By Kevin Yao BEIJING (Reuters) -A recovery in Chinese consumer demand needs time to pick up due to the “scarring effect” of COVID-19, but there is no basis for any long-term deflation, an official from the People’s Bank of China (PBOC) said on Thursday. While the world’s second-largest economy reported better-than-expected growth in the first…
LONDON (Reuters) – The European Parliament on Thursday overwhelmingly backed the European Union’s first set of rules to regulate cryptoasset markets. Parliament voted by 517 in favour and 38 against regarding the world’s first comprehensive set of regulations for cryptoasset markets. EU states have already given the nod to the rules which will be rolled…
(Reuters) -AT&T Inc on Thursday missed Wall Street estimates for its first-quarter revenue, signaling intense competition from deep-pocketed rivals Verizon Communications Inc and T-Mobile US Inc. Shares of the Dallas, Texas-based company fell nearly 4% in trading before the bell. The stock gained about 7% this year, as of Wednesday’s close. Much like other sectors,…
(Reuters) – U.S. homebuilder D.R. Horton Inc posted a 34.4% fall in quarterly profit on Thursday, as high prices and expensive mortgages made housing unaffordable for many Americans. The Federal Reserve’s aggressive interest rate hikes have pushed the housing market into a recession, with residential investment contracting for seven straight quarters, the longest such streak…
By Gilles Guillaume and Silvia Aloisi PARIS (Reuters) -Renault does not plan to drastically cut prices on its electric vehicles, including the recently launched Megane E-Tech, and follow U.S. rival Tesla in what the French carmaker’s finance chief on Thursday called a downward “spiral”. Tesla late on Wednesday posted its lowest quarterly gross margin in…
By Maria Martinez and Riham Alkousaa BERLIN (Reuters) – German wind power developer SL Naturenergie has been looking for a senior project developer for two years now without success. The company, in the west German town of Gladbeck, needs to expand its workforce of 50 by a fifth to ensure it can keep up with…
By Svea Herbst-Bayliss and Helen Coster NEW YORK (Reuters) – The co-head of the private equity firm that owns Dominion Voting Systems said the company’s $787.5 million settlement with Fox Corp held Fox accountable for spreading lies even if it did not apologize or admit wrongdoing. “We exposed the truth and we did create accountability…
By YP Rajesh NEW DELHI (Reuters) – India is poised to overtake China as the world’s most populous nation, with almost 3 million more people than its neighbour by the middle of this year, data released on Wednesday by the United Nations showed. India’s population by mid-year is estimated at 1.4286 billion, against 1.4257 billion…
(Reuters) – Alaska Air Group on Thursday reported a bigger-than-expected quarterly loss as higher expenses related to labor and fuel dented the carrier’s margins. As more people plan their travel after the pandemic kept them at home for a long period, airlines are struggling to capitalize on rising demand with limited capacity coupled with elevated…
SANAA (Reuters) -At least 78 people were killed in a stampede in the Yemeni capital Sanaa as residents gathered at a school to receive cash donations distributed by merchants during Ramadan, witnesses and the Houthi administration said on Thursday. Hundreds of people crowded to receive the alms, which amounted to 5,000 Yemeni riyals, or about…
