By Abinaya V and Aditya Soni (Reuters) -Tesla Inc cut prices for some of its Model Y and Model 3 vehicles in the U.S. for the sixth time this year to juice demand as competition among electric-vehicle makers heats up around the world. The cuts came ahead of Tesla’s first-quarter earnings, due after markets close…
By Nick Carey and Sachin Ravikumar LONDON (Reuters) -Jaguar Land Rover (JLR) will invest 15 billion pounds ($19 billion) over the next five years in electric vehicles (EVs) and promised on Wednesday to deliver a new electric Jaguar in 2025 as the British luxury carmaker plays catch-up with rivals. JLR, which is owned by India’s…
SAO PAULO (Reuters) – Brazil’s Treasury Secretary Rogerio Ceron said on Wednesday that a new fiscal framework proposed by the government was designed to last for a long time, facing different economic and political cycles. “It is a sustainable path, unlike past solutions that had an expiration date,” Ceron said in an interview with GloboNews,…
(Reuters) -Property and casualty insurer Travelers Companies Inc on Wednesday reported a fall in quarterly profit, hurt by severe wind and hail storms in parts of the United States in March. Core income of the New York-based company, often seen as a bellwether for the insurance sector as it typically reports before industry peers, fell…
By Jesús Aguado MADRID (Reuters) -Spanish lenders may feel the impact from rising global risks, such as the higher cost of funding and liquidity stress, though their cash positions remained stable in March, Bank of Spain officials said on Wednesday. In its semi-annual financial stability report, the central bank warned global uncertainty could lead to…
By Pablo Mayo Cerqueiro and Iain Withers LONDON (Reuters) – Abrdn is seeking to individually sell a batch of private equity businesses which collectively have about 12 billion pounds of investments, after struggling to find a buyer for the entire portfolio, a source close to the matter said. The British asset manager has been working…
DUBLIN (Reuters) – Global airline capacity will be lower than expected this year and stay constrained until 2025 at the earliest, warned IATA director general Willie Walsh, due to delays in new aircraft deliveries and a lack of availability of spare parts. “I can’t see anything really improving or significantly improving probably until 2025 at…
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan’s current account recorded a surplus in March, the highest in two years, the country’s central bank and market analysts said, following stringent import restrictions to manage the South Asian economy’s turmoil. Islamabad is trying to get an IMF bailout back on track and both sides have been engaged…
By Matt Tracy WASHINGTON (Reuters) – Credit ratings agency Moody’s Investors Service Inc said on Wednesday it has pushed more highly indebted companies to the bottom of its junk ratings barrel and that debt defaults are also on the rise as financing conditions tighten. The number of companies rated B3 negative or lower by Moody’s…
By Junko Fujita TOKYO (Reuters) -Japan’s Sumitomo Mitsui Financial Group (SMFG) sold $1 billion of additional tier-1 (AT1) debt on Wednesday, becoming the first major global bank to sell the risky securities since similar bonds issued by Credit Suisse were wiped out last month. The deal reflects rebounding confidence in the banking sector of Asia’s…
