By Alun John, Elizabeth Howcroft and Gertrude Chavez-Dreyfuss HONG KONG/LONDON/NEW YORK (Reuters) – Bitcoin plunged to its lowest level since July 2021 on Monday, dropping in tandem with slumping U.S. equity markets amid concerns about the Federal Reserve’s aggressive tightening path. The world’s largest cryptocurrency by market capitalization, bitcoin dropped to as low as $30,331.28, …
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar reached a new 20-year high on Monday as risk-off sentiment stemming in part from concerns over the Federal Reserve’s ability to combat high inflation boosted the greenback’s safe-haven appeal. The dollar has risen for five straight weeks as U.S. Treasury yields have climbed on expectations …
U.S. dollar touches 20-year high as markets shun risk Read More »
NEW YORK (Reuters) – Economic growth in emerging markets is set to slow “sharply” this quarter weighed by China, Russia and the spread of tighter monetary conditions, JPMorgan analysts said on Monday. “China’s adherence to its zero-COVID policy, Russia’s recession and tightening global financial conditions are set to pull EM growth sharply lower this quarter,” …
EM economic growth to slow sharply this quarter -JPMorgan Read More »
LONDON (Reuters) – BlackRock trimmed its exposure to Chinese stocks and government bonds, and Asian fixed income more widely, to neutral from a slight overweight, citing a worsening macroeconomic outlook as well as geopolitics. “China’s ties to Russia also have created a new geopolitical concern that requires more compensation for holding Chinese assets, we think,” …
BlackRock cuts back on China exposure on macro, geopolitical concerns Read More »
By Heekyong Yang and Ben Klayman SEOUL/DETROIT (Reuters) -Hyundai Motor Co plans to build a new electric-vehicle manufacturing plant in the United States and has held discussions with officials in Georgia, near existing plants for the Hyundai and Kia brands, people with knowledge of its plans told Reuters. Hyundai Motor confirmed an imminent plan for …
Exclusive-Hyundai plans U.S. EV plant, in talks with Georgia – sources Read More »
SHANGHAI (Reuters) -Aptiv stopped shipping over the weekend some parts from a Shanghai plant that supplies Tesla Inc and General Motors Co after COVID-19 infections were found among its workers, two people familiar with the matter said on Monday. The suspension of shipments from Aptiv could represent a setback to Tesla, which had planned to …
Aptiv Shanghai plant suspends some shipments after COVID cases – sources Read More »
SHENZHEN, China (Reuters) – American businesses are struggling to persuade overseas staff to join them in China due to the country’s strict COVID-19 control measures and ongoing lockdowns, the American Chamber of Commerce in China said on Monday. In a survey of 121 members, 49% said foreign workers are either significantly less likely to – …
US lobby fears ‘exodus’ of foreign staff in China due to COVID measures Read More »
TOKYO (Reuters) – U.S. investment funds Bain Capital and Carlyle Group are among multiple funds weighing the acquisition the microscope unit of Japan’s Olympus, Nikkei reported on Monday. The report added that the deal could be worth over 200 billion yen ($1.53 billion), quoting an unnamed analyst. ($1 = 131.1300 yen) (Reporting by Sakura Murakami, …
By Joori Roh SEOUL (Reuters) – South Korea is “positively considering” joining an Indo-Pacific economic pact planned by the United States, a government official said on Monday, after domestic media said the incoming administration had decided to join as a founding member. The Indo-Pacific Economic Framework (IPEF) could launch as soon this month, to fill …
South Korea’s incoming govt considers joining U.S. economic pact Read More »
SHANGHAI (Reuters) – A Chinese city has opened an investigation into a factory owned by automaker BYD over allegations that emissions from the plant were causing nosebleeds among children living nearby. Changsha city authorities said in a statement on Sunday it had sent an investigative team to BYD’s factory to look into the allegations about …
Chinese city probing BYD factory emissions over allegations of children’s nosebleeds Read More »
