By Akash Sriram and Paul Lienert DETROIT (Reuters) – General Motors is investing in a Silicon Valley startup to help it speed development of a more affordable battery chemistry for its future electric vehicles, the company said on Wednesday. GM will lead a $60 million investment in Mitra Chem, a two-year-old Mountain View, California, company…
BEIJING (Reuters) – China will strengthen the coordination of various policies to boost growth and meet this year’s economic target, according to a cabinet meeting cited by state media on Wednesday. The meeting held on Wednesday comes amid China’s mounting economic woes with a prolonged property crisis, deflationary pressure and slower growth in retail sales…
(Reuters) – Embattled property developer China Evergrande Group on Wednesday resolved to delay its meetings for the Hong Kong CEG class A and class C holders of debt to provide them more time to consider its fresh restructuring plan. The company adjourned its meetings for the creditors to Aug. 28. The meeting will consider the…
By Timour Azhari BAGHDAD (Reuters) – Iraq has made strides implementing U.S. dollar supply restrictions targeting Iran but faces an uphill battle with a banking system unaccustomed to strict oversight and persistent currency smugglers, central bank governor Ali al-Allaq said. “It is really a battle, because the people benefiting from this situation and those harmed…
(This Aug. 3 story has been corrected to say that India could overtake ‘Japan and Germany’ not ‘Japan and China’ in paragraph 6) By Manoj Kumar NEW DELHI (Reuters) – S&P Global on Thursday projected the Indian economy to grow by an average annual rate of 6.7% to March 2031, driven by manufacturing and services…
BEIJING/HONG KONG (Reuters) -Missed payments on investment products by a leading Chinese trust firm and a fall in home prices have added to worries that China’s deepening property sector crisis is stifling what little momentum the economy has left. Zhongrong International Trust Co., which traditionally had sizable real estate exposure, missed payments on dozens of…
BEIJING (Reuters) -Tesla has cut prices for its existing inventories of its premium Model S and Model X cars in China by as much as 6.9%, it said on Wednesday. A post from the carmaker on social media platform Weibo showed the price of the Model S cut 6.7% to 754,900 yuan ($103,477.58) from 808,900…
By Cassandra Garrison GUATEMALA CITY (Reuters) – A Guatemalan anti-corruption campaigner is heavily favored to snag the presidency in Sunday’s run-off vote, suggesting the country could be heading towards a new era after years of democratic backsliding. Bernardo Arevalo of the progressive center-left Semilla party, who surprised with a second-place finish in the first-round vote,…
A look at the day ahead in U.S. and global markets from Mike Dolan Restive bonds showed signs of calm on Wednesday, but China’s struggling economy and markets continue to unnerve world markets. A twin jolt from resurgent western debt yields and China’s deepening economic funk and property sector troubles have made for a bumpy…
MEXICO CITY (Reuters) – Former Mexico City Mayor Claudia Sheinbaum has grown her lead to a 13-point advantage in the contest to be the ruling party’s candidate in Mexico’s 2024 presidential election, a poll published on Wednesday in newspaper El Universal showed. With less than a month until the candidate is announced, the survey showed…
