By Fabian Cambero SANTIAGO (Reuters) -While Chile’s plan to take control of its lithium industry has caused global shockwaves, state-led production of the metal used to make electric vehicle batteries is seen by analysts as likely years away given technical and political challenges. President Gabriel Boric last week said he would move to gradually nationalize…
LONDON (Reuters) – The number of companies declared insolvent in England and Wales in the first three months of 2023 was up 18% on a year earlier and remained close to the 13-year high recorded in the final quarter of 2022, government data showed on Friday. Some 5,747 companies in England and Wales were declared…
By Ziyi Tang and Engen Tham SHANGHAI/BEIJING (Reuters) – Five of China’s largest lenders posted shrinking margins in the first quarter on Friday, as loan re-pricing bites. Borrowers are struggling to repay loans after three years of China’s zero-COVID policy hit the economy and Beijing has put pressure on lenders to reduce individual and company…
BERLIN (Reuters) – Inflation looks set to ease in Germany in April on the back of lower food and energy prices, preliminary data from six economically important regional states showed on Friday. The inflation rate in Brandenburg fell to 7.6% year-on-year, and in Baden-Wuerttemberg it fell to 7.3%. It slowed to 6.9% in Hesse and…
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s key inflation rate eased to 35.3% in April from 50.3% in March, the statistics department said on Friday, a sign of relief for the crisis-battered economy. The Colombo Consumer Price Index (CCPI) reflected a reduction in food inflation to 30.6% in April from 47.6% in March, while non-food…
BANGKOK (Reuters) – Thailand’s economy slowed down in March compared with the previous month, as exports declined but the service sector continued to improve from higher foreign tourist numbers, the central bank said on Friday. Economic activity is expected to have improved in April and exports should gradually pick up, the Bank of Thailand (BOT)…
BRUSSELS (Reuters) – Chipmakers STMicroelectronics and GlobalFoundries secured EU approval on Friday to build a chip factory with French state aid in France. The companies announced their plan in July last year, with the new facility to be situated next to STM’s existing plant in Crolles and targeted to reach full capacity by 2026, with…
A look at the day ahead in U.S. and global markets from Mike Dolan After mega tech earnings inspired the best day for Wall St stocks in almost 4 months, online retail giant Amazon cooled the frenzy somewhat on Friday – even as chipmaker Intel attempted to pick up the torch. But the dramatic re-acceleration…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Asian finance leaders gathering in South Korea next week will likely debate ways to beef up safeguards against market turbulence, as global banking sector woes and fears of recession in advanced economies cloud the economic outlook. The impact of U.S. interest rate hikes on the region’s…
By Mike Dolan LONDON (Reuters) -After a torrid 2022 for its stock prices, it seems Big Tech can do no wrong again this year. The eye-popping outperformance of the U.S. digital and technology giants this year helps explain the slightly puzzling levity of stock markets amid all the recession handwringing – not least because these…
