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September 24, 2021 BERLIN (Reuters) – Mercedes-Benz customers are facing waiting times of more than a year for their orders because of interruptions to production caused by chip shortages, Daimler Chief Executive Ola Kallenius told a German newspaper in an interview on Friday. “Demand is huge at Mercedes-Benz and at the same time there are […]

September 24, 2021 MILAN (Reuters) -Generali’s appointments committee recommended that the board finalise a slate of nominees for its renewal keeping Philippe Donnet as CEO for another term, three sources close to the situation told Reuters on Friday. Generali’s board meets on Monday to discuss whether to submit its own slate of nominees, including Donnet, […]

September 24, 2021 NEW YORK (Reuters) – A deadline passed on Thursday for China Evergrande, the world’s most indebted property company, to pay $83.5 million in interest on a dollar bond. With $305 billion in liabilities, Evergrande is struggling to meet debt obligations and global markets are watching for signs of default. Here is a […]

Is it just us or has everyone’s calendar hit warp factor 9? We can’t believe there are only 34 days left before TC Sessions: SaaS 2021 kicks into high gear on October 27. If you don’t have your pass yet, the clock on early-bird savings is winding down fast. Time to bump that quick task […]

September 24, 2021 (Reuters) -The Federal Reserve should start reducing its support for the economy in November and could start raising interest rates by the end of next year should labor markets continue to improve as expected, Cleveland Federal Reserve Bank President Loretta Mester said on Friday. The Fed promised to keep buying $120 billion […]

September 24, 2021 By Lucia Mutikani WASHINGTON (Reuters) -Sales of new U.S. single-family homes increased for a second straight month in August, but demand for housing has probably peaked after a COVID-19 pandemic-fueled buying frenzy. New home sales rose 1.5% to a seasonally adjusted annual rate of 740,000 units last month, the Commerce Department said […]

September 24, 2021 LONDON (Reuters) -Climate change protesters on Friday blocked the entrance and exit to the Port of Dover, Europe’s busiest trucking port, after causing disruption earlier this month to Britain’s busiest motorway. About 40 activists from the environmental group Insulate Britain briefly brought to a standstill all traffic to and from the Port […]

September 24, 2021 By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Worries surrounding debt-strapped property developer China Evergrande have put investors on guard for evidence that the crisis may be spilling over into broader markets. Evergrande, once China’s top-selling property developer, owes $305 billion, has run short of cash, and investors are worried a collapse could […]

September 24, 2021 By Fergal Smith TORONTO (Reuters) – Prime Minister Justin Trudeau risks further fueling Canada’s hot inflation if he presses ahead with spending plans outlined during the election campaign, which could pressure the Bank of Canada to hike interest rates sooner than planned. Trudeau’s Liberals have pledged C$78 billion ($61.6 billion) in new […]

September 24, 2021 WASHINGTON (Reuters) – U.S. President Joe Biden on Friday said he recognized spending bills to address infrastructure and other spending were at a standstill in Congress despite his fellow Democrats’ majorities, but said he was confident the measures would pass. Speaking to reporters at the White House, Biden acknowledged his economic plan […]

The 2022 budget proposed by President Joe Biden would redistribute income, hitting high-income earners with tax increases and providing refundable tax credits to low- and middle-income Americans. Ads from the conservative Club for Growth targeting nine vulnerable Democrats and one centrist Republican in the House, however, distort the impact of the Biden plan on taxpayers, […]

September 24, 2021 (Reuters) – China’s most powerful regulators have intensified the country’s crackdown on cryptocurrencies with a blanket ban on all crypto transactions and crypto mining. The move sent bitcoin and other major coins lower, as well as pressurising crypto and blockchain-related stocks. WHAT’S NEW? Ten Chinese agencies, including the central bank and banking, […]

September 24, 2021 By Howard Schneider WASHINGTON (Reuters) -The U.S. job market has already met the Federal Reserve’s benchmark test to reduce it monthly bond purchases, Kansas City Fed President Esther George said, and the central bank should now turn to discussion of how its massive bondholdings may complicate its eventual decision about when to […]

September 24, 2021 SHANGHAI (Reuters) -China’s HNA Group, once one of the country’s most acquisitive conglomerates, said on Friday that its chairman and its chief executive had been taken away by police due to suspected criminal offences. The company, which was placed in bankruptcy administration in February, said in a statement on its official WeChat […]

September 24, 2021 By Andrius Sytas VILNIUS (Reuters) – Lithuania’s Defence Ministry is drafting legislation to ban state institutions from purchasing “untrustworthy” equipment, after finding a censoring feature in a Chinese smartphone company’s flagship phone, Margiris Abukevicius, deputy minister at the Defence Ministry said. The censoring capability in Xiaomi’s Mi 10T 5G phone software has […]

September 24, 2021 By Lewis Krauskopf and Tommy Wilkes LONDON (Reuters) – World stocks largely slipped on Friday as worries over fallout from debt-laden China Evergrande persisted, while bond yields in Europe and the U.S. pushed higher after hawkish stances from central banks. MSCI’s gauge of stocks across the globe shed 0.28% after three days […]

September 24, 2021 (Reuters) – Days after reaching broad consensus that labor markets have healed enough for the Federal Reserve to soon begin withdrawing support, Fed Chair Jerome Powell on Friday convened a listening session with a broad range of economic players to learn more about the still uncertain outlook. Powell’s prepared remarks did not […]

September 24, 2021 By Lawrence White and Carolyn Cohn LONDON (Reuters) – HSBC and Standard Chartered could face spillover damage to their profits and balance sheets from the debt crisis enveloping China Evergrande Group even though the two banks say they have limited their direct exposure, analysts have warned. Other banks and insurers could also […]

September 24, 2021 By Katanga Johnson WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) said on Friday that Britain’s WPP had agreed to pay more than $19 million to resolve charges that it violated the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). The world’s […]

September 24, 2021 AMSTERDAM (Reuters) – A woman whose daughter was among 298 people who died when a Malaysia Airlines jet was shot down over Ukraine said on Friday she wanted to look the suspects in the eye and “make them feel our loss and pain”. Relatives of the victims of flight MH17, brought down […]