HANOI (Reuters) -Vietnamese electric vehicle maker VinFast said on Friday it is planning to list in the United States next month via a blank-cheque company after the Securities and Exchange Commission (SEC) gave the go ahead to its proposed business combination. VinFast, a unit of Vietnam’s biggest conglomerate Vingroup, announced in May it would go…
(Corrects first paragraph to show Spanish resilience, not German) PARIS/MADRID (Reuters) – The French and Spanish economies displayed unexpected resilience in the second quarter but stagnation in powerhouse Germany pointed to renewed weakness ahead for the euro zone, as manufacturing ails and services slow. France and Spain grew at a sustained pace on the back…
By Ananya Mariam Rajesh and Kailyn Rhone (Reuters) -Procter & Gamble on Friday beat analysts’ estimates for quarterly sales and profit buoyed by the consumer goods giant’s multiple price hikes even as it joined other multinational companies in flagging weak demand in China. A slower-than-expected rebound in China following the lifting of pandemic curbs has…
TOKYO (Reuters) – A Japanese government panel recommended on Friday that the national average minimum wage be raised by 41 yen ($0.29) an hour to 1,002 yen, the biggest hike ever in value terms, as Prime Minister Fumio Kishida makes wages a key focus of his policies. The health ministry panel’s annual recommendation serves as…
(Reuters) -Shares of Enphase Energy slumped nearly 11% on Friday, after the solar inverter maker’s third-quarter revenue target fell well short of analyst estimates due to weak demand. Appetite for solar equipment has been tepid in the United States due to lukewarm demand in states such as Texas and Arizona where cheaper electricity prices make…
By Aditya Kalra and Shivangi Acharya NEW DELHI (Reuters) – Two senior Tesla executives discussed the company’s plans to enter India with officials from the country’s investment promotion arm in New Delhi, two people with direct knowledge of the matter said, the latest in a series of high-level talks. The U.S. carmaker has expressed an…
WASHINGTON (Reuters) -Donald Trump on Friday denied wrongdoing in his handling of security tapes sought by federal investigators, a day after prosecutors added new charges alleging the former president ordered employees at his Florida resort to delete the videos. Trump, the frontrunner for the 2024 Republican presidential nomination, said in an interview with conservative radio…
By Giuseppe Fonte ROME (Reuters) – Italy’s government is trying to broker a deal with supermarkets and producers to control prices of essential consumer goods in a measure that would be implemented in the final three months of the year, a government document showed on Friday. Industry Minister Adolfo Urso is negotiating an accord with…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) – Canada’s economy grew 0.3% in May and likely contracted in June, data showed on Friday, pointing toward a slowdown that could bring an end to the central bank’s monetary tightening campaign that has pushed interest rates to a 22-year high. The expansion in May was in…
WASHINGTON (Reuters) – U.S. labor costs increased less than expected in the second quarter as wage growth cooled a bit, offering a boost to the Federal Reserve in the fight against inflation. The Employment Cost Index, the broadest measure of labor costs, rose 1.0% last quarter after advancing 1.2% in the January-March period, the Labor…
