By Jörn Poltz (Reuters) – Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a Munich court on Tuesday for fraud in the 2015 diesel scandal, becoming the first former Volkswagen board member to receive such a sentence. The ex-boss was fined 1.1 million euros ($1.20 million),…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan (BOJ) is likely to move steadily towards phasing out its massive stimulus and may tweak yield curve control as early as October, said former central bank policymaker Makoto Sakurai. While the central bank is likely to revise up this fiscal year’s growth and inflation forecasts…
MADRID (Reuters) -Spain will reimburse up to 15% of income tax to people who buy an electric vehicle (EV) before the end of the year to encourage cleaner driving, Economy Minister Nadia Calvino said on Tuesday. The initiative is part of an anti-inflation package worth 8.9 billion euros ($9.7 billion) in which other measures already…
By Chijioke Ohuocha and Elisha Bala-Gbogbo ABUJA (Reuters) -Nigeria could save up to 3.9 trillion naira ($5.10 billion) this year alone after reforms to its foreign exchange market and the removal of a petrol subsidy, the World Bank said on Tuesday, but warned of growing inflationary pressures in the short term. Nigerian President Bola Tinubu…
By Swati Bhat MUMBAI (Reuters) -India’s current account deficit narrowed sharply in the January to March quarter, helped by a smaller trade gap and increased services exports, the Reserve Bank of India (RBI) said on Wednesday. The current account deficit (CAD) stood at $1.3 billion, or 0.2% of gross domestic product (GDP), in the fourth…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Global central banks experienced losses managing their reserves last year amid bond-heavy allocations that took a major hit in 2022 following aggressive monetary policy tightening around the world, according to the latest survey by a think tank group. About 40% of reserve managers surveyed said it will take…
STOCKHOLM (Reuters) – Sweden’s central bank will hike its policy rate by a quarter percentage point this week in a bid to bring down inflation further, but that is likely to be the end of the rate-hiking cycle, a poll by Reuters showed on Tuesday. Central banks around the globe have jacked up interest rates…
LONDON (Reuters) – Wall Street bank JPMorgan said on Tuesday it was staying “bearish” on China’s yuan despite its recent slide and that the country’s central bank could look to step in to prevent the move accelerating. “As spot currency weakness and depreciation expectations tend to be self-reinforcing, the People’s Bank of China might find…
MILAN (Reuters) – Stellantis launched a ‘Charging & Energy’ business unit on Tuesday to make it easier to keep electric vehicles on the road and cash in on an expanding range of services around greener mobility. The unit will offer a platform called Free2move Charge providing customer services including access to over 500,000 charging points…
By Tristan Veyet and Gaelle Sheehan (Reuters) -Accor plans to open more than 1,200 hotels in the next five years, increasing the number of its resorts by more than one-fifth, it said on Tuesday, the latest sign the industry is betting on strong travel demand long-term following the pandemic. Europe’s biggest hotel group also said…
