WINTERTHUR, Switzerland (Reuters) -Swiss inflation may be low compared to other countries but is still too high, Swiss National Bank Vice Chairman Martin Schlegel said on Wednesday, hinting at possible further interest rates ahead. “It is clearly above the level we associate with price stability,” Schlegel told an event in Winterthur. “We cannot rule out…
By Foo Yun Chee BRUSSELS (Reuters) – Forty-two German associations and trade unions representing more than 140,000 authors and performers on Wednesday urged the European Union to beef up draft artificial intelligence rules as they singled out the threat to their copyright from ChatGPT. Trade unions for the creative sector Verdi and DGB and associations…
SAO PAULO (Reuters) -Toyota Motor Corp said on Wednesday it will invest 1.7 billion reais ($337.68 million) to manufacture a new hybrid, flex-fuel compact car in Brazil, which will run on both gasoline and ethanol in addition to its electric engine. The Japanese carmaker has been betting big on the segment in the South American…
(Reuters) -Costs in Russia’s manufacturing sector rose for the second month running in March, data from the state statistics service Rosstat showed on Wednesday, driven by a sharp jump in the cost of mining, extraction and some petroleum product production. The producer prices index (PPI), a measure of costs in the manufacturing sector, increased 0.9%…
By Andy Bruce LONDON (Reuters) – Britain’s unwanted status as the only large advanced economy still to have double-digit inflation represents just one symptom of the serious economic malaise faced by the country. Annual consumer price inflation (CPI) in Britain fell to 10.1% last month but defied forecasts for a bigger drop from February’s 10.4%,…
By Norihiko Shirouzu and Joseph White SAN ANTONIO, Texas (Reuters) – At Toyota Motor Corp’s sprawling factory here, just 16 miles (26 km) from the Alamo, a new gasoline-fueled Tundra pickup truck or hybrid Sequoia SUV rolls off the assembly line every 60 seconds. “We can’t produce enough of the Sequoias and Tundras today,” said…
(Reuters) – Stellantis will recall 131,700 Ram 1500 pickup trucks manufactured in 2021 due to a powertrain software issue, the National Highway Traffic Safety Administration’s (NHTSA) website showed on Wednesday. The issue may cause the pickup trucks with 5.7L eTorque engines to stall due to an incorrect fuel mixture condition, according to the NHTSA. “The…
By Nivedita Balu and Tiyashi Datta (Reuters) – Netflix Inc’s shares fell nearly 3% on Wednesday after the streaming pioneer forecast current-quarter revenue and profit below Wall Street estimates, hit by a delay in the wider roll-out of its solution to password sharing. The company will now launch paid sharing widely, including in the U.S.,…
By Casey Hall SHANGHAI (Reuters) – At the Shanghai auto show this week, the largest crowds can be found around an unassuming, bright yellow hatchback parked at the booth of China’s largest electric carmaker BYD. Dubbed the “Seagull”, BYD’s latest electric vehicle (EV) made its debut at the event this week, stunning visitors not so…
By Fergal Smith TORONTO (Reuters) -Canadian housing starts fell more than expected in March, contributing to a slower trend in recent months that follows a rapid increase in borrowing costs, data from the national housing agency showed on Wednesday. The seasonally adjusted annualized rate (SAAR) of housing starts fell 11% to 213,865 units from a…
