SHANGHAI (Reuters) – Tesla has cut output of its best-selling Model Y electric car by a double-digit percentage number at its Shanghai plant since March, according to industry data and a source. The move is aimed at addressing weakening demand for the U.S. automaker’s aged model in China, its second largest market into which a …
Tesla slashes Model Y production in Shanghai, data shows Read More »
By Tetsushi Kajimoto TOKYO (Reuters) – Japanese factory output likely grew for a second straight month in April while retail sales picked up, a Reuters poll showed on Friday, highlighting budding signs of an economic recovery. The rise in core consumer prices (CPI) in Tokyo areas, which become available a month earlier than nationwide, likely …
Japan factory output seen up, inflation complicates BOJ exit – Reuters poll Read More »
By Satoshi Sugiyama TOKYO (Reuters) -The Bank of Japan will decide to start tapering the size of its bond-buying by end-July, according to nearly two-thirds of economists polled by Reuters, while close to 90% forecast an interest rate hike to at least 0.20% by the end of the year. The findings reflect forecasters’ stronger conviction …
BOJ to decide bond-purchase reduction by end-July, say economists Read More »
By Aditya Soni, Gokul Pisharody and Lewis Krauskopf (Reuters) – Shares of Nvidia surged over 9% on Thursday, building on a stunning rally as its bumper revenue forecast reinforced investor confidence in the AI-driven boom in chip demand. The semiconductor bellwether’s surge translated to an addition of around $218 billion in market value on the …
Nvidia adds over $200 billion in market value in post-earnings rally Read More »
By Poonam Behura and Summer Zhen (Reuters) -Hong-Kong based Segantii Capital Management has told its investors it will return their money, weeks after authorities charged the hedge fund and its founder, Simon Sadler, for insider trading, a spokesperson for the firm said on Thursday. The move marks a turning point for Sadler, dubbed Asia’s “block …
Segantii to refund investor money after Hong Kong insider trading charges Read More »
By Martin Coulter PARIS (Reuters) -Tesla founder Elon Musk told tech investors in Paris on Thursday he opposed U.S. tariffs on Chinese electric vehicles (EVs), an about-face from his January warning that trade barriers were needed or China would “demolish most other car companies in the world.” On Thursday, Musk said he did not favour …
Elon Musk now says he opposes US tariffs on Chinese EVs Read More »
By David Lawder STRESA, Italy (Reuters) -U.S. Treasury Secretary Janet Yellen said on Thursday that she wants market-driven countries to present a “wall of opposition” to China over its state-driven industrial policies, a key issue she is pushing at a G7 finance meeting this week. Yellen also told a news conference that she is looking …
Yellen wants G7 ‘wall of opposition’ to China’s excess industrial capacity Read More »
LONDON (Reuters) – Allianz is the lead insurer for the Singapore Airlines aircraft which left one person dead and scores injured after it hit severe turbulence and had to be diverted to Bangkok this week, two sources said on Thursday. The sources familiar with the matter, who declined to be named, could not immediately provide …
Allianz is lead insurer for Singapore Airlines plane-sources Read More »
By Carolina Mandl NEW YORK (Reuters) -Bridgewater Associates has promoted Joanna Alpert, its China general manager, as head of a recently launched business unit focused on managing and creating new investment products. Co-Chief Investment Officer Karen Karniol-Tambour announced the promotion in a letter to employees, emphasizing Alpert’s experience in China over the last six years, …
Bridgewater taps China head Alpert to oversee new investment unit Read More »
KUALA LUMPUR (Reuters) – Malaysia’s scandal-hit state fund 1Malaysia Development Berhad (1MDB) has filed a lawsuit against a top PetroSaudi International executive seeking the return of $1.83 billion invested in a joint venture, state news agency Bernama reported on Thursday. The fund entered what would ultimately become a failed joint venture with PetroSaudi to develop …
Malaysia’s state fund 1MDB sues PetroSaudi executive, seeking $1.83 billion Read More »
