By Rowena Edwards LONDON (Reuters) -Oil prices were on track for a hefty weekly loss as economic and interest rate uncertainty weighed, though prices were stable on Friday as the euro zone recovery gathered pace unexpectedly. Brent futures for June delivery edged down by 4 cents, or 0.05%, to $81.06 a barrel at 0932 GMT….
By Leika Kihara and Takahiko Wada TOKYO (Reuters) -The Bank of Japan is expected to maintain its ultra-easy monetary policy, including its interest rate targets and a 0.5% cap set for the 10-year government bond yield, at next week’s rate review, said four sources familiar with its thinking. At the two-day review ending on April…
By Tom Westbrook SINGAPORE (Reuters) – Asian stocks slid toward their worst week in a month-and-a-half on Friday and oil nursed losses, while bonds enjoyed their best bid in weeks as U.S. data and earnings showed signs of weakness. Figures showed more Americans filing claims for jobless benefits and manufacturing activity in the mid-Atlantic region…
LONDON (Reuters) -Glencore on Friday reported lower copper, zinc and nickel production in the first quarter but said it expects its trading division to exceed the top end of annual guidance. The miner and trader, which is pursuing a takeover bid for Canada’s Teck Resources, left overall 2023 guidance for copper unchanged at 1.04 million…
By Melanie Burton and Scott Murdoch MELBOURNE (Reuters) – As automakers and chemicals suppliers scramble to secure raw materials, resource-rich Australia has become a rare global bright spot with $37 billion worth of M&A deals in the first quarter, with the trend expected to continue in the near term. The increased dealmaking activity is forecast…
DETROIT (Reuters) – Facing a booming and hyper-competitive market for electric vehicles (EVs) in China, Ford Motor Co needs to reshape its brand for the world’s largest car market, Chief Executive Jim Farley said. “We’re going to have to rethink what the Ford brand means in a place like China,” Farley told reporters on Thursday…
DETROIT (Reuters) – Electric car giant Tesla’s decision to cut prices to drive up sales volume reflects the pressure it faces from competition and an ageing product line-up, Ford Chief Executive Jim Farley said on Thursday. Farley said Tesla’s price cuts underscore intense competition in the two-row crossover or SUV segment of the auto market,…
By Steve Gorman and Arlene Eiras LOS ANGELES (Reuters) – The spectacular explosion of SpaceX’s new Starship rocket minutes after it soared off its launch pad on a first flight test is the latest vivid illustration of a “successful failure” business formula that serves Elon Musk’s company well, experts said on Thursday. Rather than seeing…
By Rae Wee SINGAPORE (Reuters) – The dollar was eyeing its first weekly gain in more than a month on Friday as bets for another rate hike by the U.S. Federal Reserve in May firm, though its gains were capped by soft economic data pointing to a slowing economy. In Asia, Japan’s consumer inflation held…
By Doyinsola Oladipo (Reuters) – The California attorney general and the attorneys general of 17 other states on Thursday asked a federal regulator to recall Hyundai and Kia vehicles, saying they are more likely to be stolen because they lack safety features that are standard in other cars. Hyundai Motor Co and Kia Corp vehicles…
