By Herbert Lash and Harry Robertson NEW YORK/LONDON (Reuters) – The dollar rose on Monday after New York state factory activity in April increased for the first time in five months, helping bolster expectations the Federal Reserve will raise interest rates in May. Also bolstering the dollar was a report showing confidence among U.S. single-family…
By David Shepardson (Reuters) – The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo Cars electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing. The Treasury said the new requirements effective on Tuesday will also cut by half credits for the Tesla Inc…
By Akash Sriram (Reuters) -Tesla Inc’s first-quarter margins are anticipated to have hit a more than three-year low as the electric-vehicle maker slashed prices to lure more buyers in the face of rising competition and a weak economy. The world’s most valuable automaker, which commands over half of the U.S. EV market, cut sticker prices…
By Sheila Dang (Reuters) -Montana lawmakers on Friday passed a bill to ban popular short-form video app TikTok from operating in the state, the latest threat to the Chinese-owned app’s existence in the U.S. The bill, known as SB 419, would prohibit mobile app stores from offering TikTok for download to users in Montana. The…
HONG KONG/LONDON (Reuters) – HSBC’s biggest shareholder Ping An is likely to vote in favour of splitting the bank up at its annual investor meeting on May 5, a source familiar with the Chinese insurer’s thinking said on Monday. The source said Ping An would vote in favour of two resolutions tabled by individual investor…
By Carolina Mandl NEW YORK (Reuters) – Big global money managers got rid of a high volume of Chinese equities in recent days, while adding U.S. energy shares to portfolios at a near-record pace, according to a Goldman Sachs report. Managers decided to sell Chinese equities amid heightened geopolitical tensions between the world’s second largest…
By Tetsushi Kajimoto and Kaori Kaneko TOKYO (Reuters) – The Bank of Japan is considering a projection for consumer prices for the 2025 fiscal year to rise 1.6-1.9%, the Jiji news agency reported on Monday, in a move seen to keep market players from betting on the central bank to head to exit from stimulus….
JAKARTA (Reuters) – Indonesia posted a 128.5 trillion rupiah ($8.69 billion) budget surplus in the first quarter on strong tax collection and the recent strengthening of the rupiah currency could help further reduce this year’s deficit, officials said on Monday. Indonesia’s tax take rose dramatically in 2022 amid high global commodity prices and this year’s…
(This April 16 story has been corrected to say “setbacks”, not “delays”, in paragraph 2) By Rozanna Latiff and Yantoultra Ngui KUALA LUMPUR/SINGAPORE (Reuters) – Malaysia plans to introduce a second 5G network from next year, four sources told Reuters, in the latest policy shake-up aimed at dismantling monopolies and promoting competition by Prime Minister…
KUALA LUMPUR (Reuters) – The Malaysian government is re-evaluating a $3.9 billion settlement deal reached between the previous administration and U.S. investment bank Goldman Sachs over the 1MDB financial scandal, state news agency Bernama reported on Monday. Prime Minister Anwar Ibrahim said on Monday a government taskforce looking into 1MDB issues was scrutinising the 2020…
