By Holger Hansen and Maria Martinez BERLIN (Reuters) -German Finance Minister Christian Lindner is planning 16.6 billion euros ($18.1 billion) of net new debt for the 2024 federal budget, which includes record spending on defence, finance ministry sources said on Monday. The financial plan to 2027 shows new borrowing falling to 15.0 billion euros by…
By David Milliken LONDON (Reuters) – Britain’s economy shrank fractionally less than previously estimated in 2020 when the COVID-19 pandemic prompted the government to require many businesses to stop face-to-face operations, revised data suggested on Monday. The Office for National Statistics said it now estimated that Britain’s economy shrank by 10.9% rather than 11.0% in…
By Miho Uranaka OSAKA, Japan (Reuters) -The battery arm of Japan’s Panasonic will need to build four more factories to reach its target for a sharp boost in annual capacity of batteries for electric vehicles by 2031, its technology chief told Reuters. The comments by Shoichiro Watanabe of Panasonic Energy are the Tesla supplier’s first…
By Maggie Fick and Ludwig Burger (Reuters) – AstraZeneca said on Monday an experimental precision drug slowed progression of lung cancer in a late-stage trial, but the company’s shares fell as much as 6% as analysts said the benefits may not be as pronounced as hoped. The drug, datopotamab deruxtecan, which is being jointly developed…
A look at the day ahead in U.S. and global markets from Mike Dolan A holiday-staggered week for U.S. markets looks like picking up where a bumper first half of the year ended on Friday, with Tesla wowing the gallery with impressive delivery stats. Tesla stock zoomed 5% higher ahead of Monday’s open, beating forecasts…
BERLIN (Reuters) – Turmoil at Twitter following new limits to the amount of posts users can see appears to be driving a surge in activity at Mastodon, a German rival that prides itself on its decentralised, user-driven structure. “Looks like Mastodon’s active user base has increased by 110K (110,000) over the last day. Not bad,”…
LONDON (Reuters) -The British public’s expectations for inflation over the coming year rose in June but long-run expectations eased, according to a survey that will feed into the Bank of England’s next debate about how high it needs to raise interest rates. Public expectations for inflation in 12 months’ time increased to 5.0% in June…
(Reuters) – Apple Inc became the first company in the world to reach a market value of $3 trillion, buoyed by hopes over its expansion in new markets coupled with expectations of a more moderate approach to interest rate hikes by the Federal Reserve. The iPhone maker’s advance was among the most eye catching in…
SEOUL (Reuters) – South Korean steelmaking and materials conglomerate POSCO Group, headed by POSCO Holdings, said on Monday it plans to invest 121 trillion won ($93 billion) by 2030 for growth in core businesses such as steel, battery materials and hydrogen. POSCO said in a statement it plans to invest 72 trillion won, or more…
By Harish Sridharan and Sybille de La Hamaide (Reuters) -United Malt Group Ltd said on Monday it agreed to a A$1.5 billion ($999 million) takeover offer from Malteries Soufflet, a branch of French agribusiness InVivo, in a deal aimed at building the world’s top malt producer. The move will allow Malteries Soufflet to expand its…
