TOKYO (Reuters) – S&P Global Ratings upgraded SoftBank Group Corp’s long-term credit rating by one notch to BB+, saying the outlook was stable on expectations of the company’s ability to stay relatively stable financially in the near term. “Over the next one to two years, SoftBank Group is likely to continue to stabilise its investment …
S&P lifts SoftBank Group credit rating to BB+, says outlook stable Read More »
By Sarah Wu BEIJING/SHANGHAI (Reuters) -Shares in Chinese electric vehicle maker Xpeng jumped more than 10% on Wednesday driven by revenue growth from research and development services offered to Volkswagen as well as upbeat comments about its goals for gains in self-driving tech. Xpeng, which deepened its partnership with VW in April to co-develop EV …
Xpeng shares surge on tech service income, upbeat comments on self-driving tech Read More »
BEIJING/SHANGHAI (Reuters) – China’s central bank has guided some commercial banks to accelerate the pace of lending in May, four sources with knowledge of the matter said, after broad credit growth in April hit a record low. The People’s Bank of China (PBOC) gave the instructions to the lenders at meetings in recent days, the …
China’s central bank guides banks to step up lending in May, sources say Read More »
SHANGHAI (Reuters) – The first batch of China’s 1-trillion-yuan ($138.14 billion) ultra-long special treasury bonds, which debuted on Wednesday, surged more than 20% on the Shanghai and Shenzhen stock exchanges, triggering trading suspensions. The eye-popping bids on the bourses, where retail investors can trade these sovereign bonds designed to shore up a fragile economy, contrast …
China’s ultra-long special bonds surge on exchange debut, triggering suspensions Read More »
By Rajesh Kumar Singh CHICAGO (Reuters) – Buckle up. That is the message from flight attendants and pilots following the severe turbulence encountered by a Singapore Airlines flight on Tuesday that resulted in the death of one and injured dozens of others. The London-to-Singapore flight hit heavy turbulence over the Indian Ocean and descended 6,000 …
After Singapore Airlines turbulence accident, flight crews urge buckling up Read More »
By David Shepardson WASHINGTON (Reuters) – The U.S. International Trade Commission said Monday it is investigating a complaint filed by ArcelorMittal <MT.AS> that Vietnamese automaker VinFast violated its patents related to high-strength aluminum and aluminum alloy-coated steel in imported vehicles. ArcelorMittal in April filed a complaint with the ITC and also filed suit against VinFast …
US ITC probes ArcelorMittal complaint that VinFast violated aluminum patents Read More »
By Joyce Lee SEOUL (Reuters) -Sixteen companies at the forefront of developing Artificial Intelligence pledged on Tuesday at a global meeting to develop the technology safely at a time when regulators are scrambling to keep up with rapid innovation and emerging risks. The companies included U.S. leaders Google, Meta, Microsoft and OpenAI, as well as …
Second global AI summit secures safety commitments from companies Read More »
By Jonathan Stempel NEW YORK (Reuters) – BlackRock was sued for $20 million by a whistleblowing former vice president who said it fired him after he objected to a colleague’s self-dealing, and was forced to shut down a search engine for monitoring client discussions about illegal investments, including in China. In a complaint on Saturday, …
BlackRock whistleblower sues over firing, shutdown of China monitoring tool Read More »
By Zaheer Kachwala (Reuters) -Xpeng forecast a rise in second-quarter deliveries on Tuesday as price cuts help the electric-vehicle maker to attract more buyers in a competitive Chinese market, sending its U.S.-listed shares 4% higher. The automaker expects to hand over between 29,000 and 32,000 vehicles, an increase of about 25% to 37.9% from a …
China’s Xpeng sees higher quarterly deliveries as promotions boost EV demand Read More »
TOKYO (Reuters) – A slowdown in the take-up of electric vehicles in the U.S. may prompt Tesla-supplier Panasonic to delay investing in additional plants to boost its automotive battery capacity in North America, the Japanese group’s chief executive said. Panasonic, whose energy unit makes batteries for Tesla, is closely watching its Chinese supply chain and …
Slowing EV uptake may delay Panasonic’s EV battery expansion, CEO says Read More »
