COPENHAGEN (Reuters) -Sweden-based Volvo Cars on Wednesday reported a 33% year-on-year rise in June sales to 66,379 cars, helped by a spike for fully electric cars. The manufacturer, which is majority-owned by China’s Geely, said it sold 9,535 fully electric cars in the month, up 346%. “The overall sales increase was driven by the company’s…
By Sofia Menchu GUATEMALA CITY (Reuters) -International election observers will return to Guatemala to monitor a court-ordered review of ballots from the nationwide vote late last month, the Organization of American States (OAS) said on Monday, as tension over the review’s fairness mount. The Washington-based OAS took the unusual step of swiftly returning its observer…
By Georgina Lee HONG KONG (Reuters) – The yuan has lost nearly 5% of its value against the dollar this year and in recent weeks China’s central bank has begun pushing back on the slide, fixing the currency’s daily trading band at stronger-than-expected levels. Some analysts suggest the stronger fixing is due to the “counter-cyclical…
By Tetsushi Kajimoto TOKYO (Reuters) -Japanese firms offered the biggest pay hikes in three decades at this year’s negotiations with workers, the country’s largest trade union group said on Wednesday, a development economists say will help revive anaemic consumer demand. A survey conducted by Rengo, Japan’s umbrella trade union group, showed pay hikes first reported…
By Xinghui Kok SINGAPORE (Reuters) – Singapore’s central bank warned on Wednesday of weak near-term growth for one of Asia’s top financial hubs and said its fight against rising prices was not yet over, even as it lowered its 2023 headline inflation forecast.In an annual review by the Monetary Authority of Singapore (MAS), Managing Director…
(Reuters) – Australia’s AMP Ltd tanked on Wednesday after the country’s federal court ruled against the wealth manager in class action proceedings that challenged the validity of some of the changes to its ‘buyer of last resort’ policy. Shares of the company fell as much 7.5% to their lowest level in over a month. AMP…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – U.S. stocks’ tendency to move in sync has plunged to near-record lows, but what might seem like a stock picker’s dream may actually be a mirage, and investors may be in for a rude awakening. S&P 500 correlation – a gauge of herd behavior, which measures how…
By Qiaoyi Li and Brenda Goh BEIJING/SHANGHAI (Reuters) -U.S. automaker Tesla and its chief Chinese rival BYD achieved record deliveries of their China-made vehicles in the second-quarter, China Passenger Car Association (CPCA) data showed, as a fight for market share heats up. Tesla sold 93,680 China-made electric vehicles (EVs) in June, up 18.72% from a…
By Gloria Dickie Monday, July 3, was the hottest day ever recorded globally, according to data from the U.S. National Centers for Environmental Prediction. The average global temperature reached 17.01 degrees Celsius (62.62 Fahrenheit), surpassing the August 2016 record of 16.92C (62.46F) as heatwaves sizzled around the world. The southern U.S. has been suffering under…
A look at the day ahead in European and global markets from Sonali Desai China’s faltering economic recovery has once again dominated activity in financial markets, dampening risk sentiment and giving the dollar a broad boost in relatively muted moves after the U.S. July 4 holiday. The private-sector Caixin/S&P Global services purchasing managers index hit…
