TOKYO (Reuters) – Japan’s government on Tuesday has approved an increase in household electricity rates of made by seven major utilities after delays in examining their requests as the government sought to address record high inflation. The hikes, ranging from 14% to 42% to reflect higher fuel costs, will add pressures on the world’s third-biggest…
By Nick Carey LONDON (Reuters) – Mercedes-Benz’s van unit said on Tuesday that it plans a new, scalable platform for its electric vans that will reduce fixed costs by 20% by the middle of the decade and that electric models should make up 50% of its van sales by 2030. Electric vans should make up…
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – Senior Tesla Inc executives will meet Indian government officials on Wednesday and Thursday to discuss local procurement of parts and other issues, a source with direct knowledge of the matter told Reuters. The electric carmaker’s renewed interest in India comes nearly a year after it…
SYDNEY (Reuters) – Chinese wine sales will not return to the same level for Australia’s Treasury Wine Estate even if high tariffs imposed during a political dispute with Canberra are dropped, its chief executive said. The world’s biggest standalone winemaker drew a third of its profits from China before anti-dumping and subsidy tariffs of up…
By Aditya Kalra and Arpan Chaturvedi NEW DELHI (Reuters) -Pilots at India’s Go First face delays getting paid due to the airline’s bankruptcy process and want the government to allow them to take up new jobs without serving long notice periods, a group representing the pilots said in a letter seen by Reuters. In the…
By Jamie McGeever ORLANDO, Florida (Reuters) – China’s yuan faces significant long-term obstacles to becoming a global reserve currency of any great import, but the biggest challenge in the near term is the fact that nobody wants to buy Chinese bonds. Foreign investors have been dumping Chinese bonds ever since Russia invaded Ukraine in February…
By Summer Zhen HONG KONG (Reuters) – Large Asian hedge funds added Chinese education companies to their portfolios in the first quarter of 2023, and bought stocks in U.S. tech giants expected to benefit from ChatGPT and other artificial intelligence systems, regulatory filings showed. Investors poured money into private tutoring leaders, including New Oriental and…
By Foo Yun Chee BRUSSELS (Reuters) -Microsoft Corp won EU antitrust approval for its $69 billion acquisition of Activision on Monday, in a significant boost that could prompt Chinese and South Korean regulators to follow suit despite a British veto of the deal. The U.S. software giant still faces a battle to clinch the world’s…
(Reuters) – A look at the day ahead in U.S. and global markets from Samuel Indyk. Another day, another meeting in Washington. President Joe Biden and senior Republicans, including House Speaker Kevin McCarthy, are to sit down on Tuesday in an attempt to thrash out a deal to raise the debt limit and avoid a…
By Ira Dugal MUMBAI (Reuters) – The Indian government-backed National Bank for Financing Infrastructure and Development (NaBFID) expects to sanction close to 1 trillion rupees ($12.23 billion) in loans this financial year, its top executive told Reuters on Tuesday. The infrastructure lender, which started operations last year, has sanctioned in-principle loans worth 450 billion rupees…
