By Chavi Mehta (Reuters) -Xpeng’s U.S.-listed shares jumped more than 11% on Friday after the electric-car maker priced its latest G6 sport utility vehicle about 20% lower than Tesla’s Model Y in China. The pricing comes at a time when U.S. automaker Tesla’s sales in the world’s largest market for electric vehicles were likely to…
By Rodrigo Campos and Marc Jones NEW YORK/LONDON (Reuters) – From BlackRock to JPMorgan, some of the world’s top investors are upbeat on emerging markets for the second half of the year on the prospect of falling interest rates, while signs of progress in tricky debt talks are set to buoy frontier markets. Positive headlines…
BEIJING (Reuters) -China’s central bank said on Friday it would implement prudent monetary policy in a “precise and forceful manner” to support economic growth and employment, amid a slowdown in the economy’s recovery from the COVID pandemic. The People’s Bank of China will continue to keep the yuan basically stable and guard against the risk…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar’s share of currency reserves reported to the International Monetary Fund rose in the first quarter of the year, in the midst of a still aggressive rate-hike cycle from the Federal Reserve aimed at curbing uncomfortably high inflation. The greenback’s share of reserves rose to 59%…
MALAKASA/KALAMATA, Greece (Reuters) – Survivors of a boat disaster that likely killed hundreds of migrants near Greece have given accounts of traffickers in North Africa cramming them into a clapped-out fishing trawler. They recounted hellish conditions above and below deck, with no food or water. Some also said the tragic end, when it came, was…
(This June 28 story has been corrected to add that Archer received certification to conduct flight testing of its demonstrator aircraft in paragraph 7) (Reuters) – Joby Aviation said on Wednesday the U.S. aviation regulator has given the nod for flight testing of its electric air taxi, taking it a step closer to securing approvals…
By Toby Sterling AMSTERDAM (Reuters) -The Dutch government on Friday announced new restrictions on exports of some semiconductor equipment, boosting a U.S.-led drive to curb supplies of high-tech components to China but drawing an angry response from Beijing. “We have taken this step in the interest of our national security” said Dutch Trade Minister Liesje…
KYIV (Reuters) -Ukraine will receive $1.5 billion from the World Bank to support reconstruction and recovery, Prime Minister Denys Shmyhal said on Friday. The funds will be provided with guarantees from the Japanese government and channeled to support social security and economic development, Shmyhal, whose country has been invaded by Russia, said on the Telegram…
BEIJING (Reuters) – China’s central bank said on Friday it will increase its relending and rediscount quotas by 200 billion yuan ($27.53 billion) to support the farm sector and small firms, amid faltering economic recovery. The world’s second-biggest economy lost momentum in the second quarter following a strong post-COVID rebound in consumption, spurring calls for…
LONDON (Reuters) – Japanese equity funds have had $7.9 billion of inflows in the past four weeks, the most in a four-week period since April 2020, a report from Bank of America Global Research said. Foreign investors are excited about the prospect of a new era of growth in corporate Japan and their buying helped…
