MILAN (Reuters) – Carmaker Stellantis and iPhone assembler Foxconn have created a 50-50 joint venture to design and sell semiconductors for the automotive industry from 2026. The joint venture, called SiliconAuto, will supply Stellantis, including its new ‘STLA Brain’ electronic and software architecture, Foxconn and other customers, the two companies said in a statement. “SiliconAuto…
(Reuters) – HSBC on Tuesday lowered China’s economic growth forecast for this year, citing drag from the property sector, and tempered business and household confidence. The global bank now forecasts China’s gross domestic product (GDP) to grow at 5.3% in 2023, from 6.3% expected earlier. Last week, brokerages including J.P. Morgan and BofA Global Research…
(Reuters) – Qantas and Airbus have finalised an incremental order for nine Airbus A220-300s aircraft, the companies said at the Le Bourget air show in Paris on Tuesday. Qantas had said it planned to order additional A220s in February this year. (Reporting by Pierre John Felcenloben in Gdansk; Editing by Milla Nissi)
BERLIN (Reuters) -German producer prices rose at their slowest pace in more than two years in May, according to data released on Tuesday, in a further sign inflation in Europe’s largest economy is easing. Producer prices of industrial products were up 1.0% compared with May 2022, the Federal Statistical Office reported. That is the smallest…
By Tim Hepher, Joanna Plucinska and Aditi Shah PARIS/DELHI (Reuters) -Europe’s Airbus secured a historic deal on Monday involving the most jets ever bought by a single airline, with an order for 500 narrowbody jets from Indian budget carrier IndiGo on the opening day of the Paris Airshow. The multibillion-dollar deal eclipses Air India’s combined…
By Kate Holton OXFORD, England (Reuters) – For Ros Deegan, the thrill of raising $100 million to expand a biotech firm among the dreaming spires of Oxford was soon tempered: unable to find a bigger laboratory, she routinely had to work at home. Not far away in the rival academic centre of Cambridge, biochemist Catherine…
By Gaurav Dogra and Patturaja Murugaboopathy (Reuters) – Asian bonds attracted their highest monthly foreign inflows in about two years in May, boosted by hopes of less aggressive monetary tightening measures from the U.S. Federal Reserve. Foreigners purchased a net $10.1 billion worth of bonds in India, Indonesia, Malaysia, South Korea and Thailand, marking their…
(Reuters) -European antitrust regulators are preparing to launch a formal investigation into software giant Adobe’s $20 billion buyout deal for cloud-based designer platform Figma later this year, the Financial Times reported on Tuesday. EU authorities plan to push forward with a detailed investigation, over anti-competition concerns, which could take many months and may ultimately derail…
By Sam Nussey TOKYO (Reuters) -SoftBank Group Chief Executive Masayoshi Son said on Tuesday he is a “heavy user” of ChatGPT, the artificial intelligence-powered chatbot from Microsoft backed startup OpenAI. “I am chatting with ChatGPT everyday – I am a heavy user,” Son told shareholders of the group’s telecoms subsidiary. Amid excitement over AI, Son…
By Leigh Thomas and Simon Jessop PARIS (Reuters) – French President Emmanuel Macron hosts a summit on Thursday and Friday to pin down a roadmap for easing the debt burdens of low-income countries while freeing up more funds for climate financing. The summit brings dozens of leaders together in the French capital to forge a…
