(Reuters) -Taiwan Semiconductor Manufacturing Co is in talks with partners to invest as much as 10 billion euros ($11.04 billion) to build a chip fabrication plant in Germany, Bloomberg News reported on Wednesday, citing people familiar with the matter. The venture between TSMC, NXP Semiconductors NV, Robert Bosch GmbH and Infineon Technologies AG will have…
WASHINGTON (Reuters) – The U.S. Treasury’s estimate that it could run short of cash to satisfy all U.S. payment obligations as early as June 1 is its “best estimate” based on recent tax receipts, Treasury Assistant Secretary for Financial Markets Joshua Frost said on Wednesday. He told a news conference after Treasury’s quarterly refunding announcement:…
WASHINGTON (Reuters) – The U.S. services sector maintained a steady pace of growth in April as new orders increased amid a surge in exports, but businesses continued to face higher prices for inputs, indicating that inflation could remain elevated for some time. The Institute for Supply Management (ISM) said on Wednesday that its non-manufacturing PMI…
By Rachna Uppal DUBAI (Reuters) – Government-led reforms and the growth of private investment in new sectors will help support non-oil economic growth in Saudi Arabia amid an expected sharp slowdown in overall growth this year, a senior IMF official said. The Saudi economy grew 8.7% last year, as high oil prices boosted revenue and…
By Jörn Poltz MUNICH (Reuters) – Former Audi boss Rupert Stadler is ready to make a confession about his role in the diesel emissions scandal in exchange for a suspended sentence and a payment of 1.1 million euros ($1.21 million), he and his defence team said on Wednesday. The former CEO has been on trial…
By Pablo Mayo Cerqueiro LONDON (Reuters) -Shares in Italian gambling firm Lottomatica fell on their first day of trading on the Milan stock exchange on Wednesday, following Europe’s largest initial public offering (IPO) this year. Shares opened at 8.50 euros ($9.38), down from the IPO price of 9 euros, and were changing hands at around…
By Noel Randewich (Reuters) -While Wall Street frets that the Federal Reserve’s aggressive interest rate hikes will tip the U.S. economy into a recession, discussions on recent quarterly conference calls hint that corporations and analysts have become a bit less concerned. Terms related to an economic downturn have been uttered less on quarterly earnings calls…
By Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen will travel to Niigata, Japan next week to participate in the Group of Seven (G7) finance ministers and central bank governors meeting, the Treasury Department said on Wednesday. Treasury said Yellen would work with G7 partners to strengthen the global economy, including by coordinating…
By David Milliken LONDON (Reuters) – Cucumbers, olive oil and cheese topped Britain’s inflation chart in March, while traditional fish and chips saw the biggest price rise for diners, according to a new price comparison tool released by the country’s statistics office on Wednesday. The cost of a cucumber was up a cool 52% in…
By Tanvi Mehta and Chris Thomas NEW DELHI (Reuters) – India’s Wadia Group, the owner of cash-strapped Go Airlines (India) Ltd, is completely committed to the company, and has no plans to exit it, the airline’s chief executive said on Wednesday. The news came a day after the airline, recently rebranded as Go First, filed…
