By David Milliken LONDON (Reuters) -England and Wales saw the most company insolvencies since 2009 during the second quarter of this year, government figures showed on Friday – a total which risks rising as higher Bank of England interest rates begin to bite. On a seasonally adjusted basis, 6,342 companies were registered as insolvent in…
TOKYO (Reuters) -Toyota Motor Corp said on Friday it will sell a stake worth about 250 billion yen ($1.80 billion) in telecoms company KDDI Corp as part of an effort to raise funds to accelerate vehicle electrification. The world’s largest automaker by sales last month unveiled sweeping plans to improve the driving range and cut…
By Munsif Vengattil GANDHINAGAR, India (Reuters) – U.S. chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual…
By Howard Schneider, Francesco Canepa and Leika Kihara WASHINGTON/FRANKFURT/TOKYO (Reuters) -Top central banks continued with another round of interest rate hikes this week despite cooling inflation, but have now switched to a more cautious posture about further moves in a sign that a year-long round of global monetary tightening could be at an end. The…
By Sarita Chaganti Singh NEW DELHI (Reuters) – China’s BYD has told its India joint-venture partner it would shelve plans for a new $1-billion investment to build electric cars after its investment proposal faced scrutiny from New Delhi, two people with knowledge of the discussions said. BYD and its partner, privately held Megha Engineering and…
By Jeanny Kao and Faith Hung TAIPEI (Reuters) -Taiwan’s export-dependent economy returned to growth in the second quarter, helped by resilient domestic consumption, while exports remained weak as a result of flagging demand for the island’s technology products amid global headwinds. Gross domestic product (GDP) expanded by a preliminary 1.45% in the April-June period versus…
By Rich McKay (Reuters) – Three men convicted more than a decade ago of plotting to blow up New York City synagogues, a Jewish community center and shoot down military planes, were ordered to be released from prison by a judge on Thursday who said they had been manipultaed by the FBI. In a scathing…
LONDON (Reuters) – Major central banks are tentatively eyeing the end of aggressive interest rate hikes as price pressures finally show signs of abating. Inflation remains high across the globe, but in some big economies has cooled faster than expected. Upcoming decisions are on a knife-edge. Pausing too early could cause financial conditions to loosen…
ATHENS (Reuters) – A further rise in euro zone interest rates in September looked “difficult”, Greek central bank chief Yannis Stournaras said in an interview with a Greek news website released on Friday. “It looks like we are very close to the end of interest rate rises,” Stournaras, considered a dove on the ECB’s 26-member…
By Selena Li and Lawrence White HONG KONG (Reuters) -Standard Chartered PLC upgraded its annual profit forecast on Friday and set a new $1 billion share buyback after a strong first-half performance, as rising rates and a record financial markets business propelled the lender’s margins. StanChart, which earns most of its revenue in Asia, said…
