PARIS (Reuters) – MG Motor, owned by Chinese company SAIC Motor, on Friday announced a new leasing offer whereby drivers in France can get for 99 euros ($107.6) a month its MG4 electric car, matching a scheme the French government would like to see benefiting cars made in Europe. The offer runs from July 1…
By David Milliken and Andy Bruce LONDON (Reuters) -Britain’s economy made a lacklustre start to 2023 as inflation ate into households’ disposable income, official figures showed on Friday, and economists expect higher interest rates to keep up the pain even as inflation eases. Friday’s figures showed no change to the Office for National Statistics’ (ONS)…
SHANGHAI/BEIJING (Reuters) – China’s central bank has surveyed some foreign banks in the past week about the interest rates they offer to their clients for dollar deposits, people familiar with the matter said, as authorities step up efforts to slow the yuan’s depreciation. The central bank also guided one commercial lender to lower such rates,…
By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON/NEW YORK/HONG KONG (Reuters) -For hedge funds, the second half of 2023 is all about pouncing on the ways in which inflation, aggressive rate hikes and decarbonisation are shaping the economy. Major central banks have collectively raised rates by more than 3,750 basis points since September 2021,…
(Reuters) – German retail sales rose more than expected in May from the previous month, data showed on Friday, though analysts said the surprise rise does not indicate a change in depressed spending. The Federal Statistics Office said retail sales were up 0.4% month-on-month in real terms, beating expectations by analysts polled by Reuters that…
By Kirsty Needham SYDNEY (Reuters) – Australian and European Union trade ministers spoke on Thursday evening, a source familiar with the matter told Reuters, as optimism builds that sticking points over a free trade agreement (FTA) can be overcome with more negotiation. A trade deal with the EU, a market of around 450 million consumers,…
By Marc Jones LONDON (Reuters) – The first six months of 2023 have been eventful for financial markets – from an artificial intelligence (AI) inspired tech stock surge, commodity market capitulations, cryptocurrency comebacks to the worst banking crash since Lehman Brothers. Linking it all has been the relentless rise in interest rates, which was exactly…
By Joe Cash BEIJING (Reuters) -China’s factory activity declined for a third straight month in June and weakness in other sectors deepened, official surveys showed on Friday, adding pressure for authorities to do more to shore up growth as demand falters at home and abroad. The world’s second-largest economy grew faster than expected in the…
By Jose Luis Gonzalez and Steve Gorman TRUTH OR CONSEQUENCES, New Mexico (Reuters) -A three-man crew from Italy soared more than 50 miles (80 km) above the New Mexico desert on Thursday aboard a Virgin Galactic rocket plane, the company’s first flight of paying customers to the edge of space since British billionaire Richard Branson…
(Reuters) -U.S.-China tensions over semiconductors began with the Trump administration’s trade war and have ratcheted up under President Joe Biden’s leadership as Washington looks to undercut Beijing’s efforts to build its high-tech industry. The U.S. and the Netherlands are set to deliver a one-two punch to China’s chipmakers by further curbing sales of chipmaking equipment,…
