By David Milliken LONDON (Reuters) -The Bank of England may have to keep interest rates high for an extended period if inflation pressures persist, and it was right to raise them by half a percentage point last month, the International Monetary Fund’s directors said on Tuesday. British inflation was the highest of any major economy…
By Yimou Lee, Ben Blanchard and Dhwani Pandya TAIPEI/MUMBAI (Reuters) – Foxconn said it intends to apply for incentives under India’s semiconductor production plan, a day after the Taiwanese firm split with Vedanta on a $19.5 billion chipmaking joint venture. Foxconn withdrew from the JV with the Indian metals-to-oil conglomerate on Monday, in a setback…
By Stephen Nellis SAN FRANCISCO (Reuters) – Applied Materials on Tuesday released its first major update to some of its core semiconductor manufacturing equipment in more than decade, aiming to boost the number of chips factories can make while using less energy. The new system, called Vistara, is a central hub inside chip factories that…
By Elisha Bala-Gbogbo ABUJA (Reuters) -Global demand for all forms of energy is forecast to rise by 23% through 2045, OPEC Secretary General Haitham Al Ghais told a Nigerian oil and gas conference on Tuesday. Oil executives and officials from the Organization of the Petroleum Exporting Countries (OPEC) have repeatedly made the case for continued…
PARIS (Reuters) – Companies in most countries have enough profit to be able to absorb an increase in wages needed for staff to cope with high inflation, the Organisation for Economic Cooperation and Development said on Tuesday. Although labour markets are tight, employers have not raised wages in pace with inflation in 31 out of…
By Ludwig Burger FRANKFURT (Reuters) – China’s planned export controls on gallium have caused frantic stockpiling of speciality semiconductor wafers made from the metal, according to the world’s largest gallium buyer. Freiberger Compound Materials relies almost entirely on Chinese suppliers for its gallium needs to make wafers that go into mobile phone radio signal amplifiers…
A look at the day ahead in U.S. and global markets from Mike Dolan A volte face in Treasury yields has improved investors’ mood considerably this week as excitement about U.S. disinflation builds despite conflicting signals from around the world. After bumpy start to the third quarter, stocks and bonds rallied together on Monday –…
By William Schomberg LONDON (Reuters) -A key measure of British wages rose at the joint fastest pace on record but official data also showed signs that the inflationary heat in the labour market is cooling, offering the prospect of relief for the Bank of England. Sterling edged up but yields on two-year British government bonds,…
(Reuters) -China’s Geely Automobile Holdings and French car maker Renault SA on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at…
By Suban Abdulla LONDON (Reuters) -A key British mortgage rate hit a 15-year high on Tuesday when it rose above the levels reached in the aftermath of September’s “mini-budget” crisis, adding to strains on the country’s slowing housing market as the Bank of England battles stubborn inflation. The average two-year fixed residential mortgage rate climbed…
