By Andy Bruce and William Schomberg LONDON (Reuters) -Children returning to school after an illness-ravaged December provided an unexpected, one-off boost to Britain’s economy in January, when growth in output exceeded forecasts, data showed on Friday. The Office for National Statistics (ONS) said Britain’s economy expanded 0.3% month-on-month, after a drop of 0.5% in December…
HANOI (Reuters) – Vietnam’s automaker VinFast on Friday said it will push back its plan to start operations of its electric vehicles factory in the United States until 2025, citing a procedural delay. The unit of conglomerate Vingroup JSC flagged the plan to build a $4 billion EV factory in North Carolina’s Chatham County on…
OSLO (Reuters) – Swedbank will book a provision of 40 million Swedish crowns ($3.72 million) related to an investigation by the U.S. Office for Foreign Assets Control (OFAC) over the bank’s “historical shortcomings”, the bank said on Friday. The U.S. Treasury’s OFAC is investigating “transactions that the bank has notified the authority about”, Swedbank said…
NEW DELHI (Reuters) – Boeing Co will set up in India a facility to convert passenger aircraft into freight planes to capitalise on growing global demand for cargo, executives from the U.S. aviation firm said on Friday. The facility will add to Boeing’s $1 billion supply chain sourcing from India and will help support India’s…
By Sudarshan Varadhan and Muyu Xu (Reuters) -Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States slowing growth and hitting fuel demand. Brent dipped 48 cents, or 0.6, to $81.11 a barrel by…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -The Bank of Japan (BOJ) maintained ultra-low interest rates on Friday and held off making changes to its controversial bond yield control policy, leaving options open ahead of a leadership transition in April. The meeting was the last one to be chaired by Governor Haruhiko Kuroda, who…
By Krystal Hu, Anna Tong and Ananya Mariam Rajesh (Reuters) – SVB Financial Group scrambled on Thursday to reassure its venture capital clients their money was safe after a capital raise led to its stock collapsing 60% and contributed to wiping out over $80 billion in value from bank shares. SVB, which does business as…
By Rae Wee SINGAPORE (Reuters) – The dollar paused its ascent on Friday after a rise in jobless claims in the United States implied possibly easing conditions in the labour market and tempered expectations of further aggressive rate hikes from the Federal Reserve. In Asia, moves were subdued as markets remained on guard ahead of…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan (BOJ) is set to maintain ultra-low interest rates on Friday and hold off on making major changes to its controversial bond yield control policy, leaving options open ahead of a leadership transition in April. The meeting will be the last one to be chaired by Governor…
SANTIAGO (Reuters) – LATAM Airlines reported a fourth-quarter net profit of $2.538 billion, the company said on Thursday, noting that all financial renegotiations stemming from its bankruptcy proceedings are reflected in the results. The quarterly profit of South America’s leading airline compares to a loss of $2.755 billion during the same three-month period during the…
