(Reuters) -Some Chinese carmakers are looking to set up manufacturing and assembly plants in Europe as they aim to ramp up sales of lower-cost cars in the region to rival their European competitors amid slowing demand at home. European imports of Chinese-made electric vehicles (EVs) have soared in recent years, raising concerns among domestic EV…
By Ashitha Shivaprasad (Reuters) – Gold prices firmed on Friday, poised for their best week since April 5, following recent economic data that boosted bets of an interest rate cut from the Federal Reserve. Spot gold gained 0.2% at $2,350.87 per ounce by 0212 GMT after hitting a more than two-week high earlier. Prices have…
By James Mackenzie JERUSALEM (Reuters) – U.S. President Joe Biden’s announcement that he would withhold arms supplies if Israel went through with its assault of Rafah drew a defiant reaction on Wednesday alongside unease at the possible longer term fallout from the open clash with Israel’s most vital ally. The warning came after months of…
By Niket Nishant and Manya Saini (Reuters) – Robinhood Markets’ suite of new products, including its credit card and futures trading platform, will be crucial to drive growth as market fluctuations and regulatory risks cloud the near-term outlook for its legacy business, analysts said. The expanded offerings show that the 11-year old trading app, best…
By Zaheer Kachwala (Reuters) -Roblox cut its annual bookings forecast on Thursday, fanning concerns about a slump in the videogame industry and sending its shares down 23% to mark their worst day in more than two years. The move signaled that people were dialing back on spending within Roblox’s video-gaming platform amid an uncertain economic…
(This May 8 story has been corrected to clarify that nights and experiences booked rose to 133 million, not $133 million, in paragraph 3) By Doyinsola Oladipo and Aishwarya Jain (Reuters) – Airbnb reported a higher quarterly profit on Wednesday but forecast second-quarter revenue below Wall Street expectations, sending shares of the vacation rental company…
By Clyde Russell SINGAPORE (Reuters) -It’s time for a reality check about decarbonising Asia’s vast and growing steel sector. Reducing the carbon footprint is possible, but only in stages, and over a far longer than ideal time period, and only if incentives to do so are available. Steel is the biggest industrial contributor to global…
By Suzanne McGee (Reuters) – Global X ETFs rolled out two new exchange-traded funds using options to generate additional income for investors, the firm said Wednesday. The new offerings, the Global X MLP & Energy Infrastructure Covered Call ETF and the Global X S&P Quality Dividend Covered Call ETF, will write call options on positions…
LAGOS (Reuters) – Microsoft is closing down its Africa Development Centre in the continent’s most populous nation Nigeria, which will lead to job losses, a spokesperson said on Wednesday. The centre, based in the commercial capital Lagos was opened in 2022 as part of Microsoft’s push to deliver high-end engineering and innovation solutions for the…
By Phil Stewart and Idrees Ali WASHINGTON (Reuters) -President Joe Biden decided to hold back delivery of high payload munitions to Israel because Washington believes a possible Israeli offensive in the Gaza city of Rafah could put civilians at risk, Defense Secretary Lloyd Austin said on Wednesday. Austin added that the administration was also reviewing…
