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By Stephen Nellis SAN FRANCISCO/MUNICH (Reuters) – U.S. semiconductor company Qualcomm on Tuesday said it will supply chips to power in-car infotainment systems to luxury automakers Mercedes and BMW. Qualcomm is the leading supplier of the chips used in smartphones, a market that has slumped over the past year. But the company is also working …

Qualcomm to supply BMW and Mercedes with chips for displays, voice features Read More »

By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday kept interest rates steady for a third month at the last meeting chaired by Governor Philip Lowe, encouraging speculation the tightening cycle was over as policymakers indicated they have a firmer grip on prices. Wrapping up its September policy meeting, the Reserve Bank of Australia …

RBA holds steady as Lowe bows out, markets bet tightening cycle over Read More »

(Reuters) – Australia’s corporate regulator on Tuesday said it was taking Westpac Banking Corp to court over its alleged failure to respond to customers’ financial hardship notices between 2015 and 2022 within the required administrative time frame. Under Section 72 of Australia’s National Credit Code, an individual with overdue payments can request a change to …

Australia sues Westpac for negligence over financial hardship notices Read More »

BOGOTA (Reuters) – Colombia’s government and industry associations called on the central bank to lower interest rates on Monday and urged business leaders to resume investment decisions, in a bid to shore up the economy. Latin America’s fourth-largest economy expanded 0.3% in the second quarter, much less than expected. The central bank has forecast growth …

Colombia government, business leaders call for interest rate cut Read More »

By Jan Schwartz MUNICH (Reuters) – Ford will push back series production of its long-awaited SUV Explorer model at its Cologne site by around six months to wait for a new generation of Volkswagen battery technology to be available, its Germany chief said on Monday. Production will now begin in the summer of next year, …

Ford pushes back Explorer series production in Europe Read More »

By Nell Mackenzie LONDON (Reuters) – Hedge funds ditched short bets against U.S. regional banks as of the end of August and turned bullish on the broader U.S. financial sector, according to a Goldman Sachs note, just as bank stock prices began to rise. U.S. financial services companies including banks, trading firms and those working …

Hedge funds drop short trades on U.S. regional banks – Goldman Read More »

By Scott Murdoch and Poonam Behura (Reuters) – Shares of Australia’s Liontown Resources shot up 11.5% after the lithium developer’s board backed on Monday a refreshed A$6.6-billion ($4.3-billion) bid from Albemarle Corp, the world’s biggest producer of the battery material. Emerging Australian lithium companies are experiencing a surge in buyouts as their lower valuations and …

Australian lithium developer Liontown backs $4.3 billion Albemarle bid Read More »

(Reuters) -Australia’s Qantas apologised for its service standards falling short and acknowledged it was suffering reputational damage, after the country’s competition regulator sued it for allegedly selling tickets for thousands of cancelled flights. Last week, the Australian Competition and Consumer Commission (ACCC) said in a court filing that the carrier broke consumer law when it …

Qantas apologises after Aussie regulator alleges ticket sale for cancelled flights Read More »

SYDNEY (Reuters) -Mediation talks to avert strikes at U.S. energy major Chevron’s two major liquefied natural gas (LNG) facilities in Australia began on Monday, aimed at averting strikes scheduled for Thursday should the parties fail to reach a deal. A senior member of the Fair Work Commission (FWC), Australia’s industrial umpire, is hosting talks in …

Chevron, unions begin mediation talks to avert Australia LNG strike Read More »