TOKYO (Reuters) – Japanese automotive supplier Hitachi Astemo said on Friday it found misconduct over testing and other procedures for components had lasted as long as four decades, affecting a much wider range of plants and customers than previously disclosed. The comments come in the wake of news last month that Toyota affiliate Daihatsu rigged…
By Darya Korsunskaya and Alexander Marrow (Reuters) – As Russia’s military spending soars and sanctions squeeze its energy revenues, Moscow faces a battle to keep its budget deficit in check, with few economists now expecting the finance ministry to stick to its promise of a deficit no higher than 2% of GDP. Defence spending jumped…
By Diane Bartz WASHINGTON (Reuters) – The Federal Trade Commission (FTC) faces an uphill battle in its fight against Amgen Inc’s $27.8 billion acquisition of Horizon Therapeutics with an untested argument before a Trump-appointed judge, three antitrust experts said. Furthermore, the FTC’s complaint, unsealed late Tuesday, expresses concern about deals struck between drug companies that…
MUMBAI (Reuters) – India’s foreign exchange reserves rose for a third consecutive week and stood at $599.53 billion for the week ended May 12, their highest level since early June, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. That is an increase of $3.55 billion from the previous week. Reserves had risen…
LONDON/NEW YORK (Reuters) – Britain’s Prince Harry and his wife Meghan were pursued by photographers in New York on Tuesday in what the prince’s spokesperson described as a “near catastrophic car chase,” highlighting the often tense relationship between celebrities and photographers. Police in New York, however, described the encounter as relatively brief and said there…
By Andy Home LONDON (Reuters) – High-flying lithium has come crashing back to earth. A super-charged two-year rally, which saw Chinese spot lithium carbonate prices rise by tenfold, went into brutal reverse over the first part of this year. The spot price slumped by 70% between November and its low point in April. The battery…
NEW DELHI/BEIJING (Reuters) – China said on Friday that it is opposed to a G20 tourism meeting next week in the disputed Himalayan territory of Kashmir in India and will not attend. India, which holds the chair of G20 this year, has organised a series of meetings across the country in the run-up to the…
By Jesús Aguado MADRID (Reuters) – The European Central Bank needs to keep interest rates high to curb inflation in the medium term, its president Christine Lagarde said on Friday, signalling more monetary tightening. The ECB slowed the pace of rate hikes this month with a 25-basis-point rise, but Lagarde indicated the cycle was not…
By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – Tesla Inc is “serious” about its plans to establish a manufacturing base in India, the country’s deputy minister for technology told Reuters in an interview on Friday, a day after meeting senior executives of the electric vehicle maker. The Elon Musk led U.S. automaker held…
By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – Tesla Inc is “serious” about its plans to establish a manufacturing base in India, the country’s deputy minister for technology told Reuters in an interview on Friday, a day after meeting senior executives of the electric vehicle maker. The Elon Musk led U.S. automaker held…
