By Medha Singh and Bansari Mayur Kamdar (Reuters) -The S&P 500 and the Dow hit all-time highs on Thursday, extending a record-setting run as a dip in weekly jobless claims allayed fears over the economic damage from a rampant surge in COVID-19 infections in the United States. The blue-chip Dow was set to rise…
By Katanga Johnson and Sujata Rao WASHINGTON/LONDON (Reuters) -A week-long rally in world stock markets showed few signs of abating on Thursday as investors looked beyond the Omicron COVID-19 variant, bolstering gains for stocks and oil, while the dollar slipped. Sentiment was supported by signs that governments, despite coronavirus cases hitting record highs, are…
(Reuters) – Tesla Inc is recalling more than 475,000 of its Model 3 and Model S electric cars to address rearview camera and trunk issues that increase the risk of crashing, the U.S. road safety regulator said. The U.S. electric vehicle manufacturer is recalling 356,309 2017-2020 Model 3 vehicles to address rearview camera issues…
(Reuters) – The number of Americans filing new claims for unemployment benefits fell last week, the Labor Department said on Thursday, data that showed no impact yet on employment from the surge in U.S. coronavirus infections to a record. Initial claims for state unemployment benefits dropped to a seasonally adjusted 198,000 for the week…
By Xie Yu and Clare Jim HONG KONG (Reuters) -Shares of China Evergrande Group tumbled on Thursday after the embattled real estate developer did not pay offshore coupons due earlier this week. Evergrande, whose $19 billion in international bonds are in cross-default after missing a deadline to pay coupons earlier this month, had new…
By Sujata Rao LONDON (Reuters) – A seven day rally in world stocks ran out of steam on Thursday as the spread of Omicron worldwide clouded bumper year-to-date gains, dented oil prices and boosted the dollar. Sentiment was supported, however, by signs that governments, despite coronavirus cases hitting record highs, are trying to limit…
By John McCrank and Karen Brettell NEW YORK (Reuters) -Libor, or the London Interbank Offered Rate, will no longer be used for new derivatives and loans as of Jan. 1. The benchmark and reference rate, which had $265 trillion linked to it globally at the start of 2021, is being scrapped in the biggest…
SHANGHAI/HONG KONG (Reuters) – China Evergrande New Energy Vehicle Group started its first mass production on Thursday, two sources with direct knowledge of the matter said. Mass production for its inaugural Hengchi 5 sport-utility vehicles at its Tianjin production facilities came 12 days ahead of schedule, the people said, and the firm plans to…
(Corrects typo in para 1) By Sudarshan Varadhan CHENNAI (Reuters) – Foreign automakers have indicated an interest to the government of India’s Tamil Nadu state in acquiring Ford Motor Co’s plant there, the state industries minister said on Thursday, after inconclusive talks with the Tata Group. Ford announced plans to stop production in India…
By Sujata Rao LONDON (Reuters) -World stocks snapped a seven-day rising streak on Thursday as the spread of Omicron worldwide clouded bumper year-to-date gains, dented oil prices and boosted the dollar. Sentiment was supported, however, by signs that governments, despite coronavirus cases hitting record highs, are trying to limit the economic damage by relaxing…
