BANGKOK (Reuters) – Chinese auto maker Changan Auto will invest $285 million in a facility in Thailand to produce 100,000 electric vehicles (EVs) annually, Thailand’s Board of Investment said on Thursday. The company aims to sell the EVs in Thailand, Southeast Asia, Australia, and South Africa, said the board’s secretary-general, Narit Therdsteerasukdi. Thailand is Asia’s…
LONDON (Reuters) – JPMorgan expects the U.S. debt ceiling to become an issue as early as next month with the Wall Street bank ascribing a “non-trivial risk” of a technical default on U.S. Treasuries. In a note published to clients late on Wednesday, JPMorgan said it expected both the debate over the debt ceiling as…
LONDON (Reuters) -Britons starting new private-sector housing tenancies spent an average of 26.8% of their income on rent in March, up from 26.6% a year earlier and 25.0% in March 2019, according to figures released by the Office for National Statistics on Thursday. “Rent is now less affordable than it was in 2019; however, it…
BRUSSELS (Reuters) – The euro zone swung to a trade surplus in February from a deficit a year earlier, non-adjusted data showed on Thursday, mainly thanks to a jump in exports of chemicals and machinery and the bulk of the improvement coming from Germany and Italy. The European Union’s statistics office Eurostat said the seasonally…
By Leigh Thomas PARIS (Reuters) -France will see its national debt burden fall faster than previously expected even though the cost of interest payments is set to soar, Finance Minister Bruno Le Maire said on Thursday. The national debt burden, which reached a record just shy of 3 trillion euros at the end of last…
(Reuters) -Richard Branson’s Virgin Orbit Holdings Inc and its subsidiaries in the United States filed a Chapter 11 bankruptcy plan with the U.S. Bankruptcy Court for the District of Delaware, the company said in a statement on Wednesday. Earlier this month, Virgin Orbit filed for Chapter 11 bankruptcy protection after the satellite launch company struggled…
By Ankur Banerjee SINGAPORE (Reuters) -Corporate governance in Japan has suddenly become a cause celebre, rousing the world’s third-largest stock market out of decades of lethargy and drawing in hordes of foreign investors. Japan’s stock market has long been seen by investors as a ‘value trap’ where companies focus on market share, hoard cash and…
BERLIN (Reuters) – Deutsche Bank plans to reduce its executive board to nine members from 10 and to cut some jobs in infrastructure and in its private banking business to save costs, a source close to the bank told Reuters on Thursday. Germany’s largest bank, which is due to present first-quarter results on April 27,…
BERLIN (Reuters) – Volkswagen’s U.S.-assembled ID.4 models will be eligible for a $7,500 tax credit this year, according to the German carmaker, after new U.S. Treasury requirements on battery sourcing came into effect this week. Volkswagen added that it was the only international carmaker to have a full battery-electric vehicle eligible for the full credit….
By A. Ananthalakshmi and Rozanna Latiff KUALA LUMPUR (Reuters) – Malaysia has launched an investigation to uncover how hundreds of migrant workers arrived from South Asia without jobs, despite having paid steep fees to get employment, officials and rights groups said. The issue revives concerns over labour abuses in Malaysia, a key manufacturing hub at…
