By Gilles Guillaume and Elizabeth Pineau PARIS (Reuters) -France beat competition from Germany and the Netherlands for ProLogium’s first overseas car battery plant thanks to lobbying from President Emmanuel Macron, deal sweeteners and competitive power prices, executives from the Taiwanese company said. After narrowing a list of countries from 13 to three, ProLogium said it…
By David Randall NEW YORK (Reuters) – Soros Fund Management, the family office of billionaire George Soros, slashed its stakes in electric vehicle makers Tesla Inc and Rivian Automotive in the first quarter, and added Netflix Inc shares, filings released Friday showed. Soros purchased shares of Tesla and electric truck startup Rivian in 2022 and…
By Andrea Shalal NIIGATA, Japan (Reuters) -The risk of a U.S. payments default is adding to problems facing a slowing global economy, with rising interest rates and high debt levels already choking back investments needed to fuel greater output, World Bank President David Malpass said on Friday. Group of Seven (G7) finance officials meeting in…
By Herbert Lash NEW YORK (Reuters) -The dollar rose on Friday but a gauge of global stocks retreated on a report that showed U.S. consumer sentiment slumped to a six-month low in May, reinforcing bearish investor sentiment over talks to raise the U.S. government’s debt ceiling. The dollar strengthened against the euro, yen and other…
(Reuters) – Deposits at U.S. banks climbed in early May, ticking up from the lowest level in nearly two years while bank lending was little changed at a record level, Federal Reserve data released on Friday showed. Deposits climbed to $17.16 trillion in the week ended May 3, up about $67 billion to mark the…
By Richard Cowan WASHINGTON (Reuters) – The Washington standoff over raising the U.S. government’s $31.4 trillion borrowing limit is adding to global economic worries, as a new non-partisan congressional report cited “significant risk” of a historic default within the first two weeks of June. The U.S. Congressional Budget Office report, issued Friday morning, confirms Treasury…
(Reuters) -Shares of major U.S. regional lenders edged higher on Friday, reversing early losses in skittish trading as investors bought some battered stocks but remained uncertain about the financial stability of mid-sized banks. Western Alliance rose 2.1%, Synovus Financial gained 2.2%, and Truist Financial added 1.8%. The KBW Regional Banking index, which has fallen nearly…
(Reuters) -Binance said on Friday it was withdrawing from Canada, weeks after the country issued a series of new guidelines for cryptocurrency exchanges including investor limits and mandatory registrations. Canada has tightened regulations for crypto asset trading platforms in recent months, with the introduction of a pre-registration process. The companies that do not adhere to…
NEW YORK (Reuters) – The Credit Derivatives Determinations Committee (DC) accepted on Friday to look into a question on whether a “governmental intervention credit event” occurred with respect to Credit Suisse. The DC overlooking Europe will have to determine specifics of the subordination of Credit Suisse’s additional tier-1 (AT1) bonds, according to the DC website….
By Miguel Lo Bianco and Hernan Nessi BUENOS AIRES (Reuters) -Argentina’s annual inflation rate soared to 109% in April, the country’s statistics agency said on Friday, smashing past analyst forecasts and stoking anger among hard-hit consumers who are increasingly having to skimp and save to get by. The South American nation, an important grains exporter…
