Tesla clears key China assisted-driving hurdle with Baidu deal, Bloomberg News says
(Reuters) - Tesla is set to clear a key hurdle to introduce its advanced assisted driving features in China by partnering with Baidu for mapping and navigation functions, Bloomberg News reported on Monday. (Reporting by Angela Christy in Bengaluru...
1h ago
Baidu, Tesla agree on mapping deal for FSD in China, sources say
BEIJING (Reuters) - Baidu, China's major internet search company, reached an agreement with Tesla to grant the car company access to its mapping license for data collection on China's public roads, two people familiar with the matter said. The deal...
1h ago
Morning Bid: The yen's mysterious move
A look at the day ahead in European and global markets from Rae Wee Traders in Europe will be waking up to a nervy currency market after the yen's sharp reversal from its slide past 160 per dollar on Monday had some speculating Tokyo could be behind th...
1h ago
Boss of battery giant CATL visits Elon Musk's hotel in Beijing - Reuters witness
BEIJING (Reuters) - The chairman of Chinese battery giant CATL visited a hotel in Beijing on Monday where Elon Musk is staying, after the Tesla CEO arrived in the Chinese capital a day ago on an unannounced visit. Robin Zeng came out of an elevator...
2h ago
Redstones, Ellison offer concessions to Paramount investors, Bloomberg News reports
(Reuters) - The Redstone family and Skydance Media CEO David Ellison have both made concessions to make a potential change in control at Paramount Global more appealing the company's other investors, Bloomberg News reported on Sunday. Paramount is ...
3h ago
Asia shares rise as Fed looms large; yen crumbles below key level
By Rae Wee SINGAPORE (Reuters) - Asian stocks got off to a positive start on Monday ahead of the Federal Reserve's policy meeting later in the week, while the dollar broke past the psychologically key level of 160 yen for the first time in decades....
3h ago
Dollar a tad softer as markets wait for Fed
By Vidya Ranganathan SINGAPORE (Reuters) - The U.S. dollar was a shade softer in early deals on Monday, thinned by a holiday in Japan, though the yen, euro and sterling stayed near the bottom of the ranges hit during Friday's volatile session. Japa...
4h ago
Norway wealth fund falls short on its climate ambitions, NGO says
OSLO (Reuters) - Norway's $1.6 trillion sovereign wealth fund, the world's largest, falls short on its climate ambitions by failing to back multiple shareholder proposals pushing oil companies to cut their greenhouse gas emissions, an NGO report sa...
4h ago
SK Innovation expects solid refining margins to continue in Q2
SEOUL (Reuters) -SK Innovation Co Ltd, owner of South Korea's top refiner SK Energy, said on Monday it expects solid refining margins to continue in the second quarter backed by firm demand. The company posted an operating profit of 625 billion won ($...
4h ago
Oil prices pare gains on U.S. inflation concerns
By Colleen Howe BEIJING (Reuters) - Oil prices fell in early Asian trading on Monday, reversing gains from Friday as U.S. inflation data further dimmed the prospects of interest rate cuts anytime soon and boosted the dollar, which hurts oil demand....
4h ago
Exclusive-China firms go 'underground' on Russia payments as banks pull back
(Reuters) - An appliance maker in southern China is finding it hard to ship its products to Russia, not because of any problems with the gadgets but because China's big banks are throttling payments for such transactions out of concern over U.S. sa...
5h ago
Star Entertainment executive chair Foster steps down, adds to management exodus
(Reuters) - Star Entertainment said on Monday its Executive Chairman David Foster will leave step down just weeks after being appointed to the role, adding to an exodus of senior management at the beleaguered Australian casino operator. The managem...
5h ago
British motor premiums see modest rise in first quarter of 2024
(Reuters) - The cost of car insurance in the UK rose 1% in the first quarter, a survey showed on Monday, indicating an easing in the rise of premium seen last year. The data from the Association of British Insurers' (ABI) Motor Insurance Tracker sh...
