SAO PAULO (Reuters) -Toyota Motor Corp said on Wednesday it will invest 1.7 billion reais ($337.68 million) to manufacture a new hybrid, flex-fuel compact car in Brazil, which will run on both gasoline and ethanol in addition to its electric engine. The Japanese carmaker has been betting big on the segment in the South American…
LONDON (Reuters) – Global demand for silver rose by 18% last year to a record high of 1.24 billion ounces, creating a huge supply deficit, the Silver Institute said on Wednesday, predicting more shortages in the years to come. The silver market was undersupplied by 237.7 million ounces in 2022, the institute said in its…
By Norihiko Shirouzu and Joseph White SAN ANTONIO, Texas (Reuters) – At Toyota Motor Corp’s sprawling factory here, just 16 miles (26 km) from the Alamo, a new gasoline-fueled Tundra pickup truck or hybrid Sequoia SUV rolls off the assembly line every 60 seconds. “We can’t produce enough of the Sequoias and Tundras today,” said…
(Reuters) – Stellantis will recall 131,700 Ram 1500 pickup trucks manufactured in 2021 due to a powertrain software issue, the National Highway Traffic Safety Administration’s (NHTSA) website showed on Wednesday. The issue may cause the pickup trucks with 5.7L eTorque engines to stall due to an incorrect fuel mixture condition, according to the NHTSA. “The…
By Casey Hall SHANGHAI (Reuters) – At the Shanghai auto show this week, the largest crowds can be found around an unassuming, bright yellow hatchback parked at the booth of China’s largest electric carmaker BYD. Dubbed the “Seagull”, BYD’s latest electric vehicle (EV) made its debut at the event this week, stunning visitors not so…
By Fergal Smith TORONTO (Reuters) -Canadian housing starts fell more than expected in March, contributing to a slower trend in recent months that follows a rapid increase in borrowing costs, data from the national housing agency showed on Wednesday. The seasonally adjusted annualized rate (SAAR) of housing starts fell 11% to 213,865 units from a…
By Laura Sanicola (Reuters) -U.S. crude oil inventories last week fell more than forecast as refinery runs and exports rose, while gasoline stockpiles jumped unexpectedly on disappointing demand, Energy Information Administration data showed on Wednesday. Crude inventories fell 4.6 million barrels in the week to April 14 to 466 million barrels, more than…
By Saeed Azhar and Tatiana Bautzer NEW YORK (Reuters) -Morgan Stanley plans to buy more wealth and asset management businesses, and is keeping an eye on potential targets, CEO James Gorman said on Wednesday. While a deal is not imminent, the bank is interested in private banking opportunities in the United States, Asia and parts…
(Reuters) – U.S. banking heavyweights set aside billions of dollars in the first quarter to account for potential bad loans, as rising interest rates turn up the heat on borrowers who are just starting to see some relief from inflation. Below is an outline of how banks have managed their reserves since 2020: JPMorgan Chase…
By Michael Georgy DUBAI (Reuters) – A battle that is hammering Khartoum and dragging Sudan to the brink of civil war pits the army chief and his regular forces against the streetwise fighters loyal to a former warlord. Army head General Abdel Fattah al-Burhan controls heavy weapons and the airforce, but his soldiers face a…
