(Reuters) – Nikola Corp will start liquidating the assets of battery maker Romeo Power, the electric truck maker said on Monday, less than a year after buying it. The company, which went public in 2020, has struggled to keep up with high expectations of early investors, amid inflated costs of commodities and tight access to…
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s business confidence in the second quarter continued to pick up from low levels but firms remain downbeat, a private think tank said on Tuesday. A net 63% of firms surveyed expected general business conditions to deteriorate compared with 66% pessimism in the previous quarter, the New Zealand…
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -Japan’s top lenders aim to carve out a larger presence in U.S investment banking as they look to make better use of their massive balance sheets by winning a bigger slice of deals, executives say. For years Japan’s megabanks have been notable players in U.S. corporate lending,…
By Aditya Soni (Reuters) -Tesla shares jumped about 7% on Monday after better-than-expected quarterly deliveries showed that Chief Executive Elon Musk’s plan of boosting volumes through discounts was working. The day’s gains lifted the top U.S. electric-vehicle manufacturer’s market capitalization by around $57 billion to $887 billion. At $277, the stock has already more than…
By Sinéad Carew NEW YORK (Reuters) – Wall Street stock indexes ended Monday’s shorter session up slightly along with U.S. Treasury yields, as investors weighed up a mixed bag of economic data ahead of second-quarter earnings and uncertainty over the direction of central bank policy. On Wall Street, Nasdaq led gains while the Dow was…
By Kylie Madry MEXICO CITY (Reuters) – Mexico brought in close to $5.7 billion in remittances in May, central bank data showed on Monday, breaking a monthly record that analysts cautioned was softened by the recent strength of the peso versus the dollar. While Mexico records remittances in dollars, as most of the funds come…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – South Korea’s Samsung Display has filed a lawsuit against BOE Technology, accusing the Chinese rival of infringing five of its patents for displays used in mobile devices including Apple’s iPhone 12. Samsung Display, a unit of Samsung Electronics, asked a federal jury in Texas to award damages for…
By Herbert Lash and Joice Alves NEW YORK/LONDON (Reuters) -The dollar was little changed on Monday against a basket of major trading currencies and gained against a yen that’s under intervention watch after the Japanese finance minister warned last week of excessive moves in the currency market. The dollar initially weakened on news of U.S….
By Orhan Coskun, Ezgi Erkoyun and Huseyin Hayatsever ANKARA (Reuters) – Turkey will continue its monetary policy U-turn, which began with a sharp post-election rate hike last month, until the inflation outlook improves significantly, the central bank said on Monday. The hawkish policy guidance came as data showed the central bank’s net foreign reserves recorded…
(Updates June 30 story with new headline) By David Stanway SINGAPORE (Reuters) -The target of keeping long-term global warming within 1.5 degrees Celsius (2.7 Fahrenheit) is moving out of reach, climate experts say, with nations failing to set more ambitious goals despite months of record-breaking heat on land and sea. As envoys gathered in Bonn…
