By Martin Quin Pollard BEIJING (Reuters) -He’s “a pioneer”, “Brother Ma” and some want him to be U.S. president. Billionaire Elon Musk has been showered with praise by the Chinese public during his trip to the country while also securing audiences with three government ministers. Since landing in Beijing on Tuesday, the Tesla Inc chief…
(Updates prices) By Harry Robertson and Kevin Buckland LONDON/TOKYO (Reuters) – The U.S. dollar rose strongly on Wednesday to a more than two-month high after data showed European inflation is cooling quicker than expected and China’s recovery is sputtering. The euro fell to $1.066 earlier in the session, the lowest since March 20. It was…
By Pablo Mayo Cerqueiro LONDON (Reuters) – WE Soda, the world’s largest producer of natural soda ash, is looking to raise at least $800 million for its parent Ciner Group in an initial public offering (IPO), its chief strategy officer told Reuters, in a show of confidence in London’s capital markets. The ultimate size of…
By Nerijus Adomaitis BERGEN, Norway (Reuters) – Inspections of Norway’s offshore gas pipelines after the Nord Stream blasts found nothing suspicious, an executive at energy major Equinor told Reuters, in the first official word on the security sweep. However, risks remain after last year’s still-unexplained explosions at the Nord Stream pipelines built to carry Russian…
(Reuters) – Electric vehicle (EV) startup Faraday Future Intelligent Electric launched its limited edition FF 91 2.0 Futurist Alliance vehicle on Tuesday, priced at $309,000. The company said the model is limited to 300 units globally and that it has opened reservations in both U.S. and China. The startup also launched the regular FF 91…
BERLIN (Reuters) – Volkswagen will not participate in a discount battle in China “at any price”, Chief Operating Officer Ralf Brandstaetter said in an interview released on Wednesday. “Volkswagen is focusing on a sustainable business model. In concrete terms, this means that we will not participate in the discount battle at any price,” Brandstaetter said…
SHANGHAI (Reuters) – Chinese search giant Baidu Inc will set up a venture capital fund of 1 billion yuan ($145 million) to back start-ups focused on content generated by artificial intelligence applications, it said on Wednesday. The company will also launch a competition for developers to build applications off its ERNIE large language model (LLM)…
BEIJING (Reuters) – Agribusiness giant Cargill has agreed to sell its poultry business in China to private equity firm DCP Capital, the U.S. company said in a statement on Wednesday. The sale of the unit known as Cargill Protein China is subject to regulatory approvals but is expected to close this year, it added. The…
By Martin Quin Pollard BEIJING (Reuters) -Tesla Inc CEO Elon Musk kicked off his second day in China with visits to the country’s commerce ministry and industry ministry. Musk left his hotel on Wednesday morning accompanied by Grace Tao, Tesla’s China-based public affairs chief and Tom Zhu, head of global manufacturing. At the commerce ministry,…
By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s factory activity shrank faster than expected in May on weakening demand, heaping pressure on policymakers to shore up a patchy economic recovery and knocking Asian financial markets lower. The official manufacturing purchasing managers’ index (PMI) fell to a five-month low of 48.8, the National Bureau…
