By Lucy Raitano LONDON (Reuters) – Investors globally ploughed more money into cash funds in the week to Wednesday, with total cash assets under management reaching a “monster” $7.8 trillion, according to a report from Bank of America (BofA) Global Research. Inflows into cash funds totaled $29 billion in the week to Wednesday, while global…
(Reuters) – Decades-high inflation and the impact of war in Ukraine have forced companies across Europe into lay-offs or hiring freezes. Here are some of the companies that have announced cuts since January: AUTOS * AUTOLIV: the Swedish airbag and seatbelt maker said on June 8 it plans to cut around 8,000 jobs, which equates…
(Reuters) – Fisker missed its production target for the second quarter due to shortage of components, the electric vehicle startup disclosed on Friday, sending its shares down 2% in premarket trading. The California-based company produced 1,022 units of its Ocean SUV in the quarter ended June, lower than 1,400-1,700 vehicles it had projected. “A few…
BEIJING (Reuters) – China has announced export restrictions to take effect from Aug. 1 on some gallium and germanium products, metals used in computer chips and other products, citing national security interests. China produces around 60% of the world’s germanium, or 180 metric tons in 2022, and over 90% of the world’s gallium, about 606…
By Tom Wilson and Jaiveer Shekhawat (Reuters) -A string of executives have quit Binance, according to their tweets and media reports, the latest blow for the world’s biggest crypto exchange as its battles a slate of legal and regulatory headaches. Chief Strategy Officer Patrick Hillmann said in a tweet on Thursday that he was leaving…
By Josh Ye and David Kirton HONG KONG (Reuters) -Alibaba Group Holdings and Huawei Technologies Co on Friday showcased new products, including an artificial intelligence (AI) image generator and an AI model upgrade, as Chinese companies jostle for position in the global AI race. Alibaba Cloud, an Alibaba subsidiary, presented at the World Artificial Intelligence…
A look at the day ahead in U.S. and global markets from Mike Dolan The seeming serenity of June markets has finally been broken by summer storms as a blistering selloff in bonds snowballed following news of buoyant U.S. job creation last month that stiffens expectations for more interest rate rises. A trio of U.S….
By Karl Plume CHICAGO (Reuters) – U.S. corn export dominance is fading in an increasingly competitive global marketplace as Brazil, aided by a new supply agreement with China, is set to out-ship the U.S. for just the second time ever this season. Meanwhile, Mexico, America’s other top market, is preparing to limit imports of genetically…
BEIJING (Reuters) – China’s President Xi Jinping, on an inspection tour of a major industrial province, renewed his call for greater innovation and technological self-reliance, as the United States intensifies curbs on Chinese access to advanced technologies. China should accelerate the upgrades of key technologies and core products, state-run Xinhua news agency reported on Friday,…
By Jody Godoy (Reuters) -Twitter has threatened to sue Meta Platforms over its new Threads platform in a letter sent to the Facebook parent’s CEO Mark Zuckerberg by Twitter’s lawyer Alex Spiro. Meta, which launched Threads on Wednesday and has logged more than 30 million sign ups, looks to take on Elon Musk’s Twitter by…
