(Reuters) – Electric vehicle (EV) startup Faraday Future Intelligent Electric launched its limited edition FF 91 2.0 Futurist Alliance vehicle on Tuesday, priced at $309,000. The company said the model is limited to 300 units globally and that it has opened reservations in both U.S. and China. The startup also launched the regular FF 91…
ROME (Reuters) – Italy’s economy rose 0.6% in the first quarter, boosted by strong domestic demand, national statistics bureau ISTAT said on Wednesday, lifting a preliminary estimate of a 0.5% rise in gross domestic product. On a year-on-year basis, GDP in the January-March period was revised up to 1.9% compared with the 1.8% printout in ISTAT’s flash…
By Helen Reid LONDON (Reuters) – U.S. retailer Target’s decision to remove some LGBTQ-themed merchandise after customer backlash in its stores highlights the problem with companies’ “rainbow capitalism,” said Erik Carnell, a transgender designer whose products were pulled from its stores. Target has sold LGBTQ-related goods tied to Pride month for years. But last week…
PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Wednesday he was sticking to a forecast of 1% economic growth this year despite numerous risks to the outlook while a fall in inflation this month offered consumers some relief. The European Commission and the International Monetary Fund are more cautious about the outlook,…
By Leika Kihara TOKYO (Reuters) – Central banks risk being late in arresting inflation if they rely too much on forward guidance – a tool used to communicate the future path of monetary policy, a widely respected economist told policymakers at a Bank of Japan-hosted event on Wednesday. Forward guidance is an effective tool when…
BERLIN (Reuters) – Volkswagen will not participate in a discount battle in China “at any price”, Chief Operating Officer Ralf Brandstaetter said in an interview released on Wednesday. “Volkswagen is focusing on a sustainable business model. In concrete terms, this means that we will not participate in the discount battle at any price,” Brandstaetter said…
By Hyonhee Shin SEOUL (Reuters) – South Korean nuclear safety experts who visited Japan’s wrecked Fukushima nuclear power plant said on Wednesday that detailed analysis was needed to verify Japan’s plan to release tonnes of contaminated water from it into the sea. The Fukushima Daiichi nuclear station, about 220 km (130 miles) northeast of Tokyo,…
By Moira Warburton and David Morgan WASHINGTON (Reuters) – Legislation brokered by President Joe Biden and House Speaker Kevin McCarthy to lift the $31.4 trillion U.S. debt ceiling and achieve new federal spending cuts passed an important hurdle late on Tuesday, advancing to the full House of Representatives for debate and an expected vote on…
By Engen Tham, Summer Zhen and Selena Li HONG KONG/SHANGHAI (Reuters) -Credit Suisse has scrapped plans to set up a locally incorporated bank in China to sidestep a potential regulatory conflict arising from its merger with UBS, said two sources with direct knowledge of the matter. Embattled Credit Suisse had been preparing for years to…
BERLIN (Reuters) – German authorities have arrested seven suspected supporters of the Islamic State terrorist group as part of an investigation into terrorist financing, prosecutors said on Wednesday. At the same time, authorities conducted 19 raids in Baden-Wuerttemberg, Bremen, Hamburg, Hesse, North Rhine-Westphalia and Rhineland-Palatinate, as well as in one property in the Netherlands, the…
