South Korea’s Hyundai Motor Group and LG Energy Solution Ltd. will invest 5.7 trillion won ($4.3 billion) to produce electric-car batteries in the US to comply with President Joe Biden’s clean energy tax law, which seeks to encourage domestic production and reduce reliance on Chinese suppliers.
Inflation in Tokyo slowed in May, an outcome that offers support for the Bank of Japan’s view that price gains will slow toward the autumn, though policymakers and economists remain at odds over the strength of trend.
The yen weakened beyond 140 per dollar for the first time since November as traders moved to price in another Federal Reserve interest-rate increase, underscoring diverging expectations of monetary policy in Japan and the US.
A cyclone that devastated large parts of New Zealand’s North Island in February has proved to be less inflationary than first feared, according to a senior official at the nation’s central bank.
Mexico’s bank regulator CNBV approved fintech Ualá’s purchase of ABC Capital, allowing the company to move forward with a merger that finalizes its path to a banking license in Latin America’s second-biggest economy.
Traders have ratcheted up bets on Chinese monetary easing to the most since November on signs the economy’s post-Covid recovery is running out of steam.
Alibaba Group Holding Ltd. said it plans to hire 15,000 people this year, pushing back on reports that the Chinese tech firm is laying off employees.
North Korea is ramping up efforts to deploy information technology workers overseas as it increasingly relies on cyberattacks and other online crimes to funds its weapons programs, US and South Korean officials said, anticipating the easing of the isolated country’s strict Covid lockdown.
Continued reliance on the dirtiest fossil fuel means the world’s most populous nation is making its climate troubles worse.
Congressional Republicans and the White House still have ground to cover before reaching an agreement on averting an approaching US debt default, House Speaker Kevin McCarthy said Thursday night.
