HONG KONG (Reuters) – Chinese electric vehicle maker Xpeng Inc on Thursday expanded its self-driving capability to Beijing as part of the automaker’s expanded launch of City NGP (Navigation Guided Pilot) across the mainland. City NGP is now available in Guangzhou, Shenzhen, Shanghai and Beijing, with plans to expand it to dozens of cities within…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan is widely expected to maintain ultra-easy monetary policy on Friday despite stronger-than-expected inflation, as it focuses on supporting a fragile economic recovery amid a sharp slowdown in global growth. The central bank is also likely to keep intact a pledge to “patiently” sustain massive stimulus to…
By Liangping Gao and Marius Zaharia BEIJING/HONG KONG (Reuters) – Beijing resident Hu Yongwei bought more than a dozen apartments in the small central Chinese city of Hebi for about $31,000 in all, betting they will be financially more rewarding than other investments. Hu, who mostly acquired two- or three-bedroom apartments built about three decades…
By Leika Kihara TOKYO (Reuters) -One of Bank of Japan Governor Kazuo Ueda’s biggest challenges will be to phase out a controversial yield curve control policy, which is criticised for distorting markets by keeping long-term interest rates low despite creeping inflation. While Ueda has stressed the BOJ will be in no rush to dial back…
(Reuters) – The U.S. Federal Deposit Insurance Corporation has begun a sale of failed Silicon Valley Bank’s German assets, seeking bids for the lender’s $460 million portfolio of loans, leases and other assets, the Financial Times reported on Thursday. Details of the sale were disclosed in marketing materials sent to large investors in recent days…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Bank of Japan, the most dovish major central bank in the world, announces its latest policy decision on Friday, with markets highly sensitive to signs of when and to what degree it will ditch…
By Nell Mackenzie and Kirstin Ridley LONDON (Reuters) – Wall Street firms are poised to reassess how they vet hedge funds, industry sources and experts say, following a race to cut ties with Odey Asset Management after founder Crispin Odey was accused of sexual misconduct in the press. The Financial Times and Tortoise Media, in…
ROME (Reuters) – Italy’s Prime Minister Giorgia Meloni met with Tesla CEO Elon Musk in Rome later on Thursday, a government source said, after holding brief talks with Foreign Minister Antonio Tajani in the morning. Talks between Meloni and Musk focused on the low birth rate in Italy, the issue of deregulation in the European…
By Mathieu Rosemain PARIS (Reuters) – Casino and the holders of its 6.4 billion euros ($7 billion) of debt met at France’s finance ministry on Thursday morning as the beleaguered retailer seeks to thrash out a deal to secure its future, two sources close to the matter said. The meeting, hosted by CIRI – the…
By Scott DiSavino NEW YORK (Reuters) -Oil prices rose over 2% to a one-week high on Thursday as the U.S. dollar weakened and data showed a jump in refinery runs in top crude importer China. Brent futures rose $1.76, or 2.4%, to $74.96 a barrel by 11:21 a.m. EDT (1521 GMT). U.S. West Texas Intermediate…
