial…
By Laurie Chen BEIJING (Reuters) – At least two Chinese women who joined historic “white paper” demonstrations in Beijing calling for an end to COVID-19 curbs were released on Wednesday after almost four months in detention, two of their friends told Reuters. The protests, unprecedented in President Xi Jinping’s decade in power, began in late…
By Akash Sriram and Hyunjoo Jin (Reuters) – Tesla Inc boss Elon Musk on Wednesday doubled down on the price war he started at the end of last year, saying the electric vehicle (EV) maker would prioritize sales growth ahead of profit in a weak economy. The company posted its lowest quarterly gross margin in…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Elon Musk said on Wednesday that electric vehicle (EV) giant Tesla likely will launch full self-drive technology this year and generate significant profits that offset some of the margin pressure it’s facing due to aggressive price cuts. “I hesitate to say this but I think we’ll do it…
(Reuters) -Police in Ohio broke up a protest by more than 100 people who were marching on Wednesday over a grand jury’s decision to not indict officers who fatally shot an unarmed Black man last year. Police used what appeared to be chemical spray and other non-lethal weapons to disperse the crowd. The mayor’s office…
By Madhumita Gokhale BENGALURU (Reuters) – India’s economy will slow considerably this fiscal year as the global economic slowdown impedes domestic growth prospects, according to a Reuters poll, which showed inflation will remain elevated despite recent interest rate hikes. While the expected expansion would be faster than other major economies, it will be below the…
By Madhumita Gokhale BENGALURU (Reuters) – India’s economy will slow considerably this fiscal year as the global economic slowdown impedes domestic growth prospects, according to a Reuters poll, which showed inflation will remain elevated despite recent interest rate hikes. While the expected expansion would be faster than other major economies, it will be below the…
