SHANGHAI (Reuters) – Chinese battery maker CATL said on Thursday it has developed new materials for lithium-ion batteries that would sharply improve charging efficiency for electric vehicles, especially in extreme cold. Wu Kai, CATL’s chief scientist, told a forum in Shanghai that the company, the world’s largest battery supplier, had developed new electrolyte materials that…
By Foo Yun Chee BRUSSELS (Reuters) -The metaverse, shared virtual worlds accessible through the internet, has not triggered any concerns so far or the need for legislation to rein it in, EU antitrust chief Margrethe Vestager said on Thursday. An initiative that she will present on the metaverse next week aims to help competition regulators…
WASHINGTON (Reuters) – U.S. private payrolls increased more than expected in June, indicating that the labor market remains strong despite growing risks of a recession from higher interest rates. Private payrolls jumped by 497,000 jobs last month, the ADP National Employment report showed on Thursday. Data for May was revised lower to show 267,000 jobs…
MILAN (Reuters) – Details of how billionaire Italian tycoon Silvio Berlusconi divided up his assets have been made public on Thursday after the will of the former prime minister, who died on June 12, was unsealed. Under Italian law, the deceased’s heirs have a right to inherit two-thirds of his wealth in equal parts, while…
By Amruta Khandekar and Siddarth S (Reuters) – Foreign hedge funds have been lapping up Argentinian equities at cheap valuations in anticipation of a change in political regime and given sky-high inflation, pushing the country’s benchmark stock index to a record high. Argentina’s S&P MerVal index has more than doubled in the first six months…
By Gabriel Burin BUENOS AIRES (Reuters) – Brazil’s currency will likely enjoy some support in the near term from faster economic growth and progress on reforms, despite the prospect of less favorable interest rate spreads ahead, a Reuters poll showed. The real appreciated last month to its firmest level in a year after several forecasts…
LOS ANGELES (Reuters) – Longtime Showtime Networks executive David Nevins has been named chief executive of the North Road Company, an independent studio founded by Hollywood veteran Peter Chernin, who announced the appointment on Thursday. Nevins will oversee North Road’s portfolio of scripted and unscripted content and documentaries, and also look to make acquisitions. Chernin…
SHANGHAI (Reuters) – Ultra low-cost e-commerce platform Temu, owned by PDD Holdings, has started selling to Japan, marking its first foray into the Asian market. The marketplace, the sister site of Chinese discount e-commerce platform Pinduoduo, ships everything from clothing to electronics and home goods, mainly from Chinese merchants to customers overseas at rock bottom prices….
BERLIN (Reuters) – Mercedes-Benz wants to extend Chief Executive Ola Kallenius’ contract, keeping the 54-year-old at the helm of the German carmaker until at least mid-2029, German daily Handelsblatt reported on Thursday, citing supervisory board sources. The board is aiming to extend Kallenius’ contract, which will expire in May 2024, this summer, the daily reported….
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) -Sri Lanka cut its key interest rates for the second straight month on Thursday as inflation eased after last year’s devastating economic crisis and the focus returned to reviving growth following a bailout from the International Monetary Fund (IMF). The Central Bank of Sri Lanka (CBSL) cut…
