By Shreyashi Sanyal (Reuters) -European shares slumped to their lowest level in three months on Thursday, as heightened concerns about further interest rate hikes globally dented risk sentiment, while shares of Embracer group slid after a discounted share issue. The pan-European STOXX 600 index deepened losses by the close to fall 2.3% to its lowest…
By Joice Alves LONDON (Reuters) – A lack of clarity on Beijing’s planned stimulus measures will mean a mixed appetite for European stocks over the rest of 2023, investors say, with China the EU’s third biggest export market. From high-end cars to luxury watches, Europe’s consumer discretionary and staples, technology, industrials and materials sectors all…
By Medha Singh (Reuters) -Retail traders raised their exposure to U.S. stocks in June encouraged by healthy returns, with their focus shifting to electric-vehicle firms from artificial intelligence stocks earlier in the year. They poured in $1.4 billion per day on average in U.S. equities in the month, closing in the all-time record of $1.5…
(Reuters) – Alphabet Inc’s Google has delayed the release of a fully custom chip for its Pixel smartphones until 2025, The Information reported on Thursday, citing two people familiar with the matter. Google originally planned to release the chip, internally called Redondo, next year to replace the semicustom chips it currently designs with Samsung Electronics,…
(Reuters) – Automaker Stellantis N.V. and Canada-based miner NioCorp Developments Ltd on Thursday signed an offtake term sheet with the objective of establishing a supply deal for rare earth minerals critical to electrical vehicles. The preliminary agreement establishes a 10-year offtake contract for minerals like neodymium-praseodymium oxide, dysprosium oxide, and terbium oxide that NioCorp aims…
By David Shepardson WASHINGTON (Reuters) -General Motors said on Wednesday it could face compliance challenges under the Environmental Protection Agency’s proposed vehicle emissions rules and other state and federal regulations, as it cited requirements on electric vehicles. The largest U.S. automaker said in comments submitted to the EPA that there are six state and federal…
By Howard Schneider WASHINGTON (Reuters) – New data from the New York Federal Reserve shows underlying inflation may have slowed faster than the headline measures that have kept U.S. central bank officials poised for further interest rate increases. In a research series that is now due for monthly release, the New York Fed’s so-called “multivariate…
(Reuters) -Ford Motor Co on Thursday followed rivals in reporting a rise in second-quarter U.S. auto sales, driven by easing supply chain snags and pent-up demand for personal transportation. The U.S. automaker’s quarterly sales rose about 10% to 531,662 vehicles, the company said. Automakers are rushing to make up for the lost production during the…
LONDON (Reuters) – Meta, the company behind social media giants Facebook and Instagram, has launched its new microblogging platform Threads. WHAT IS THREADS? The new app bears a striking resemblance to Twitter, allowing users to post text, images, or videos, as well as like, share, or repost content. Threads accounts are synched to Instagram at…
MILAN (Reuters) – Generali has agreed to buy Connecticut-based asset manager Conning Holdings as part of a partnership with Cathay Life, a unit of Taiwan’s Cathay Financial Holding, the Italian insurer said on Thursday. The deal, structured as an exchange of assets without a cash consideration, realises Generali CEO Philippe Donnet’s ambition of expanding into…
