BRUSSELS (Reuters) – Chipmakers STMicroelectronics and GlobalFoundries secured EU approval on Friday to build a chip factory with French state aid in France. The companies announced their plan in July last year, with the new facility to be situated next to STM’s existing plant in Crolles and targeted to reach full capacity by 2026, with…
A look at the day ahead in U.S. and global markets from Mike Dolan After mega tech earnings inspired the best day for Wall St stocks in almost 4 months, online retail giant Amazon cooled the frenzy somewhat on Friday – even as chipmaker Intel attempted to pick up the torch. But the dramatic re-acceleration…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Asian finance leaders gathering in South Korea next week will likely debate ways to beef up safeguards against market turbulence, as global banking sector woes and fears of recession in advanced economies cloud the economic outlook. The impact of U.S. interest rate hikes on the region’s…
By Mike Dolan LONDON (Reuters) -After a torrid 2022 for its stock prices, it seems Big Tech can do no wrong again this year. The eye-popping outperformance of the U.S. digital and technology giants this year helps explain the slightly puzzling levity of stock markets amid all the recession handwringing – not least because these…
(Reuters) – Russian Colonel General Mikhail Mizintsev, who was sanctioned by the West and dubbed the “Butcher of Mariupol” for his role in the Ukraine war, has been removed as deputy defence minister, according to a military blogger and a leading news website. Mizintsev orchestrated the siege of the Ukrainian city of Mariupol in the…
By Iain Withers and Lawrence White LONDON (Reuters) -British bank NatWest reported a 20 billion pound fall in deposits in the first quarter as consumers faced with a cost of living crisis forked out on steeper bills and shopped around for the best deals on their savings. The bank’s CEO Alison Rose said competition for…
BRUSSELS (Reuters) – Chipmakers STMicroelectronics and GlobalFoundries on Friday secured EU approval to build a new chip factory with French state aid in France. The companies announced their plan in July last year, with the new facility to be situated next to STM’s existing plant in Crolles and targeted to reach full capacity by 2026,…
By Jan Strupczewski STOCKHOLM (Reuters) -The International Monetary Fund called on the European Central Bank on Friday to keep raising interest rates until the middle of 2024 and on European Union finance ministers to tighten fiscal policy in concerted action to bring down high inflation. The head of the IMF’s European Department Alfred Kammer said…
BEIJING (Reuters) – China will maintain support for the economy, focusing on domestic demand which remains inadequate, the Politburo, a top decision-making body of the ruling Communist Party, said on Friday, the state-run Xinhua news agency reported. The triple pressures facing the economy – shrinking demand, supply shocks and weakening expectations – have eased amid…
By Maria Martinez BERLIN (Reuters) -German unemployment rose more than expected in April, Labour Office figures showed on Friday, as a sluggish economy took its toll on the labour market. The Federal Labour Office said the number of people out of work increased by 24,000 in seasonally adjusted terms to 2.567 million. Analysts polled by…
