SHANGHAI (Reuters) -Tesla’s ambitious plan to boost auto production in Shanghai, its most valuable plant globally, hinges on China’s approvals to develop 70 hectares (172 acres) of former farmland that is currently overgrown with wildflowers. Once courted by Beijing to help spur the development of a domestic electric vehicle (EV) industry, Tesla may now be…
By Tim Hepher, Valerie Insinna, Joanna Plucinska and Allison Lampert PARIS (Reuters) – Global aerospace and defence companies will tout the cleaner transport and robotic weapons of the future as they also tackle urgent supply bottlenecks at next week’s Paris Airshow, taking place under the shadow of climate fears and a war economy. The world’s…
By Josh Ye HONG KONG (Reuters) -China’s tech firm Baidu Inc said on Friday that it has obtained a commercial licence from regulators for its driverless ride-hailing service in parts of Shenzhen, the country’s tech hub. Its fleet of driverless robotaxis, under the brand Apollo Go, will be allowed to operate and collect fares from…
By Sumit Khanna AHMEDABAD, India/KARACHI (Reuters) – Roofs were blown off houses and trees and electric poles uprooted, leaving thousands without power as a severe cyclone made landfall and rain lashed both the Indian and Pakistani coasts early on Friday. At least two people died in India’s western state of Gujarat after being swept away…
By Nandita Bose and Trevor Hunnicutt WASHINGTON (Reuters) – Indian Prime Minister Narendra Modi will meet the CEOs of top American companies including FedEx, MasterCard and Adobe during his trip to the United States for an official state visit, a source with knowledge of the matter said. The CEO reception with more than 1,200 participants,…
By Naomi Rovnick LONDON (Reuters) – If you looked at red-hot stock markets without following central banks, you could well assume interest rates are being cut. Of course, they are not. The U.S. Federal Reserve this week paused its most aggressive interest rate rise cycle in decades, but laced the decision with a warning of…
BEIJING (Reuters) – China’s fiscal revenues grew 14.9% in the first five months from a year earlier, quickening from a 11.9% rise in the first four months, data from the finance ministry showed. Fiscal spending rose 5.8% in the January-May period from a year earlier, slowing from a rise of 6.8% rise in the first…
By Georgina Lee and Winni Zhou HONG KONG (Reuters) – The Hong Kong stock exchange will start offering yuan-denominated Chinese stocks from Monday in what it calls a dual counter, a scheme that is seen as part of China’s efforts to increase the yuan’s use overseas. The exchange will initially target the offerings at investors…
By Howard Schneider, Balazs Koranyi and Leika Kihara WASHINGTON/FRANKFURT/TOKYO (Reuters) -Two years into confronting rising inflation, the world’s top central banks are still waiting for a decisive turn in their favor, with monetary policy edging ever tighter and policymakers maintaining their pursuit of a common 2% inflation target. The European Central Bank on Thursday raised…
By Samuel Shen and Georgina Lee SHANGHAI/HONG KONG (Reuters) – China’s gradual internationalisation of its currency will shift to its next leg on Monday when about two dozen Chinese companies start trading in their home currency in Hong Kong’s stock market. Hong Kong stocks such as Alibaba and Tencent are among the 24 stocks which…
