TAIPEI (Reuters) – Taiwan’s central bank debated the need for further rate hikes this year to combat persistent inflation, minutes from its last board meeting showed on Thursday. The central bank, at its quarterly board meeting in March, unanimously decided to raise its policy rate by 12.5 basis points (bps) to 1.875%, a surprise move…
By Lewis Krauskopf and David Randall NEW YORK (Reuters) – The end of a market-punishing rate hiking cycle may be in sight, but uncertainty over stock valuations and the economic outlook is keeping investors on alert for more turbulence ahead. The Federal Reserve on Wednesday signaled it may pause interest rate increases after raising rates…
BRUSSELS (Reuters) – Euro zone producer prices fell a bit more than expected month-on-month in March, data showed on Thursday, pointing to a further slowdown in consumer prices as the European Central Bank is expected to announce yet another interest rate rise. The European Union’s statistics office Eurostat said prices at factory gates in the…
By Duncan Miriri MALINDI, Kenya (Reuters) – Kenyan cult leader Paul Mackenzie lived with hundreds of followers in makeshift homes of polythene sheeting and thatch in a remote forest camp that he divided into areas with biblical names like Jerusalem and Judea, relatives of his adherents say. He told them the world as they knew…
COPENHAGEN (Reuters) -Volvo Cars will lay off around 1,300 office-based employees in Sweden as it steps up cost cutting, the Sweden-based auto maker said on Thursday. While an earlier efficiency drive had begun to show results, more was needed, CEO Jim Rowan said in a statement. “Economic headwinds, increased raw material prices and increased competition…
(Reuters) – Car sales in Russia leapt by 170.4% year-on-year in April, analytical agency Autostat said on Thursday, with the country’s bruised car market staging a partial recovery from the soaring prices and reduced deliveries of the same month last year. Russia’s auto industry had been heavily reliant on investment, equipment and parts from overseas…
(Reuters) – Hundreds of lawsuits have been filed over the terms of the emergency deal to save Credit Suisse by selling it to Swiss banking rival UBS, a Swiss court has said. The 3 billion Swiss franc ($3.35 billion) rescue, hammered out over a March weekend amid turmoil in the global banking sector, upended a…
PARIS (Reuters) -France’s anti-trust watchdog on Thursday gave Facebook-owner META two months to change its access rules for ad verification partners, saying the company was potentially taking unfair advantage of a dominant market position in online advertising. In a statement, the competition authority said META must publish new access criteria for partners seeking to use…
By Victoria Waldersee BERLIN (Reuters) -Volkswagen sees higher competition later this year as supply chain bottlenecks ease and China’s electric car market heats up, the carmaker said on Thursday, adding that it put margins over volume even as it fights to maintain market share. The company was emboldened to stick to its annual outlook of…
(Reuters) -Russia fired two dozen combat drones at Ukraine early on Thursday, striking a university campus in the Black Sea city of Odesa and attacking the capital Kyiv for the third time in four days. Russia has stepped up attacks as Ukraine prepares for a counteroffensive to try to retake Russian-occupied land in the south…
