By David Shepardson WASHINGTON (Reuters) -Jaguar Land Rover (JLR) said it was recalling nearly 6,400 I-PACE vehicles in the United States due to fire risks because the high-voltage electric vehicle battery may overheat. JLR, which is owned by India’s Tata Motors, on Wednesday said the battery energy control module software will be updated and battery…
By Emma-Victoria Farr FRANKFURT (Reuters) – Germany’s Schmid Group said on Wednesday it plans to list in New York via a special purpose acquisition company (SPAC), in a deal estimated to give the technology firm a valuation of $640 million. The fifth generation family-owned business, which specialises in electronics, would become a publicly-listed company on…
By Maria Martinez BERLIN (Reuters) -Germany on Wednesday joined a list of major euro zone economies reporting a bigger than expected drop in inflation, suggesting that price growth may be falling more quickly than expected, adding to arguments for caution on rate hikes. The European Central Bank has raised rates by a record 375 basis…
LONDON (Reuters) – A wave of debt defaults by companies in the United States and Europe is imminent, due in part to the fastest monetary tightening cycle in 15 years, Deutsche Bank said in its annual default study released on Wednesday. Deutsche expects default rates to peak in the fourth quarter of next year. It…
By Nevzat Devranoglu ANKARA (Reuters) – Turkey’s central bank signalled at a meeting with senior bankers that it would respond positively to the banks’ requests to soften some measures which it has taken recently, three participants in the meeting said on Wednesday. A government-backed scheme to protect lira deposits from depreciation, known as KKM accounts,…
By Guy Faulconbridge MOSCOW (Reuters) – Russia’s most powerful mercenary, Yevgeny Prigozhin, said on Wednesday that he had asked prosecutors to investigate whether senior Russian defence officials had committed any “crime” before or during the war in Ukraine. Prigozhin’s request is his most blatant public challenge to date against President Vladimir Putin’s top military brass,…
By Gabriel Burin BUENOS AIRES (Reuters) – Brazil’s economy likely surged back to growth in the first quarter of the year, powered by record-breaking crops and solid crude oil output that more than offset the drag of subdued manufacturing activity, a Reuters poll of economists showed. Strong exports by commodities-producing sectors were seen adding to…
(This May 17 story has been corrected to say Marathon Petroleum, not Marathon Oil, in paragraph 8) By Trixie Yap and Florence Tan SINGAPORE (Reuters) – Finnish refiner Neste expects renewable fuels from its new facilities in Singapore and the U.S. to drive its growth this year despite expectations of lower oil product margins in…
By Indradip Ghosh BENGALURU (Reuters) – Home prices in Germany are forecast to correct modestly this year and decline a bit more in 2024 as a series of interest rate rises further cools hot demand for property during the pandemic, according to analysts polled by Reuters. Higher borrowing costs, along with still-elevated consumer inflation, dragged…
(Reuters) – Russia’s Nornickel expects the global palladium market to swing to a surplus of 300,000 troy ounces in 2024 from a deficit of 200,000 ounces in 2023 due to recycling outpacing demand recovery, the miner said on Wednesday. Nornickel, which has not been directly targeted by Western sanctions since Russia’s invasion of Ukraine, accounts…
