By Jeff Mason and Trevor Hunnicutt WASHINGTON (Reuters) -Finance ministers from the Group of Seven club of wealthy nations will discuss the Biden administration’s proposed price cap on Russian oil when they meet on Friday, the White House said. “This is the most effective way, we believe, to hit hard at Putin’s revenue and doing …
G7 to discuss proposed Russian oil price cap on Friday, White House says Read More »
By David Gaffen NEW YORK (Reuters) -Oil prices extended their slide on Wednesday, led lower by worries that the global economy would slow further with renewed restrictions to curb COVID-19 in China. Brent crude futures for October due to expire on Wednesday, settled at $96.49, down $2.82 a barrel, or 2.8%. The more active November …
By John McCrank and Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar eased against a basket of currencies on Wednesday, but remained near the 2-decade high hit on Monday, as traders braced for more interest rate hikes from the U.S. Federal Reserve. The dollar index, which measures the greenback against a basket of six …
WASHINGTON (Reuters) – A General Motors and LG Energy Solution joint venture battery production plant in Ohio has begun production. The Ultium Cells plant is the first of at least four plants planned in the United States by the joint venture to supply GM electric vehicles. The Warren plant has more than 800 employees and …
GM, LG Energy joint venture Ohio battery plant begins production Read More »
MANILA (Reuters) – The Philippines is open to new talks with China on oil and gas exploration, the Southeast Asian country’s foreign minister said on Wednesday. A deal with China or any other country on joint oil and gas exploration, however, should comply with Philippine laws, Foreign Affairs Secretary Enrique Manalo, said during a congressional …
Philippines open to new oil exploration talks with China -minister Read More »
By Mubasher Bukhari LAHORE, Pakistan (Reuters) – Vegetable and fruit prices have soared in markets across Pakistan as devastating rains ruin crops and disrupt supplies, an early sign of how the worst floods in decades are creating food shortages at a time of financial crisis. Pakistan’s 220 million people are already facing rampant inflation, with …
Vegetable prices spike in flood-hit Pakistan as food crisis looms Read More »
By Paul Lienert (Reuters) – Toyota Motor Corp will boost its planned investment in a new U.S. battery plant from $1.29 billion to $3.8 billion, partly in response to rising consumer demand for electric vehicles, the company said on Wednesday. Battery maker Panasonic will be a partner in the Liberty, North Carolina, plant through its …
Toyota triples planned investment to $3.8 billion in U.S. battery plant Read More »
By Chayut Setboonsarng BANGKOK (Reuters) – Thailand hopes to boost its tourism revenue to between 600 billion-700 billion baht ($16 billion-$19 billion) by year-end, by targeting high-spending groups like Indian wedding parties and honeymooners, a senior tourism official said. Famous for its white-sand beaches and nightlife, Thailand hopes to tap into “pent-up demand” from the …
Thailand looks to Indian weddings to boost tourism revenue Read More »
HONG KONG/SHANGHAI (Reuters) – Bank of China said on Wednesday it had increased mortgage lending in the first half to support the healthy growth of the property market. The remarks were made by bank chief Liu Jin at a news conference a day after the lender posted its half-year results. (Reporting by Xie Yu in …
Bank of China raised H1 mortgage lending to support market growth Read More »
By Julie Zhu HONG KONG (Reuters) -U.S. regulators have selected e-commerce majors Alibaba Group Holding Ltd and JD.com Inc among other U.S.-listed Chinese companies for audit inspection starting next month, people with knowledge of the matter said. The selection follows a landmark audit deal between Beijing and Washington on Friday allowing U.S. regulators to vet …
Exclusive-U.S. regulators to vet Alibaba, JD.com, other Chinese firms’ audits -sources Read More »
