UAW's influence tested in pivotal Alabama Mercedes-Benz factory union vote
By Nora Eckert VANCE, Alabama (Reuters) - The outcome of a vote on Friday by workers at a Mercedes-Benz factory in Alabama will be a key referendum on whether the United Auto Workers can maintain momentum in the historically anti-union South. The U...
1h ago
Take Five: The good, the bad and the ugly
(Reuters) - Markets are hoping for evidence that will solidify a brightening global economic outlook, though rising trade tensions are casting a cloud, while G7 finance ministers gather in Italy. AI darling Nvidia reports results, London has its si...
2h ago
Daimler Truck and Volvo intend to form software joint venture
(Reuters) - German truck maker Daimler Truck and Sweden's Volvo intend to form a joint venture to develop a software-defined vehicle platform and dedicated truck operating system, the two companies said on Friday. The new company would be a 50/50 j...
2h ago
Xpeng says US tariffs on Chinese EV detrimental to meeting carbon neutrality
HONG KONG (Reuters) - Chinese electric vehicle maker Xpeng said on Friday new U.S. tariffs on Chinese electric vehicles (EV) are detrimental to achieving carbon neutrality and green energy transition. Brian Gu, Xpeng vice chairman and president, al...
2h ago
Exclusive-Shanghai compiles data list eligible for faster overseas transfer, document shows
SHANGHAI (Reuters) - Shanghai has compiled a list of data that can be transferred overseas without security assessments, according to a government document seen by Reuters, a much anticipated move as China tries to lure foreign investment to boost ...
2h ago
Exclusive-Musk pushes plan for China data to power Tesla's AI ambitions
By Fanny Potkin SHANGHAI/SINGAPORE (Reuters) - Tesla is pushing ahead with plans to power the global development of its self-driving system with data from China that could be processed within the country, part of a strategic shift by Elon Musk, acc...
3h ago
Hedge funds play a weak Japanese yen
By Nell Mackenzie LONDON (Reuters) - Pressure on Japan to prop up a weak yen may have ebbed, but currency weakness remains a headache for Tokyo. The yen is down 9.4% against the dollar so far this year, and looks set for a fourth year of declines. ...
3h ago
China to let local governments buy homes, cut mortgage rates to revive property sector
(Reuters) - China will allow local government authorities to buy some homes at "reasonable" prices to provide affordable housing, Vice Premier He Lifeng told an online meeting on housing policy on Friday, the official news agency, Xinhua, said. Chi...
3h ago
Technology leads European shares lower, rate cut doubts loom
(Reuters) - European shares kicked off Friday's trade on a weaker note, led by declines in technology and real-estate companies, as investors looked forward to euro zone inflation data for some clarity on the path for interest rate cuts beyond June...
3h ago
Analysis-BOJ may face more pressure to hike rates as weak yen hits consumer spending
By Leika Kihara TOKYO (Reuters) - Japan's weak consumption may heighten, rather than tame, already growing political pressure on the central bank to raise interest rates to slow the yen's declines blamed for hurting households via higher import cos...
3h ago
Column-Serene euro debt markets still leave ECB queasy: Mike Dolan
By Mike Dolan LONDON (Reuters) - Becalmed by a likely interest rate cut as soon as next month, euro zone government bond markets seem serene - but the European Central Bank continues to fret about leftfield shocks. Cosseted largely by more than a d...
4h ago
Japan inflation likely slowed again, may ease cost pressure - Reuters poll
By Tetsushi Kajimoto TOKYO (Reuters) - Japan's core consumer inflation probably slowed for a second straight month in April from a year earlier, a Reuters poll of 18 economists showed on Friday, likely easing cost-push pressure. The core consumer p...
4h ago
Foreigners sold Asian bonds in April amid firm dollar, Fed uncertainty
(Reuters) - Foreign investors were net sellers of Asian bonds for a second straight month in April as a strong U.S. dollar and uncertainties around the Federal Reserve's interest rate cuts dampened appetite. Investors net sold bonds worth $1.91 bil...
4h ago
ABB buys Siemens's wiring accessories business in China
ZURICH (Reuters) - ABB has agreed to buy the wiring accessories business of German rival Siemens in China, the Swiss engineering group said on Friday. The acquisition will broaden ABB's market reach and complement its regional customer offering wit...
5h ago
The Dow's climb to a record 40,000 points
By Saqib Iqbal Ahmed and Lewis Krauskopf NEW YORK (Reuters) - The Dow Jones Industrial Average, a laggard among the major U.S. stock indexes this year, got its moment in the spotlight on Thursday as it briefly broke above 40,000 points for the firs...
5h ago
Departing Boeing CEO's board status faces Friday vote by shareholders
(Reuters) - Boeing shareholders will vote on Friday whether outgoing CEO Dave Calhoun should remain on the board, adding intrigue to an annual general meeting (AGM) where investors are expected to seek clarity on future leadership of the planemaker...
5h ago
Morning Bid: Markets ponders rate path, shares listless
A look at the day ahead in European and global markets from Ankur Banerjee The cold harsh reality of the Federal Reserve likely keeping interest rates higher for longer to combat inflation has put a lid on the post-U.S. CPI exuberance, with the listles...
6h ago
Malaysia's economy grows annual 4.2% in Q1, helped by export rebound
KUALA LUMPUR (Reuters) - Malaysia's economy expanded 4.2% in the first quarter of 2024 from a year earlier, beating market expectations on higher household spending and a turnaround in exports, government and central bank data showed on Friday. Eco...
6h ago
Chinese property developer Country Garden's Hong Kong liquidation hearing adjourned
By Clare Jim HONG KONG (Reuters) - A Hong Kong court adjourned to June 11 a hearing of a petition on Friday seeking liquidation of Country Garden, providing a breather to the embattled Chinese developer amid Beijing's efforts to revive the crisis-h...
7h ago
China's economy to improve further, stats bureau says
BEIJING (Reuters) - China's economic improvement will be further consolidated and strengthened as macro policies take effect, Liu Aihua, a spokesperson of the National Bureau of Statistics, said on Friday. China's consumer price index (CPI) is expe...
7h ago
GM, LG agree on $150 million relief fund for Chevy Bolt EV owners over faulty batteries
(Reuters) - General Motors and South Korean battery firm LG Energy Solution reached a settlement to establish a $150 million fund to provide monetary relief to Chevrolet Bolt EV owners who were affected by defective batteries, documents filed in a ...
7h ago
Microsoft offers cloud customers AMD alternative to Nvidia AI processors
By Max A. Cherney SAN FRANCISCO (Reuters) - Microsoft said on Thursday it plans to offer its cloud computing customers a platform of AMD artificial intelligence chips that will compete with components made by Nvidia, with details to be given at its...
7h ago
China's property investment decline worsens in January-April
BEIJING (Reuters) - Property investment in China in the first four months of 2024 fell 9.8% from a year earlier, after dropping 9.5% in the first quarter, indicating the sector is yet to bottom out despite a flurry of policy support. Property sales...
8h ago
China's April industrial output rises 6.7%, beats expectations
BEIJING (Reuters) - China's industrial output grew 6.7% year-on--year in April, accelerating from the 4.5% pace seen in March, as the recovery in the manufacturing sector gathered pace. The official data released on Friday by the National Bureau of...
8h ago
China new home prices fall at fastest pace in over 9 years
BEIJING (Reuters) -China's new home prices fell at the fastest monthly pace in over nine years in April, keeping pressure on authorities as intensified efforts to prop up the ailing property sector show few signs of paying off. Prices were down 0.6% mo...
8h ago