A look at the day ahead in European and global markets from Kevin Buckland China’s post-Covid recovery is firmly on track, according to a barrage of data on Tuesday. The economy expanded 4.5% in the first quarter year-on-year, accelerating from the previous 2.9% reading and handily outstripping forecasts for 4% growth. Retail sales surged more…
BEIJING (Reuters) – China’s fiscal revenue rose in March, reversing a decline in January-February, as economic activity rebounded following the end of strict COVID curbs, but the finance ministry warned that revenue growth would slow in the second half of the year. Fiscal revenue rose 0.5% in the first three months of 2023 versus the…
By Khalid Abdelaziz and Nafisa Eltahir KHARTOUM (Reuters) -Sudan’s battling factions both claimed to have made gains on Monday as violence cut power and water in the capital, and the U.N. envoy to Sudan said the two sides showed no signs of being willing to negotiate. Fighting between the army and the paramilitary Rapid Support…
SHANGHAI (Reuters) -Chinese electric vehicle (EV) maker Li Auto Inc said on Tuesday it plans to expand its line-up to 11 models by 2025, up from four currently, targeting the market for vehicles priced at 200,000 yuan ($29,100) and higher. Speaking on the sidelines of the Shanghai auto show, Li Auto’s president and chief engineer…
SHANGHAI (Reuters) -Chinese electric vehicle (EV) maker Li Auto Inc said on Tuesday it plans to expand its line-up to 11 models by 2025, up from four currently, targeting the market for vehicles priced at 200,000 yuan ($29,100) and higher. Speaking on the sidelines of the Shanghai auto show, Li Auto’s president and chief engineer…
(Correct to add percentage indicator in headline) BEIJING (Reuters) – China’s property investment fell 5.8% from a year earlier in the first three months of 2023, from a 5.7% decline in January-February, official data showed on Tuesday. Property sales by floor area declined 1.8% year-on-year in the first quarter of the year, versus a 3.6%…
By Joey Roulette WASHINGTON (Reuters) – Demand for sending satellites into space remains strong, but U.S. rocket startups are taking drastic measures to survive a tight funding environment where fears have been exacerbated by the bankruptcy of Virgin Orbit. The industry faces an interesting dichotomy. Demand has surged from launching a few satellites on small…
SHANGHAI (Reuters) – Germany’s Volkswagen AG said on Tuesday it plans to introduce 10 more electric vehicle (EV) models by 2026 and it remained committed to China, where established foreign brands are losing ground to nimble local rivals. “As VW, we remain firmly committed to China … Our guiding principle is development in China, for…
By Scott Murdoch SYDNEY (Reuters) – Asia’s shares pared losses on Tuesday as China’s economy recorded a stronger-than-expected recovery from punishing pandemic lockdowns last year that led to a major slowdown. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2%, a smaller decline than the 0.4% fall earlier in the session. China’s economy…
BEIJING (Reuters) – China’s economy grew at a faster than expected clip in the first quarter, official data showed on Tuesday, expanding 4.5% year-on-year, as policymakers move to bolster growth following the end of strict COVID-19 curbs in December. Analysts polled by Reuters had expected gross domestic product (GDP) to expand 4.0% from a year…
