By Nick Carey, Paul Lienert and Sarah McFarlane LONDON/DETROIT (Reuters) -For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents, forcing …
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Business News
Did SVB break the Fed? Officials mull risks of more rate increases
by Reutersby ReutersBy Howard Schneider WASHINGTON (Reuters) – At an early January meeting of the Virginia Bankers Association, executives were already nervous that Federal Reserve interest rate increases were making it hard …
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By Peter Hobson LONDON (Reuters) – Gold traded at record highs in some currencies on Monday and neared all-time peaks in U.S. dollar terms after banking sector turmoil sent prices …
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Business News
Singapore to tighten shoe recycling controls after Reuters report
by Reutersby ReutersSINGAPORE (Reuters) – A Singapore shoe recycling project will be subject to surprise inspections following a Reuters investigation that found footwear it donated to the scheme was not recycled, Singapore’s …
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Business News
Pinduoduo owner’s revenue falls short on weak China consumer spending
by Reutersby ReutersBy Chavi Mehta and Casey Hall (Reuters) -PDD Holdings Inc, which owns discount e-commerce platforms Pinduoduo and Temu, missed expectations on Monday for fourth-quarter revenue as China’s post-reopening consumer recovery …
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US and World News
Japan plans $75 billion investment across Indo-Pacific to counter China
by Reutersby ReutersBy Sakura Murakami and Krishn Kaushik TOKYO/NEW DELHI (Reuters) – Japan’s Prime Minister Fumio Kishida on Monday announced a new plan to promote an open and free Indo-Pacific, promising billions …
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Business News
Indonesia sets aside $455 million to subsidise electric motorcycle sales
by Reutersby ReutersJAKARTA (Reuters) – Indonesia will allocate 7 trillion rupiah ($455.88 million) in state funds to subsidise electric motorcycle sales through 2024, officials said on Monday, as it pushes mass adoption …
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By John Revill ZURICH (Reuters) -Credit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and central bank support, a third of the …
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By Panarat Thepgumpanat and Chayut Setboonsarng BANGKOK (Reuters) – Thailand dissolved its parliament on Monday to clear the way for an election in May, a vote set to reignite a …
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US and World News
Top U.S. State Dept diplomat for Europe to step down to focus on family
by Reutersby ReutersBy Humeyra Pamuk WASHINGTON (Reuters) – The top U.S. diplomat to Europe Karen Donfried will step down to focus on her family, a State Department spokesperson said on Monday, leaving …
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US and World News
Russia defies Putin arrest warrant by opening its own case against ICC
by Reutersby ReutersBy Mark Trevelyan (Reuters) -Russia’s top investigative body said on Monday it had opened a criminal case against the International Criminal Court prosecutor and judges who issued an arrest warrant …
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Business News
Analysis-UBS swallows doomed Credit Suisse, casting shadow over Switzerland
by Reutersby ReutersBy John O’Donnell and Stefania Spezzati LONDON (Reuters) -UBS Group has emerged as Switzerland’s one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a …
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Business News
SVB Financial Group files ‘First Day Motions’ in bankruptcy court
by Reutersby Reuters(Reuters) – SVB Financial Group on Monday filed a number of “First Day Motions” to seek authorization from a bankruptcy court to support the operations of the company’s SVB Capital …
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Business News
Stunned Credit Suisse staff fear uncertain future despite UBS rescue deal
by Reutersby ReutersBy Yantoultra Ngui, Summer Zhen and Selena Li SINGAPORE/HONG KONG (Reuters) – Credit Suisse staff arriving to work in Asian financial centres on Monday morning fretted about retrenchments and retaining …
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Business News
Credit Suisse rescue presents ‘buyer beware’ moment for bank bondholders
by Reutersby ReutersBy Tom Westbrook SINGAPORE (Reuters) – The rudest shock in the rushed deal to save embattled Swiss lender Credit Suisse Group AG was reserved for the holders of the bank’s …
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By Eduardo Baptista BEIJING (Reuters) – Baidu’s unveiling of its Ernie bot last week thrust the Chinese search engine giant into a race against global tech peers Microsoft and Google …
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FRANKFURT (Reuters) – A Swiss orchestrated rescue of Credit Suisse by rival UBS has failed to calm nerves as investors worry which banks could be next in line. Here’s a …
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FRANKFURT (Reuters) – Germany’s economy will shrink again in the first quarter of the year and underlying inflation could prove to be stubborn even if overall price growth is likely …
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Business News
IPC CEO urges Canada to offer more funding to build carbon capture
by Reutersby ReutersBy Nia Williams (Reuters) -International Petroleum Corp, the first foreign oil company to sanction a project in Canada’s oil sands in more than a decade, could add carbon capture and …
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Business News
Kremlin tells officials to stop using iPhones – Kommersant newspaper
by Reutersby ReutersMOSCOW (Reuters) -The Kremlin told officials involved in preparations for Russia’s 2024 presidential election to stop using Apple iPhones because of concerns that the devices are vulnerable to Western intelligence …
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By Paritosh Bansal and Ira Iosebashvili (Reuters) -With the U.S. and European banking crisis wreaking havoc in global markets, some financial industry executives are calling on the Federal Reserve to …
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Business News
Euro zone trade deficit flat in Jan despite increased energy import spend
by Reutersby ReutersBRUSSELS (Reuters) – The euro zone trade deficit was little changed in January from a year earlier, with sharply higher cost of energy imports outweighing a pick-up of manufactured goods …
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Business News
Ex-Goldman CEO Blankfein says bank rout may depress growth, even with robust capital
by Reutersby ReutersBy Lananh Nguyen NEW YORK (Reuters) -Turmoil in the banking sector will probably weigh on economic growth as lenders become more conservative, former Goldman Sachs Group Inc CEO Lloyd Blankfein …
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A look at the day ahead in European and global markets from Wayne Cole During the last big banking crises, an analyst was asked by a TV anchor what position …
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A look at the day ahead in U.S. and global markets from Mike Dolan Another weekend of financial firefighting has doused the whole interest rate horizon as the banking blaze …