By Divya Rajagopal TORONTO (Reuters) – Canada’s biggest pension fund, CPP Investments, has ended its effort to study investment opportunities in the volatile crypto market, two people familiar with the matter told Reuters. The reasons behind CPPI’s abandonment of crypto research were not immediately clear. CPPI declined to comment but said it has made no…
ZURICH (Reuters) – Swiss chocolate maker Barry Callebaut is investing $70 million at one of its factories in Canada, the company said on Wednesday, its latest move to expand production in North America. The world’s biggest maker of chocolate will add more liquid chocolate and molding production lines at its site in Chatham, Ontario and…
By Nick Carey CREWE, England (Reuters) – Volkswagen’s Bentley expects a slight drop in production in 2023 as shutdowns in China have slowed orders, the British luxury carmaker’s chief executive said on Wednesday. While its customers are still placing orders, they were not doing so during lockdowns in major cities such as Beijing and Shanghai…
By David Shepardson WASHINGTON (Reuters) -The Biden administration on Wednesday added 24 companies and other entities to an export control list for supporting Russia’s military or defense industrial base, Pakistan’s nuclear activities or for supplying an Iranian electronics company. The entities, based in Latvia, Pakistan, Russia, Singapore and Switzerland, were added over U.S. national security…
(Reuters) – J.P.Morgan on Wednesday forecast a “milder” fourth-quarter contraction in the euro zone after strong resilience of the household sector resulted in a better-than-expected economic growth in the prior quarter. The brokerage now expects the economy to shrink 0.5% quarter-on-quarter, compared with its previous forecast of a 1.25% contraction. (Reporting by Subhadeep Chakravarty in…
WASHINGTON (Reuters) – U.S. worker productivity rebounded a bit more than initially thought in the third quarter, but the trend remained weak, keeping labor costs elevated. Nonfarm productivity, which measures hourly output per worker, rose at a 0.8% annualized rate last quarter, the Labor Department said on Wednesday. That was revised up from the 0.3%…
By Alex Lawler LONDON (Reuters) – Oil edged higher on Wednesday after Brent crude earlier fell close to its lowest in 2022, as hopes of higher Chinese demand offset concern about recession and easing fears that a Western cap on Russian oil prices would curb supply. China announced on Wednesday the most sweeping changes to…
(Reuters) – China’s central bank said on Wednesday it had added 32 tonnes of gold worth around $1.8 billion to its reserves, the first time it has disclosed an increase since September 2019. The additions bring China’s reported holdings at the end of November to 1,980 tonnes, worth around $112 billion. China has the world’s…
By Martin Coulter and Supantha Mukherjee LONDON/STOCKHOLM (Reuters) – The European tech industry saw $400 billion in value wiped out this year and an 18% decline in venture capital funding, according to a report from venture capital firm Atomico. The combined value of public and private tech firms in Europe fell to $2.7 trillion, down…
By Danilo Masoni and Tom Westbrook MILAN/SINGAPORE (Reuters) – World stocks eased on Wednesday and bonds remained supported after a chorus of Wall Street bankers warned about a likely recession ahead, tempering optimism about China’s major shift in its tough zero-COVID policy. Top executives at Goldman Sachs, J.P. Morgan and Bank of America all sounded…
