By Aniruddha Ghosh (Reuters) – A blistering rally in Tesla Inc shares has powered the EV maker’s market value toward trillion-dollar levels, prompting some analysts to question its valuation and downgrade the stock. Goldman Sachs on Monday cut Tesla to “hold” equivalent rating, joining Morgan Stanley and Barclays, which downgraded the stock last week. The…
By David Gauthier-Villars (Reuters) – Anti-corruption authorities in the United States and Sweden are reviewing a complaint alleging that the Swedish affiliate of a U.S. company pledged to pay tens of millions of dollars in kickbacks if a son of Turkey’s President Recep Tayyip Erdogan helped it secure a dominant market position in the country….
(Reuters) – Spirit Aerosystems said on Monday it had held “constructive and positive meetings” with the U.S. machinists union through the weekend, indicating progress in negotiations for a new contract. Spirit, a crucial supplier for aerospace heavyweights Boeing and Airbus, expects its Wichita production operations to remain suspended until an agreement is reached with the…
BEIJING (Reuters) -S&P Global cut its forecast for China’s economic growth this year, underscoring the uneven nature of the country’s recovery from the pandemic which is spurring calls for further stimulus. S&P now expects China to log GDP growth of 5.2% in 2023, down from an earlier estimate of 5.5%. It was the first time…
By Mai Shams El-Din CAIRO (Reuters) – A Sudanese-Canadian citizen has been separated from an adopted sister and her children and is trying to help them secure safe passage out of Sudan where they have been stranded for over 10 weeks by the war between rival military factions. Sami Atabani said he hoped the Canadian…
(Reuters) – Nordson Corporation said on Monday it will buy Italy’s ARAG Group and its subsidiaries in an all-cash deal for an enterprise value of €960 million ($1.05 billion). On completion of the deal, ARAG will operate as a division in Nordson’s Industrial Precision Solutions segment, the company said in a statement. The transaction is…
By Muyu Xu and Emily Chow KUALA LUMPUR (Reuters) -Saudi Aramco believes market fundamentals remain “sound” for the second half as demand from emerging markets led by China and India will offset recession risk in developed markets, CEO Amin Nasser told an industry gathering on Monday. But other executives at the Energy Asia conference in…
MUMBAI (Reuters) – The Reserve Bank of India will likely start cutting the policy repo rate in early 2024 once headline inflation eases toward the 4% target, S&P Global Ratings said. “In India, under the assumption of normal monsoons, we expect headline consumer inflation to soften to 5% in fiscal 2024 from 6.7%,” the rating…
(Reuters) – Workers at Amazon’s warehouses in Germany’s eastern city of Leipzig started a 48-hour strike on Monday to press for higher wages, the country’s public sector union ver.di said. The workers want a collective labour agreement that includes a 2.5 euro ($2.73) per hour wage increase for a 12-month period, a 250-euro wage hike…
By Marion Giraldo MEXICO CITY (Reuters) – Latin America’s major central banks, which have led some of the most aggressive tightening over the last two years, may now be poised to lead the world on interest rate cutting amid clear signs of slowing inflation in places like Chile and Brazil. The potential key inflection point…
