(Reuters) -Euro zone bank lending slowed in May as a record series of European Central Bank rate hikes work their way through the financial sector, though the data is unlikely to dissuade policymakers from further tightening. The ECB has been raising interest rates at the fastest pace on record over the past year to combat…
By Josh Ye HONG KONG (Reuters) – Chinese tech giants Tencent Holdings and Ant Group said that they would allow users to link international credit cards to their platforms, an issue that has long plagued foreign visitors as the country’s payment system has kept credit cards out for years. Tencent, operator of the popular chat…
By Angelo Amante and Gavin Jones ROME (Reuters) -Italian Prime Minister Giorgia Meloni on Wednesday criticised the European Central Bank over repeated interest rate hikes, saying it was following a “simplistic” policy approach that could do more harm than good. The ECB raised euro zone interest rates to their highest level in 22 years this…
By Yantoultra Ngui and Phuong Nguyen SINGAPORE/HANOI (Reuters) – Vietnamese conglomerate Truong Hai Group, founded by tycoon Tran Ba Duong, is considering bringing in an investor into its automobiles arm Thaco Auto in a deal that could value the unit at around $5 billion, two people familiar with the matter said. Truong Hai Group is…
TOKYO (Reuters) – Nissan Motor Co has decided to not fill in the chief operating officer position vacated by Ashwani Gupta under a new management structure, the Japanese automaker said on Wednesday. Responsibilities previously carried out by the operations chief will be taken over by other executives, it said. Hideyuki Sakamoto, executive vice president in…
SHANGHAI (Reuters) – Tesla is set to hit another record quarter with its China sales while it faces mounting pressure from local competitors such as BYD eating into its share in the world’s largest auto market, analysts say. The U.S. automaker could sell 155,000 cars in China during April to June, an increase of 13%…
A look at the day ahead in European and global markets from Wayne Cole. The People’s Bank of China seems to like being enigmatic, throwing the market a curve ball as it fixed the yuan weaker against the dollar than many expected. Dealers had thought the firmer fix on Tuesday meant Beijing was signalling it…
(Reuters) – Small pickups fell short of the standards expected in protecting the passengers on the rear seat of the vehicle, tests conducted by Insurance Institute for Highway Safety (IIHS) showed. In the crash test conducted, the passenger dummy on the rear seat came dangerously close to the front seat back, recording a risk of…
(Reuters) -Alphabet-owned Google on Tuesday said it is cutting jobs at mapping app Waze as it merges the app’s advertising system with Google Ads technology, without giving details on the number of layoffs. “In order to create a better, more seamless long-term experience for Waze advertisers, we’ve begun transitioning Waze’s existing advertising system to Google…
LONDON (Reuters) – British shop price inflation slowed this month, offering a bit of respite for households hit by a surge in the cost of living and higher borrowing costs, a survey showed on Tuesday. The British Retail Consortium said prices in supermarkets and retail chains rose by 8.4% in June compared with the same…
