News

September 15, 2021 (Reuters) – Apple supplier Foxconn’s electric vehicle project with Byton has been put on hold due to the Chinese startup’s worsening financial situation, the Nikkei newspaper reported on Wednesday https://s.nikkei.com/2YOxvxg, citing unidentified sources with knowledge of the matter. “The [Byton] project is not officially terminated yet, but it is very challenging to […]

September 15, 2021 By Elizabeth Culliford (Reuters) – Snapchat’s owner has hired a longtime online safety advocate as its first global head of platform safety, Snap Inc told Reuters on Wednesday, as the company continues to ramp up efforts around user safety and as social media firms face mounting global pressure from regulators and lawmakers. […]

While LinkedIn doubles down on creators to bring a more human, less manicured element to its networking platform for professionals, a company that has built a reputation for publishing primarily the more messy and human impressions of work life has made an acquisition that might help it compete better with LinkedIn. Glassdoor, the platform that […]

September 15, 2021 By Alun John HONG KONG (Reuters) – Asian shares fell on Wednesday as weak Chinese economic data reinforced worries about slowing growth globally as well as in the world’s second-biggest economy amid fraught nerves over a still-dominant pandemic and tapering of central banks’ stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan […]

September 15, 2021 HONG KONG (Reuters) – Rating agency Fitch said that numerous sectors could be exposed to heightened credit risk if China’s No.2 property developer Evergrande Group were to default, although the overall impact on the banking sector would be manageable. “We believe a default would reinforce credit polarisation among homebuilders and could result […]

September 15, 2021 By Richard Cowan and David Lawder WASHINGTON (Reuters) – U.S. tax code changes sought by Democrats in the House of Representatives to help fund $3.5 trillion in domestic investments would cut annual tax bills for Americans earning less than $200,000 a year through 2025, a congressional estimate showed on Tuesday. The bipartisan […]

September 15, 2021 By Hyonhee Shin SEOUL (Reuters) – The foreign ministers of South Korea and China held talks in Seoul on Wednesday amid concerns over North Korea’s recent missile test and stalled denuclearisation negotiations between Pyongyang and Washington. The meeting came days after North Korea said it successfully tested a new, strategic long-range cruise […]

September 15, 2021 (Reuters) -Amazon-backed Rivian’s first electric pickup truck has rolled off the production line, the company’s chief executive officer said on Tuesday. This makes Rivian the first to bring an electric pickup to the market, ahead of Tesla Inc, General Motors and others. “This morning our first customer vehicle drove off our production […]

September 15, 2021 By Martin Quin Pollard BEIJING (Reuters) -A Beijing court late on Tuesday ruled against the plaintiff in a high-profile Chinese sexual harassment case, saying there was insufficient evidence to support her claims, a decision likely to deal a blow to China’s #MeToo movement. Zhou Xiaoxuan, 28, in a series of social media […]

September 15, 2021 BEIJING (Reuters) – China’s new home prices grew at their slowest pace in eight months in August, official data showed on Wednesday, as a slew of measures to cool the country’s red-hot property market took a toll on demand in the world’s second-largest economy. Average new home prices in China’s 70 major […]

September 15, 2021 BEIJING (Reuters) – China’s industrial output grew 5.3% in August from the same period a year ago, narrowing from a 6.4% increase in July, while retail sales growth slowed significantly, official data showed on Wednesday. The growth of industrial production missed expectations for a 5.8% year-on-year increase in a Reuters poll of […]

September 15, 2021 By Elizabeth Dilts Marshall NEW YORK (Reuters) – Global equity markets and U.S. bond yields fell on Tuesday after data showed inflation cooling in the Unites States, raising fresh questions on when the U.S. central bank will begin tapering its asset purchases. MSCI’s world stocks benchmark fell 0.33%, and all 11 major […]

September 15, 2021 By Kevin Buckland TOKYO (Reuters) – The dollar drifted within recent ranges against major peers on Wednesday after softer-than-expected U.S. inflation raised doubts about a taper of Federal Reserve stimulus this year. The dollar index stood at 92.632, little changed from Tuesday, when it dropped following the inflation data only to recover […]

September 15, 2021 By Jessica Jaganathan SINGAPORE (Reuters) – Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen. Brent crude oil rose 39 cents, or 0.5%, […]

September 15, 2021 (Reuters) – Telecoms company AT&T said it anticipates that the pending deal to combine WarnerMedia’s media assets with Discovery Inc will close by the middle of 2022. AT&T is in the process of unwinding its expensive media investments to focus on its original business of providing phone and internet services. It is […]

September 15, 2021 (Reuters) – U.S. cryptocurrency exchange Coinbase Global Inc said on Tuesday it increased the size of its debt offering to about $2 billion from previously announced $1.5 billion, citing market interest. The offering will be used to invest in product development and potential mergers and acquisitions, the company said. The fundraising plans […]

Rivian vehicles have received certifications from three agencies, the final hurdle that allows the electric automaker to sell and deliver its R1T pickup truck and R1S SUV in all 50 U.S. states. Rivian confirmed to TechCrunch in an email that the vehicles are fully certified by the National Highway Traffic Safety Administration, the Environmental Protection […]

September 15, 2021 (Reuters) – An advisory group to the World Anti-Doping Agency (WADA) will review whether cannabis should remain a banned substance, a move that comes after American track and field star Sha’Carri Richardson missed the Tokyo Games after testing positive for it. The scientific review will be initiated next year, WADA said on […]

September 15, 2021 SYDNEY (Reuters) – A measure of Australian consumer sentiment bounced in early September amid hopes harsh coronavirus restrictions would soon be eased as the pace of vaccinations stepped up markedly across the states. The Westpac-Melbourne Institute index of consumer sentiment released on Wednesday rose 2.0% in September, recouping some of August’s 4.4% […]

September 15, 2021 SYDNEY (Reuters) – Australia saw a 13% jump in cyber crime reports in the past year, the government said on Wednesday, with about one incident in four targeting critical infrastructure and essential services as many work from home during the COVID-19 pandemic. The Australian Cyber Security Centre (ACSC) received one cybercrime report […]