(Reuters) – BlackBerry on Monday said that Foxconn-led Mobility in Harmony (MIH) consortium has chosen the Canadian technology company to provide software and some services. The consortium’s electric vehicle (EV) platform will use BlackBerry’s QNX operating system for vehicles, and automotive artificial intelligence platform IVY to help process and store data collected from sensors in…
By Howard Schneider WASHINGTON (Reuters) – Throughout the Federal Reserve’s drive to kill inflation, policymakers have focused on raising the benchmark overnight interest rate high enough to do the job and getting it there fast enough to keep the public from losing faith. But in the quest for a “soft landing,” where inflation falls without…
KYIV (Reuters) – Ukrainian forces have recaptured nearly 15 square km (5.8 square miles) of land from Russian troops in the east and south over the past week during their counteroffensive, a senior defence official said on Monday. Kyiv’s forces have now retaken 204.7 sq km in the south since they launched a major push…
LONDON (Reuters) – The chairman of NatWest Howard Davies should remain in office to ensure stability for the bank, a senior official at Britain’s Financial Conduct Authority said on Monday. Sheldon Mills, executive director at the FCA, said he agreed with financial services minister Andrew Griffith who last week expressed confidence in Davies after the…
A look at the day ahead in U.S. and global markets from Mike Dolan: Wall Street is lapping up a soothing blend of disinflation, peak interest rates and trend growth, with two of its mega caps reporting results this week in a forecast-beating earnings season that has helped stocks hit their highest in more than…
By Karen Brettell (Reuters) -The U.S. Treasury Department is likely to begin gradually increasing the size of its note and bond auctions when it announces its financing plans for the coming quarter next week, in order to finance higher spending as its tax revenues decline. The Treasury has largely relied on sales of bills since…
DUBAI (Reuters) – Saudi Arabia’s gross domestic product (GDP) grew 1.1% in the second quarter, according to government estimates released on Monday, supported by an increase in non-oil activities, although overall growth decelerated sharply from the prior-year period. The Saudi economy grew 8.7% last year, among the fastest in the G-20, as high oil prices…
By Daniel Leussink TOKYO (Reuters) – Toyota will strengthen development of electric vehicle technology in China, the automaker said on Monday, as it looks to catch up with increasingly tough domestic competition in the world’s largest auto market. The move is the latest from the world’s top-selling carmaker to show a sharper pivot to electric…
HONG KONG (Reuters) – Hong Kong’s economic growth slowed in the second quarter from a year earlier, advance government data showed on Monday, with the momentum softening after a strong rebound in the preceding quarter. Total exports of goods continued to plummet as the external demand for goods remained weak, and overall investment expenditure saw…
(Reuters) – Citigroup raised its year-end target for the S&P 500 by 15% as it now sees a higher probability of a soft landing for the U.S. economy, as well as, an earnings upside. The bank sees the S&P 500 ending 2023 at 4,600 points, a 0.4% uptick from Friday’s closing of 4,582.23. For 2024,…
