BEIJING (Reuters) – China’s top electric vehicle forum, the World New Energy Vehicle Congress (WNEVC) will hold a conference in Sacramento, California from May 16-17, according to a statement from the Chinese Society of Automotive Engineers on Sunday. With a highly developed, low cost supply chain led by companies such as BYD and Geely, China …
China top EV forum to be held in California in May Read More »
By Gilles Guillaume and Elizabeth Pineau PARIS (Reuters) – China’s commerce minister Wang Wentao is due in Paris on Sunday for talks that are expected to cover China’s fast growing export of cheap electric vehicles (EVs) into the European market. Four sources briefed on Wang’s trip told Reuters in late March that the discussions would …
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BEIJING (Reuters) – China’s foreign exchange reserves rose in March, official data showed on Sunday, even as the U.S. dollar climbed against other major currencies. The country’s foreign exchange reserves – the world’s largest – rose by $19.8 billion to $3.246 trillion last month, compared with $3.21 trillion tipped by a Reuters poll of analysts …
China forex reserves rise to $3.246 trln in March Read More »
By Toby Sterling AMSTERDAM (Reuters) – U.S. demands that chipmaking giant ASML stop servicing some equipment it has sold to Chinese customers are a diplomatic and business headache for the Dutch government, but signs are it will continue to align with Washington on export restrictions. Although Prime Minister Mark Rutte’s government is reluctant to make …
Analysis-Dutch set to comply with U.S. demands on China exports Read More »
BEIJING (Reuters) – China’s central bank will set up a 500 billion yuan ($70 billion) re-lending programme to support the country’s science and technology sectors, according to a statement released on Sunday. The programme will offer loans via 21 banks to small and midsize technology companies at an interest rate of 1.75%. The one-year loans …
China central bank to set up $70 billion tech re-lending programme Read More »
By Joseph White DETROIT (Reuters) -Henry Ford democratized car ownership with his ultra-cheap, mass-produced Model T, and Elon Musk once promised to do the same for electric cars with a Tesla that could sell for $25,000. Now, sources have told Reuters Musk is putting aside the idea of bargain-priced Tesla for the masses in favor …
Tesla casts doubt on the quest for a Model T of EVs Read More »
By Ariba Shahid KARACHI, Pakistan (Reuters) – Pakistan’s Liberty Power Holding, which this week signed a deal to buy the thermal energy assets of the country’s largest conglomerate for $125 million, is banking on its coal reserves and reforms laid out by the IMF for its investment to pay off. Liberty Power entered into an …
TOKYO (Reuters) – Japanese automaker Nissan Motor has lost access to a tax break for companies that raise wages after unlawfully underpaying dozens of suppliers, the Yomiuri newspaper reported on Saturday. Nissan had been using the tax break and will be ineligible for at least a year, the newspaper reported. The tax measures were expanded …
Nissan ineligible for tax break after underpaying suppliers – Yomiuri Read More »
By Jody Godoy NEW YORK (Reuters) -A jury in Manhattan found Singapore-based Terraform Labs and its founder Do Kwon liable on civil fraud charges on Friday, agreeing with the U.S. Securities and Exchange Commission that they misled investors before their stablecoin’s 2022 collapse shocked cryptocurrency markets. The jury delivered the verdict in federal court in …
Terraform Labs and founder Do Kwon found liable in US civil fraud trial Read More »
By David Lawder GUANGZHOU, China (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that concerns are growing over the global economic fallout from China’s excess manufacturing capacity, making the issue the main focus of four days of economic meetings with Chinese officials. China is too large to export its way to rapid growth and …
Yellen says global concerns growing over China’s excess industrial capacity Read More »
