By Casey Hall SHANGHAI (Reuters) – Automakers keen to make a splash at the Shanghai auto show showed off vehicles boasting features from crystal balls to in-car karaoke systems and 3D dashboards, as competition to attract drivers heats up in the world’s largest auto market. At the first such showcase in China since the country’s…
(Reuters) -BofA Global Research and other banks raised their forecast for China’s 2023 gross domestic product (GDP) growth this week, after first-quarter economic growth data came in stronger than expected. BofA now expects China’s economy to grow 6.3% this year from 5.5% earlier, after climbing 4.5% in the first-quarter as policymakers moved to bolster growth…
WASHINGTON/MANILA (Reuters) – U.S. President Joe Biden will meet his Philippine counterpart Ferdinand Marcos Jr at the White House on May 1 to discuss economic cooperation and the Indo-Pacific region, Manila and Washington said on Friday. The treaty allies have enjoyed warmer ties since Marcos took office last June, reversing his predecessor’s anti-U.S. stance. Next…
By Jennifer Rigby LONDON (Reuters) – African countries are lining up to approve a new vaccine for malaria, with 20 million doses available for them to buy this year, the shot’s manufacturer told Reuters. This week, Nigeria’s medicines regulator followed Ghana’s, with the two nations becoming the first countries in the world to back the…
By Svea Herbst-Bayliss NEW YORK (Reuters) – ValueAct Capital is pushing to oust Seven & i Holdings President Ryuichi Isaka, saying he is responsible for a “flawed strategy” and stating publicly for the first time that he is one of four directors it wants to replace at next month’s annual meeting. The San Francisco-based investment…
DETROIT (Reuters) – Facing a booming and hyper-competitive market for electric vehicles (EVs) in China, Ford Motor Co needs to reshape its brand for the world’s largest car market, Chief Executive Jim Farley said. “We’re going to have to rethink what the Ford brand means in a place like China,” Farley told reporters on Thursday…
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s last exports of livestock by sea have been completed and live exports have ceased, its agriculture minister said on Friday, as it fully implemented a ban on export shipments of animals on the grounds of their welfare. The government announced in 2021 that shipping animals offshore, largely…
By Kantaro Komiya TOKYO (Reuters) – The Bank of Japan’s new chief Kazuo Ueda will not start unwinding its ultra-easy policy at April 27-28 meeting, nearly 90% of economists polled by Reuters said, as the chance of a surprise tweak at his first rate-review subsided. Since succeeding Haruhiko Kuroda early this month, Ueda has reassured…
By Jason Xue and Summer Zhen SHANGHAI/HONG KONG (Reuters) – Chinese asset managers are rushing to launch funds to woo investors into state-owned firms, whose shares have surged this year as Beijing pushes the market to revalue the previously overlooked state sector. Shares of state-owned enterprises (SOEs) have risen sharply since November, when top securities…
DETROIT (Reuters) – Electric car giant Tesla’s decision to cut prices to drive up sales volume reflects the pressure it faces from competition and an ageing product line-up, Ford Chief Executive Jim Farley said on Thursday. Farley said Tesla’s price cuts underscore intense competition in the two-row crossover or SUV segment of the auto market,…
