BERLIN (Reuters) – Volkswagen’s U.S.-assembled ID.4 models will be eligible for a $7,500 tax credit this year, according to the German carmaker, after new U.S. Treasury requirements on battery sourcing came into effect this week. Volkswagen added that it was the only international carmaker to have a full battery-electric vehicle eligible for the full credit….
BERLIN (Reuters) – Deutsche Bank plans to reduce its executive board to nine members from 10 and to cut some jobs in infrastructure and in its private banking business to save costs, a source close to the bank told Reuters on Thursday. Germany’s largest bank, which is due to present first-quarter results on April 27,…
By A. Ananthalakshmi and Rozanna Latiff KUALA LUMPUR (Reuters) – Malaysia has launched an investigation to uncover how hundreds of migrant workers arrived from South Asia without jobs, despite having paid steep fees to get employment, officials and rights groups said. The issue revives concerns over labour abuses in Malaysia, a key manufacturing hub at…
By Wayne Cole SYDNEY (Reuters) -Australia’s central bank is expected to get a new specialist board to manage monetary policy that will give independent expert members more responsibility for setting interest rates, a dilution of the bank’s traditional power over policy. A 272-page review of the Reserve Bank of Australia (RBA) released on Thursday outlined…
SHANGHAI (Reuters) – Chinese internet users berated German automaker BMW on Thursday, accusing it of discrimination at the Shanghai auto show amid claims workers at its Mini booth favoured foreign over domestic visitors during an ice cream giveaway promotion. Mini apologised for the incident in question, saying in a statement on its official Weibo account…
By Marie Mannes STOCKHOLM (Reuters) – Sweden’s AB Volvo lifted its outlook for key heavy-duty truck markets in Europe and North America this year on Thursday as it reported a 32% year-on-year rise in order intake for the first quarter. The maker of vehicles under brands such as Mack Trucks and Renault as well as…
By Jamie McGeever ORLANDO, Florida (Reuters) -Markets are struggling to disentangle their assumption the Federal Reserve will quickly reverse its final rate rise within months from anxiety around a summer debt ceiling showdown – and suspect rates pricing may be skewed by the latter. Policymakers have indicated, via their median ‘dot plot’ projections and public…
By Farah Master HONG KONG (Reuters) -Western media reports on China’s population being overtaken by India deliberately ignores China’s development, using the topic to “bad mouth” it and advocate decoupling, state broadcaster CCTV said on Thursday. CCTV’s sharply worded commentary said the subtext from Western media in recent years was that China’s development was in…
By Richa Naidu and Jessica DiNapoli LONDON/NEW YORK (Reuters) – Consumer goods companies like P&G, Unilever and Nestle should start easing price increases as supply chain costs decline, investors told Reuters, worried that further hikes could hit market share and margin growth. The makers of everything from soap and ice cream to condoms and cleaning…
By Hyonhee Shin SEOUL (Reuters) -South Korean President Yoon Suk Yeol will visit the United States next week for a summit with President Joe Biden as the allies grapple for ways to handle the challenge posed by North Korea’s growing nuclear and missile arsenal. Yoon’s April 24-29 trip will be the first state visit to…
