MILAN (Reuters) – Stellantis will build the new Jeep Compass, one of the carmaker’s bestsellers in Europe, as the fifth model for its Melfi plant in southern Italy, two sources close to the matter told Reuters on Thursday. The new model will be a development from the Compass SUV the Franco-Italian group currently produces in…
By Andy Bruce and William Schomberg LONDON (Reuters) -Britain’s economy shrank by less than expected in May despite a bank holiday to mark King Charles’ coronation and strikes, suggesting a widely forecast recession caused by high inflation and surging interest rates was not already under way. Economic output fell 0.1% in May from April, the…
(Reuters) – Chindata Group Holdings said on Thursday Bain Capital, its largest shareholder, did not intend to sell any of its shares in the Chinese data center operator after a rival bid from China Merchants Capital (CMC). The unit of state-owned conglomerate China Merchants Group offered to acquire Chindata Group for $9.2 per American Depositary…
By John McCrank and Michelle Price WASHINGTON (Reuters) – Partnering with Coinbase Global may hinder rather than help Nasdaq’s bid to win regulatory approval for a bitcoin exchange-traded-fund it wants to launch with BlackRock. Nasdaq last month filed a proposal with the U.S. Securities and Exchange Commission (SEC) to launch an ETF by BlackRock that…
A look at the day ahead in U.S. and global markets from Mike Dolan Surprise news of a 2%-plus print on U.S. headline inflation rate for June has world markets betting the peak of the Federal Reserve’s interest rate campaign will now be this month. Although rounded up to 3.0% for official purposes, the annual…
By Giuseppe Fonte ROME (Reuters) – Italy is looking to boost the ability of listed companies to issue shares with enhanced voting rights, a Treasury official said on Thursday, as part of efforts to stop a steady flight of businesses from Milan to the Netherlands. Such an option, however, will be considered as long as…
BENGALURU (Reuters) -Tesla is discussing an investment proposal with the Indian government to set up a factory with an annual capacity to produce about half a million electric vehicles, the Times of India reported on Thursday, citing government sources. The company, led by billionaire Elon Musk, is also looking at using India as an export…
By Joe Cash and Ellen Zhang BEIJING (Reuters) -China’s exports fell last month at their fastest pace since the onset three years ago of the COVID-19 pandemic, as an ailing global economy puts mounting pressure on Chinese policymakers for fresh stimulus measures. Momentum in China’s post-COVID recovery has slowed after a brisk pickup in the…
By Kanishka Singh and Anna Tong WASHINGTON (Reuters) -Billionaire Elon Musk said on Wednesday he thinks China is interested in a cooperative international framework on artificial intelligence, from conversations he had when he visited a few weeks ago. Musk made the remarks in a Twitter Space event with two U.S. congressmen, Democrat Ro Khanna and…
By Shivangi Acharya and Sarita Chaganti Singh NEW DELHI (Reuters) – Global finance chiefs will meet in India next week to discuss increasing loans to developing nations from multilateral institutions, reforming the international debt architecture and regulations on cryptocurrency, Indian officials said. The finance ministers and central bank governors from the Group of 20 (G20)…
