By Ahmad Ghaddar, Alex Lawler and Shadia Nasralla VIENNA (Reuters) – Russia-Saudi oil cooperation is still going strong as part of the OPEC+ alliance, which will do “whatever necessary” to support the market, Saudi Energy Minister Prince Abdulaziz bin Salman told a conference on Wednesday. OPEC+, a group comprising the Organization of the Petroleum Exporting…
(Reuters) – Toyota Motor North America, a unit of Toyota Motor Corp reported a rise in U.S. auto sales for June as demand for personal transport remains strong despite high interest rates. The company sold 195,448 vehicles in the U.S. for the month of June, up 14.9% on a volume and daily selling rate basis…
WASHINGTON(Reuters) – New orders for U.S.-made goods increased less than expected in May as a surge in civilian aircraft orders was partially offset by sluggishness elsewhere amid higher interest rates that are eroding demand. Factory orders rose 0.3% after advancing by the same margin in April, the Commerce Department said on Wednesday. Economists polled by…
SHANGHAI (Reuters) -Chinese electric-vehicle maker Xpeng forecast sharp growth in deliveries in the second half of the year thanks to its new model that is taking on Tesla with competitive prices and smart-driving technologies. Xpeng has received a “significant” amount of orders for its newly launched G6 pure electric crossover, president Brain Gu told reporters…
(Reuters) -Nikola said on Wednesday that wholesale and retail sales of its electric vehicles jumped in the second quarter from the first, a positive sign for the startup that has been grappling with a cash crunch and stiff competition. The company said retail sales of its trucks doubled to 66 in the quarter, while wholesale…
(Reuters) – Morgan Stanley on Wednesday lowered its oil price forecasts, predicting a market surplus in the first half of 2024 with non-OPEC supply growing faster than demand next year. The Wall Street bank cut its Brent price outlook for the third quarter this year to $75 from $77.50 per barrel and lowered its fourth…
BENGALURU (Reuters) – The Reserve Bank of India (RBI) on Wednesday asked banks and non-bank lenders to issue credit, debit and prepaid cards on multiple networks to give customers the freedom to choose. “On a review, it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The endowments of New York City’s pricey private schools are flourishing thanks to a steady inflow of contributions from wealthy donors and the boost to portfolios from the rising U.S. stock market. The tuition to attend private day schools in New York City can range from $58,000 to…
By Karen Lema and Enrico Dela Cruz MANILA (Reuters) -Philippine annual inflation eased for a fifth straight month in June, supporting expectations the central bank will keep rates unchanged for longer as food and transport cost pressures ease. The consumer price index rose 5.4% in June, the statistics agency said on Wednesday, its slowest pace…
BERLIN (Reuters) – German Chancellor Olaf Scholz said on Wednesday that he knew of further plans for large investments in chip production in Germany, a welcome trend as Europe looks to reduce its reliance on China when it comes to strategically important industries. “I know of other plans by German companies and many others,” Scholz…
