By Victoria Waldersee BERLIN (Reuters) -Porsche AG warned on Wednesday that supply chain problems were hampering battery-electric vehicle (BEV) production and pointed to slower growth in Europe and China, but kept its BEV sales target on the basis that luxury demand was more resilient to downturns. The carmaker is facing “major challenges” in securing special…
By Parisa Hafezi, Laila Bassam and Nidal al-Mughrabi DUBAI (Reuters) -The crisis sweeping Israel has become a focal point for its enemies across the Middle East who have convened top-level meetings to weigh the turmoil and how they might capitalise on it, sources familiar with the discussions say. Foes including Lebanon’s Iran-backed Hezbollah have been…
By Daniel Leussink and Gilles Guillaume TOKYO/PARIS (Reuters) -Nissan will invest up to $663 million in Renault’s new electric vehicle unit, the automakers said on Wednesday, as they finalised terms of their restructured partnership after months of negotiation clouded by tension. Sealing the deal is likely to be seen as a positive. Talks between the…
FRANKFURT (Reuters) – Lending to euro zone companies slowed again last month, adding to already mounting evidence that sharply higher interest rates are putting a brake on credit creation and economic growth. Lending to firms in the 20-nation currency bloc expanded by 3.0% year-on-year after a 4.0% reading a month earlier while household credit growth…
JAKARTA (Reuters) – Indonesia is developing a scheme for banks to provide a financing facility for exporters who keep their earnings onshore, after business groups complained that new rules made it harder to cover operational costs, a government official said. Under a rule introduced earlier this month, natural resource exporters must retain for three months…
TOKYO (Reuters) – The Bank of Japan (BOJ) will maintain accommodative monetary conditions for companies, Governor Kazuo Ueda was quoted as saying at a key government meeting on Wednesday. While dollar/yen moves have been somewhat volatile due to U.S.-Japanese interest rate differentials, Japan’s long-term interest rates have moved sideways under the BOJ’s yield curve control…
By Yadarisa Shabong (Reuters) -British luxury carmaker Aston Martin’s second-quarter results beat market expectations on Wednesday, powered by higher prices and demand for its DBX707 sports utility vehicle and limited edition V12 Vantage Roadster, sending shares 6% higher. Demand for its new ‘Valour’ model, launched for the brand’s 110th anniversary and inspired by its racing…
By Kirsty Needham SYDNEY (Reuters) – The United States Coast Guard is in talks with Pacific Island countries to expand its maritime law enforcement role by allowing U.S. officers to board and search vessels suspected of illegal activity within their economic zones, officials said. The push to expand the role of U.S. Coast Guard across…
By Nell Mackenzie and Carolina Mandl LONDON/NEW YORK (Reuters) – Property markets knocked by high interest rates and the end of cheap financing have caught the eye of hedge funds. U.S. and European commercial property markets face lingering office vacancies, diminished retail activity and higher refinancing costs, while investors are wary of highly indebted Chinese…
By Tom Sims and Matthias Inverardi FRANKFURT (Reuters) -Deutsche Bank on Wednesday posted a 27% fall in second-quarter profit as investment banking revenue slumped and warned of the need for cost cuts even though higher interest rates fuelled gains at its retail division. The German lender downgraded its outlook for the investment bank, saying it…
