By Akash Sriram (Reuters) -Tesla Inc’s first-quarter margins are anticipated to have hit a more than three-year low as the electric-vehicle maker slashed prices to lure more buyers in the face of rising competition and a weak economy. The world’s most valuable automaker, which commands over half of the U.S. EV market, cut sticker prices…
By Marc Jones LONDON (Reuters) – The head of the Bank of International Settlements has warned that years of fighting economic crises have created conditions that are pushing the limits of stability when it comes to the international financial system. AgustÃn Carstens, general manager of the BIS, which is dubbed the central bankers’ central bank,…
By Andrea Shalal WASHINGTON (Reuters) -The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices and calls by some countries for a lower price cap to restrict Moscow’s revenues. The G7 and Australia made the decision to maintain…
By Lucia Mutikani WASHINGTON (Reuters) – Confidence among U.S. single-family homebuilders improved for a fourth straight month in April as a dearth of previously owned homes and falling mortgage rates boosted demand for new houses, but a shortage of building materials remained a challenge. Other data on Monday showed manufacturing activity in New York state…
WASHINGTON (Reuters) – The U.S. Internal Revenue Service provided live assistance to 87% of taxpayers’ phone calls during the 2023 tax filing season, up from 15%, due to customer service hires made possible by $80 billion in new IRS funding over a decade, the U.S. Treasury said on Monday. As Tuesday’s tax filing deadline approached,…
FRANKFURT (Reuters) – The European Central Bank can discuss changing its 2% inflation goal but only after it brings down inflation to that level, ECB President Christine Lagarde said on Monday. “At the moment… there is absolutely no reason to change that 2% medium-term objective,” Lagarde said at the Council on Foreign Relations in New…
(Reuters) – Eli Lilly and Co said on Monday it will invest an additional $1.6 billion at its two new manufacturing sites in Indiana, United States to support the manufacturing of its recently approved cancer drug, Jaypirca, among others. The company’s total investment commitment in the facilities now stands at $3.7 billion, Eli Lilly said….
(Reuters) – Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), said hedge funds and other parts of the shadow banking system need to face greater scrutiny after last month’s upheaval in U.S. government bonds, the Financial Times reported on Saturday. Gensler told the newspaper that reducing the risks from speculative funds…
DUBLIN (Reuters) – Ryanair does not expect to see major disruption this summer on account of Boeing’s decision to halt deliveries of 737 MAX jets over quality issues, a senior executive told Irish broadcaster RTE on Monday. The Irish airline in a statement on Friday said it was assessing with Boeing how the issue, related…
HONG KONG/LONDON (Reuters) – HSBC’s biggest shareholder Ping An is likely to vote in favour of splitting the bank up at its annual investor meeting on May 5, a source familiar with the Chinese insurer’s thinking said on Monday. The source said Ping An would vote in favour of two resolutions tabled by individual investor…
