By David Shepardson WASHINGTON (Reuters) -Five automakers including Ford Motor Co, Volkswagen AG and Honda Motor Co on Tuesday backed efforts by President Joe Biden’s administration to restore California’s ability to set its own strict tailpipe and zero-emission vehicle standards. Joined by BMW AG and Volvo Cars, the automakers in a court filing backed the …
Automakers back U.S. restoring California emissions authority Read More »
By Herbert Lash NEW YORK (Reuters) -World shares rebounded on Tuesday on the notion inflation may be peaking after Target Corp said it would offer deep discounts to clear inventory as consumers change their shopping habits, while Treasury yields fell after a surprise rate hike in Australia. Target, a major retail chain, cut its quarterly …
Stocks rebound on Target inflation angle; bond yields slip Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar index retreated from earlier highs and fell on Tuesday as Wall Street stocks erased initial declines amid growing hopes that inflation may have peaked, but the greenback managed to hit its highest level in 20 years against the Japanese yen. While a decline in Target …
Dollar dips as hopes rise that inflation has peaked Read More »
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan’s Prime Minister Shehbaz Sharif said on Tuesday that the annual budget this week will levy more taxes on real estate, which he termed as a non-productive sector. The South Asian nation of 220 million people is facing a balance of payment crisis with foreign reserves falling below $10 …
Pakistan’s annual budget to levy more taxes on real estate -PM Read More »
By Giuseppe Fonte and Ella Cao ROME/BEIJING (Reuters) – Italy’s prime minister, Mario Draghi, has vetoed a transfer of technology and software to China in a deal involving industrial robot maker EFORT Intelligent Equipment, according to a Shanghai filing and a source close to the matter. The rebuffed group earlier this year announced a deal …
Italy’s PM Draghi vetoes technology transfer to China Read More »
LONDON (Reuters) – Oil prices could soon hit $150 a barrel and go higher this year, with demand destruction likely by the end of the year, the CEO of global commodities trader Trafigura said on Tuesday. Brent oil futures hit their highest level since 2008 at nearly $140 a barrel in early March after major …
Trafigura CEO expects swift oil price jump to $150 a barrel Read More »
By Koustav Samanta SINGAPORE (Reuters) – Asia’s refining margins for diesel hit a fresh record on Tuesday but may start cooling off as early as next month as refiners ramp up output and the upcoming monsoon season threatens demand, traders and analysts said. Rising fuel prices worldwide have contributed to runaway inflation and generated big …
Red-hot Asia diesel margins may peak in June as supplies rise, monsoon nears Read More »
By Scott Murdoch and Selena Li HONG KONG (Reuters) – Citigroup Inc plans to hire around 3,000 new staff for its Asia institutional business in the next few years, sharpening its focus in a fast-growing region where it has exited consumer banking in most markets, its Asia Pacific chief executive said. The previously unreported staff …
(Reuters) – Australia’s ‘buy now, pay later’ shares (BNPL) dived on Tuesday after Apple launched its pay later service, at a time when surging interest rates, stubborn prices and geopolitical tensions have led to an emaciated global fintech industry. Australia-listed BNPL firms like Zip Co and Sezzle Inc, and those with exposure to the sector …
Australia’s BNPL stocks wilt after Apple announces entry Read More »
By Makiko Yamazaki and Yuki Nitta TOKYO (Reuters) – Mizuho Financial Group’s main banking unit plans to boost financing for startup firms, its chief executive said, aiming at addressing Japan’s scarcity of valuable new companies. “We view our business with startups as crucial, because we want to drive changes in Japan,” Masahiko Kato, the new …
Japan’s Mizuho Bank to bolster startup financing, CEO says Read More »
