SHANGHAI (Reuters) -Tesla Inc Chief Executive Elon Musk departed Shanghai Thursday morning, wrapping up a two-day trip to China in which he met government ministers, a key battery supplier and visited the automaker’s biggest production hub. Photos of Musk’s visit to Tesla’s Shanghai factory late Wednesday showed him holding up a “Giga Shanghai” sign, flanked…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan must keep monetary policy ultra-loose as it will take time to re-anchor inflation expectations to its 2% target, International Monetary Fund’s chief economist Pierre-Olivier Gourinchas told Reuters. But the central bank must be vigilant to the risk of price growth overshooting expectations, and be ready…
(Reuters) – After a career spent navigating the toughest opponents on the court, 20-times major winner Roger Federer will now help commuters navigate the open road, as the newest voice of driving app Waze. The retired, polyglottic tennis star can offer directions in English, French, or German, and is the first person to record custom…
By Laurie Chen BEIJING (Reuters) – Applied maths graduate Liang Huaxiao tried to land a job with one of China’s tech giants for two years. Then she tried customer service and sales. Then she applied for assistant roles in a bakery and in a beauty parlour. Like a rising number of her highly educated peers,…
By Lananh Nguyen, Saeed Azhar and Nupur Anand NEW YORK (Reuters) -Bank of America Corp expects good performance for its retail business in the second quarter, buoyed by resilient consumer demand, a senior executive said on Wednesday. “The consumer is still very healthy,” Holly O’Neill, Bank of America’s president of retail banking, said at a…
BEIJING (Reuters) -China’s factory activity unexpectedly swung to growth in May from decline, a private sector survey showed on Thursday, driven by improved production and demand, helping struggling firms that have been hit by slumping profits. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) rose to 50.9 in May from 49.5 in April, above the…
BEIJING (Reuters) -China’s factory activity unexpectedly swung to growth in May from decline, a private sector survey showed on Thursday, driven by improved production and demand, helping struggling firms that have been hit by slumping profits. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) rose to 50.9 in May from 49.5 in April, above the…
SYDNEY (Reuters) – Australian business investment rose to a seven-year high in the first quarter, helped by a jump in spending on mining, manufacturing and transport, while firms affirmed plans for solid spending in the year ahead. Data from the Australian Bureau of Statistics on Thursday showed private capital spending climbed a real 2.4% in…
By Tetsushi Kajimoto TOKYO (Reuters) – Japanese companies raised spending on plant and equipment in January-March at the fastest rate since 2015, with a stronger-than-expected showing by manufacturers signalling a possible upward revision to first-quarter economic growth. Capital spending has been a bright spot for Japan’s economy, the world’s third largest, which emerged from a…
By Jihoon Lee SEOUL (Reuters) -South Korea’s exports fell for an eighth straight month in May in annual terms, but the pace was slower than expected with signs that the worst had passed for chip and China-bound shipments. Overseas sales by Asia’s fourth-largest economy fell 15.2% year-on-year to $52.24 billion in May, trade ministry data…
