(Reuters) – BMW’s strong ties with China are a “win-win” as the car industry shifts towards greener, more connected vehicles, said CEO Oliver Zipse after Chinese Premier Li Qiang visited the German carmaker’s headquarters in Munich on Wednesday. Accompanied by a high-ranking delegation, Li met with Zipse and other company executives as part of a…
By Yoruk Bahceli and Dhara Ranasinghe LONDON (Reuters) – Investors on Wednesday ramped up bets on the Bank of England raising interest rates by a hefty half a percentage point on Thursday as inflation failed to fall in May, sending Britain’s two-year borrowing costs to a fresh 15-year. Inflation defied expectations that it would slow…
(This June 20 story has been corrected to change share repurchase figure to $2 billion, from $2 million, in paragraph 10) (Reuters) – FedEx, which is slashing costs to protect profits as demand wanes, said on Tuesday that ongoing “demand challenges” prompted its plans to ground 29 more aircraft in the fiscal year that started…
By Hyunjoo Jin and Shivangi Acharya SAN FRANCISCO/NEW DELHI (Reuters) -Tesla chief executive Elon Musk said India’s Prime Minister Narendra Modi was pushing the car maker to make a “significant investment” in the country, adding that such an announcement was expected soon. His comments came after a meeting with Modi on Tuesday during the Indian…
By John Irish, Elizabeth Pineau and Bate Felix PARIS/DAKAR (Reuters) – After armed men killed nine Chinese nationals at a gold mine in Central African Republic in March, a video circulated on the internet saying France had secretly ordered the attack and planned to discredit Russian mercenary group Wagner in the country. In the video,…
A look at the day ahead in U.S. and global markets from Mike Dolan The Fed chair has a tricky message to communicate. Jerome Powell’s testimony to Congress later on Wednesday will flesh out how the Federal Reserve chief rationalises last week’s pause in its 15-month rate hike campaign – even though the central bank…
By Davide Barbuscia NEW YORK (Reuters) – An expected surge in Treasury bill issuance could throw a wrench into the gears of hedge fund trades that have resulted in record short positions, potentially disrupting bond markets if speculators quickly unwind their holdings. In recent weeks, hedge funds have taken significant short leveraged positions in some…
TOKYO (Reuters) -Japanese automaker Mazda Motor and the energy unit of Panasonic Holdings will start talks to set up a battery supply partnership for electric vehicles (EVs), the companies said on Wednesday. Such an effort on lithium-ion batteries is likely to carry Mazda a step closer to ramping up production of EVs, in a 1.5-trillion-yen…
BERLIN (Reuters) -The German economy will contract more than previously expected this year as sticky inflation takes its toll on private consumption, the Ifo Institute said on Wednesday while presenting its forecasts. “The German economy is only very slowly working its way out of the recession,” Ifo’s head of economic forecasts, Timo Wollmershaeuser, said. German…
By Tom Käckenhoff DUESSELDORF (Reuters) – Thyssenkrupp should explore a sale of its warship division to peers, in addition to private equity players and a potential stock market listing, according to influential German labour union IG Metall. Leaders should “keep an eye on industrial investors”, IG Metall said in a union handout seen by Reuters,…
