SEOUL (Reuters) – Tesla began selling its Model Y rear-wheel drive car on Friday in South Korea at a price of 56.99 million won ($45,139), the automaker’ s website said, making the vehicles eligible for the maximum rate of government subsidies. The car, which boasts a driving range of 350 kilometres (217.48 miles) and has…
(Reuters) -Hong Kong’s Cathay Pacific Airways said on Friday it expects to record a profit of up to HK$4.5 billion ($576 million) in the first half of the year as travel demand skyrockets after border reopenings. Cathay Pacific booked record losses in the last three years as it parked much of its fleet during the…
By Xie Yu and Julie Zhu HONG KONG (Reuters) – China’s financial regulators have invited some of the world’s biggest investors to a rare symposium next week, three sources said, seeking to encourage foreigners to keep investing in the world’s second-largest economy despite its recent weakness and rising geopolitical tensions. The meeting in Beijing next…
By Kevin Yao BEIJING (Reuters) -China’s central bank will use policy tools such as the reserve requirement ratio (RRR) and medium-term lending facility to weather the challenges facing the world’s second-largest economy, a senior bank official said on Friday. Momentum in China’s post-pandemic recovery has slowed sharply after a brisk pickup in the first quarter,…
By Lewis Jackson, Stella Qiu and Wayne Cole SYDNEY (Reuters) – Reserve Bank Deputy Governor Michele Bullock will take over from Governor Philip Lowe in September and has already flagged that leading the country’s central bank through a period of change will be a major priority. Bullock, the first woman to helm the country’s central…
By Elisa Anzolin MILAN (Reuters) – Italy’s luxury fashion groups, which for decades jealously guarded their independence, have started teaming up to protect their supply chains and the Italian roots of smaller companies, showing a new spirit of collaboration. Control of the supply chain has become increasingly important for luxury brands, ensuring products get to…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan is caught in a dilemma with growing prospects of sustained inflation heightening the case for an early tweak to its yield control policy, despite Governor Kazuo Ueda’s reassurances he would “patiently” maintain massive stimulus. The first test will come at the central bank’s policy meeting…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Cooling U.S. inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit. The dollar is down nearly 13% against a basket of currencies from last year’s two-decade high and stands at its lowest level in 15 months. Its decline quickened…
By Maggie Fick LONDON (Reuters) – Soaring U.S. demand for Novo Nordisk’s weight-loss drug has reduced the pressure from investors on the company to deliver strong results in its trial to test whether the drug also has medical benefits, eight investors and analysts say. Novo is expected to publish in August the results of a…
A look at the day ahead in European and global markets from Sonali Desai Thursday’s Goldilocks blend of cooling U.S. inflation and a still toasty jobs market continues to cast a glow across markets, with stocks in Asia extending a rally while lower global yields spur a further unwinding of yen carry trades. MSCI’s broadest…