6h ago
Morning Bid: Helter-skelter yen, US tech tonic
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Asian stocks should open on Monday buoyed by Friday's tech-led surge on Wall Street, while investors will be scrambling to make sense of the latest twist in the Japanese yen's ...
6h ago
Insurer AIA's Q1 new business value rises 31%, announces $2 billion buyback
(Reuters) -Hong Kong-based insurer AIA Group on Monday posted a 31% rise in its first-quarter value of new business (VONB) on a constant exchange currency basis helped by strong performance across segments, and announced an additional $2 billion share ...
6h ago
Singtel expects to report loss for 2024 second-half; flags $2.3 billion impairment
(Reuters) - Singapore Telecommunications said on Monday it expects to report a net loss for second-half of fiscal year 2024, as it flagged exceptional non-cash impairment provisions of S$3.1 billion ($2.28 billion) for the period. The company also ...
6h ago
Nigeria secures $600 million Maersk investment in seaport infrastructure
ABUJA (Reuters) - Nigeria secured a $600 million investment in seaport infrastructure from Danish shipping company A.P. Moller-Maersk, the presidency said in a statement on Sunday. The investment was secured during a meeting between President Bola ...
7h ago
L'Occitane's billionaire owner close to possible $7 billion buyout bid, Bloomberg reports
(Reuters) -The billionaire owner of L'Occitane International is close to making a proposal to take the French skincare firm private as early as Monday in a deal that could value it at about $7 billion including debt, Bloomberg News reported. Chairman R...
9h ago
Deutsche Bank to assess options for possible Postbank settlement
FRANKFURT (Reuters) - Deutsche Bank said on Sunday that it would "carefully assess" options for a possible settlement in litigation over its takeover of Postbank that has required it to make provision for claims of up to 1.3 billion euros ($1.39 ...
9h ago
Blackstone to make improved bid for Hipgnosis, Sky News reports
(Reuters) - Private equity giant Blackstone is preparing to lodge an improved bid for Hipgnosis Songs Fund which owns the music rights of artists including Shakira and Blondie, Sky News reported on Sunday. Blackstone's bid will trump independent mu...
14h ago
Exclusive-Chinese brokerage CICC cutting dealmakers' base pay by 25%, sources say
By Selena Li and Julie Zhu HONG KONG/SHANGHAI (Reuters) - China International Capital Corp (CICC) is cutting the base pay of onshore investment bankers by as much as 25%, three sources said, in a major effort to reduce costs amid volatile markets ...
20h ago
Thai ex-executive Pichai named finance minister, faces growth challenge
By Orathai Sriring BANGKOK (Reuters) - Thai former energy executive Pichai Chunhavajira was named the country's finance minister on Sunday, facing a tough task to revive Southeast Asia's second-largest economy. Pichai, 75, an adviser to Prime Minis...
23h ago
Hong Kong economy to grow 2.5%-3.5% in Q1, financial chief says
HONG KONG (Reuters) - Hong Kong's gross domestic product (GDP) is expected to grow between 2.5% and 3.5% for the first quarter, maintaining moderate growth for a fifth consecutive quarter, the city's finance chief said on Sunday. January-March GDP,...
Apr 28, 2024
Exclusive-Elon Musk heading to China for visit to Tesla's second-biggest market, sources say
SHANGHAI (Reuters) -Tesla CEO Elon Musk was on a flight heading to Beijing on Sunday to kick off a surprise trip in the electric vehicle maker's second-biggest market, according to two people with knowledge of the matter. Musk is seeking to meet sen...
Apr 28, 2024
Mercedes-Benz says US DOJ ended investigation into diesel emissions scandal
BERLIN (Reuters) - The U.S. Department of Justice has closed its probe into the Mercedes-Benz diesel emissions scandal and the car manufacturer is no longer facing charges, the company said on Saturday. Mercedes-Benz cooperated fully with the DOJ, ...
Apr 27, 2024