News

September 27, 2021 BEIJING (Reuters) – China’s Geely aims to set up 5,000 battery swapping stations for electric vehicles (EV) globally by 2025, as sales grow in the world’s biggest vehicle market, the automaker said in a statement on Sunday. A battery swapping station allows drivers to change car batteries to power the rides. Chinese […]

September 27, 2021 BEIJING (Reuters) – Chinese cryptocurrency exchange Huobi Global said on Sunday it had stopped taking new mainland customers from Friday and would end contracts with mainland clients by the end of the year to comply with local regulations. China’s regulators intensified a crackdown https://ift.tt/3CHEBSR on Friday, banning cryptocurrency transactions and mining, clarifying […]

September 27, 2021 PARIS (Reuters) – French bank Credit Agricole has offered 100 million euros ($117 million) to acquire auto leasing and computer equipment company Olinn, business daily Les Echos reported on Sunday. Olinn has annual revenues of 175 milion euros and serves 5,300 clients in Europe helping them finance their computer equipment, mobile phones, […]

September 27, 2021 SYDNEY (Reuters) – Digital money transfer group Wise Plc will join an Australian payments network which should allow transfers to be settled in the country faster and at lower cost, Chief Executive Officer Kristo Kaarmann said on Friday. The company will become a direct participant and shareholder in Australia’s New Payments Platform […]

September 27, 2021 (Reuters) -Alphabet Inc’s Google will take a smaller cut when customers buy software from other vendors on its cloud marketplace, CNBC reported on Sunday. The Google Cloud Platform is cutting its percentage revenue share to 3% from 20%, CNBC said, citing a person familiar with the matter. https://cnb.cx/2XZp7ep “Our goal is to […]

September 27, 2021 By Foo Yun Chee BRUSSELS (Reuters) – The U.S.-EU Trade and Technology Council (TTC) will give Europe more clout and set standards and rules for the 21st century, the EU’s trade and digital chiefs said, underscoring global concerns about China’s growing power. The comments by Valdis Dombrovskis and Margrethe Vestager came ahead […]

September 27, 2021 TORONTO (Reuters) -Canada’s “eyes are wide open” when it comes to normalizing its relationship with China, Foreign Minister Marc Garneau said on Sunday, two days after the release of a Huawei executive following almost three years of house arrest in Vancouver. Huawei Technologies Co Ltd Chief Financial Officer Meng Wanzhou, the daughter […]

September 27, 2021 BERLIN (Reuters) – German sportswear company Puma has the potential to double its sales to more than 10 billion euros ($11.71 billion) in the longer term, Chief Executive Bjorn Gulden was quoted as saying on Monday. Gulden told the Handelsblatt newspaper that Puma is doing well in the third quarter and is […]

September 27, 2021 (Removes repeated phrase in para 3) GENEVA (Reuters) -China lambasted a World Trade Organization (WTO) ruling in a row with the United States over Washington’s measures to limit the import of solar panel cells, calling it “erroneous and dangerous” on Monday. A WTO panel handed a victory to the United States earlier […]

September 27, 2021 SINGAPORE (Reuters) -Royal Bank of Canada’s BlueBay Asset Management has joined BlackRock in accumulating credit exposure to ailing developer China Evergrande in recent months, according to Morningstar, while HSBC and TCW funds have closed positions. Morningstar’s analysis, published on Sept. 24, also showed that UBS and funds at London-based Ashmore Group retained […]

September 27, 2021 (Reuters) -Several Apple Inc and Tesla Inc suppliers have suspended production at some Chinese factories for a number of days to comply with tighter energy consumption policies, putting supply chains at risk in the peak season for electronics goods. Two major Taiwanese chipmakers, however, said their China facilities are operating as normal. […]

September 27, 2021 LONDON (Reuters) – British fashion house Burberry deconstructed its camel trench coat for its women’s spring line on Monday, removing sleeves and in some cases, its back. The collection, called “Animal Instinct”, saw Chief Creative Officer Riccardo Tisci reinvent the label’s trademark piece, adding short capes, turning lapels into long scarves, cutting […]

Car enthusiasts have a history of electric-car hesitancy. While some are fully on board with electrification and hybridization, there are still some petrol holdouts, especially at the rarified and pointy end-of-the-price spectrum like Lamborghini. The push for electrification and hybrid powertrains poses a significant challenge to the carmaker known for creating striking, bespoke containers for […]

September 27, 2021 (Replaces chart with correct one) A look at the day ahead from Danilo Masoni. The main takeaway from Sunday’s German election is that coalition talks to form the first post-Merkel administration could take weeks, if not months to conclude. The Social Democrats (SPD) and the conservatives both are seeking to lead a […]

September 27, 2021 By Yoruk Bahceli and Dhara Ranasinghe (Reuters) – The purse strings have been loosened and will stay that way, no matter who heads Germany’s new government. That’s the verdict from investors who see potential gains for segments such as green finance alongside modestly higher bond yields. After Finance Minister Olaf Scholz’s centre-left […]

September 27, 2021 By Jamie McGeever ORLANDO, Fla. (Reuters) – Ahead of the Fed’s policy meeting last week, hedge funds sold Treasuries, positioned for a steeper 2s/10s yield curve, and increased their bullish bets on the dollar. Going by markets’ initial reaction to the Fed’s hawkish turn, the combination play was perfectly timed. The question […]

September 27, 2021 By Devik Jain (Reuters) -The Nasdaq slipped on Monday as investors swapped technology heavyweights for stocks linked to economic growth amid increasing confidence in a recovery, helping the Dow mark small gains. Seven of the 11 major S&P sectors advanced, with energy jumping 3.5%, followed by financials and industrials. Banks rose 2.2%, […]

September 27, 2021 DUBAI (Reuters) -Qatar Airways Group on Monday reported a doubling of annual losses to 14.9 billion riyal ($4.1 billion), hit by the COVID-19 collapse in long-haul travel and aircraft impairment charges. The state-owned group, which includes the airline and other aviation assets, said it booked a one-off impairment of 8.4 billion riyal […]

September 27, 2021 By Nick Carey and Giulio Piovaccari OXFORD (Reuters) – Speed has always been paramount for supercar makers, and now they’re in the race of their lives to go electric before climate policy cuts their combustion engines. That’s why the likes of Ferrari and Mercedes-Benz are turning to startups such as Oxford-based electric […]

September 27, 2021 (Reuters) -The Federal Reserve has said it will start to reduce its bond purchases as soon as November if the economy continues on its current track. Some officials will watch the September jobs report, due Oct. 8, for a final bit of evidence that the labor market has achieved “substantial further progress” […]