By Mathieu Rosemain and Leigh Thomas AIX-EN-PROVENCE, France (Reuters) – European firms are concerned they could get caught in the cross-fire of rising economic rivalry between the United States and China, with some officials at a French business conference also frustrated at Europe’s slowness in crafting a response. Rising trade tensions between the two superpowers…
By David Randall NEW YORK (Reuters) -As second-quarter earnings approach, investors are looking at beaten-down sectors which might gain ground regardless of whether the U.S. economy falls into recession this year. While the benchmark S&P 500 has gained nearly 15% year-to-date driven by a handful of megacap growth and technology names, some sectors have lagged,…
By Mathieu Rosemain AIX-EN-PROVENCE, France (Reuters) – French mining group Eramet is in talks with several European carmakers over commercial agreements that would help the company finance its lithium production project in Argentina, Chief Executive Officer Christel Bories said. The race for lithium, a key raw material used to make batteries for electric vehicles, is…
PARIS (Reuters) – French Finance Minister Bruno Le Maire on Sunday said he was “very hopeful” Tesla Chief Executive Elon Musk will pick France for a substantial investment linked to the production of electric vehicles in Europe. Musk recently met French government officials, including President Emmanuel Macron, as he explores options for future production sites….
AIX-EN-PROVENCE, France (Reuters) – France’s central bank head Francois Villeroy de Galhau pushed back on Sunday against a suggestion from some French economists to raise the European Central Bank’s (ECB) 2% inflation target. Villeroy, who sits on the ECB’s governing council, also said that its interest rate hikes were close to topping out and that…
BEIJING (Reuters) – China published regulations on Sunday for the country’s $2.9 trillion private investment fund sector, seeking to better protect investors and promote innovation. The new rules, signed by Premier Li Qiang and effective on Sept. 1, create a chapter specifically for venture capital funds, as policymakers encourage investment into innovative technology start-ups, said…
MEXICO CITY (Reuters) – Mexican oil company Pemex estimates that a deadly fire on a major offshore platform off the southern edge of the Gulf of Mexico has led to the loss of 700,000 barrels of crude oil production so far, while one person remains missing, the CEO of the state company, Octavio Romero, said…
By Mathieu Rosemain AIX-EN-PROVENCE, France (Reuters) – A “Chinese storm” is looming over Europe’s growing electric vehicle (EV) sector, Renault Chairman Jean-Dominique Senard told Reuters on Saturday, as Asia’s superpower dominates key raw materials to make batteries for zero emission cars. China’s recent decision to restrict exports of two metals – gallium and germanium –…
(Reuters) – Jack Sweeney, the creator of an account tracking Elon Musk’s private jet in real time, has moved to Mark Zuckerberg’s Twitter-rival Threads after being suspended from Twitter last year. “ElonJet has arrived to Threads!” read Sweeney’s first post on Thursday from the account handle @elonmusksjet, which had over 21,000 followers as of Saturday…
By Krystal Hu SAN FRANCISCO (Reuters) – Venture capital firm Headline used to be in one of San Francisco’s most eye-catching skyscrapers: the pyramidal Transamerica building that has defined the skyline for decades. Employees enjoyed the views from the 43rd floor and the convenience of being downtown. Then came the pandemic. As the tech industry…
