Tesla lays out steps to building Europe’s biggest car plant
Tesla (TSLA.O) has requested approval from German local authorities to make sweeping changes to its factory near Berlin, a key next step in its ambitious plan to expand the ...
UK’s high inflation cools, offering some relief to Bank of England
Britain’s high rate of inflation fell by more than expected in June and was its slowest in over a year at 7.9 per cent, according to data that will ease ...
Long-feared corporate debt woes start to hit home
The spectre of rising corporate debt defaults exacerbating a global economic slowdown has for months been largely brushed aside by resilient credit markets.
Now, long-feared corporate debt woes are starting ...
India’s Infosys signs five-year AI deal with $2 bln target spend
India’s second-largest software services exporter Infosys (INFY.NS) said on Monday it has signed a deal with an existing client to provide artificial intelligence (AI) and automation services that ...
UK consumer group calls for government action on grocery prices
British consumer group Which? has urged the government to take action to support households when the competition watchdog publishes its review of grocery pricing, saying some food prices have jumped ...
Turkish lira hits record low ahead of rate decision
The Turkish lira weakened more than 2 per cent to a fresh record low against the dollar on Tuesday over market concerns that the central bank might raise interest rates this ...
Lebanon’s central bank to phase out Sayrafa exchange platform
Lebanon’s central bank will decommission the controversial exchange platform known as Sayrafa after governor Riad Salameh’s 30-year tenure ends this month, one of the institution’s vice governors ...
Turkey’s cenbank to deliver another substantial rate hike to 20 per cent
Turkey’s central bank is expected to raise its policy rate by 500 basis points to 20 per cent this week, a Reuters poll showed on Monday, making good on its pledge ...
UBS investors warm to Credit Suisse deal
UBS’s (UBSG.S) emergency takeover of Credit Suisse may lead to thousands of job losses, departures of key staff and a risky integration challenge, but for many UBS investors ...
Fashion retailer H&M to launch in Brazil
Fashion retailer H&M (HMb.ST) will launch stores and online trade in Brazil in 2025, the company said this week.
H&M opened its first store in Latin ...
Global rules leave crypto firms with no place to hide, says G20 watchdog
Globally agreed rules leave crypto firms with no option but to introduce basic safeguards to prevent the blow-ups seen at FTX exchange and other crypto casualties, the G20’s Financial ...
Dollar licks wounds as policy peak looms
A bruised dollar took respite on Monday after suffering its worst weekly drop of the year, as traders waited on economic data and policy decisions before selling it down any ...
Moscow takes control of Russian subsidiary of Danone and Carlsberg’s stake in brewer
The Russian state has taken control of French yoghurt maker Danone’s (DANO.PA) Russian subsidiary along with beer company Carlsberg’s (CARLb.CO) stake in a local brewer, according ...
Crypto ransom attacks rise in first half of 2023, Chainalysis says
Crypto crime fell overall in the first six months of 2023, but the volume of payments to ransomware attackers surged and is on track for its second-biggest annual total on record, ...
AI startups bringing dollars but lean workforces to ailing San Francisco
In a frenzy unseen since the birth of social media in the early 2000s, investors are pouring billions into generative AI and fueling a startup boom in San Francisco.
At ...
Italy’s luxury groups set aside rivalries to keep it local
Italy’s luxury fashion groups, which for decades jealously guarded their independence, have started teaming up to protect their supply chains and the Italian roots of smaller companies, showing a ...
BYD proposes $1 billion India plan to build EVs, batteries
China’s BYD Co (002594.SZ) has submitted a $1 billion investment proposal to build electric cars and batteries in India in partnership with a local company, three people with direct knowledge ...
In greening air travel, small parts can make a big difference
Aircraft flaps and emergency power units are part of efforts to reduce the aviation industry’s contribution to global warming.
By Tom Cassauwers
Each time a plane takes off or ...
EU looks to take lead in metaverse world, avoid Big Tech dominance
The European Commission on Tuesday set out a plan in a bid to take the lead in the metaverse – shared virtual worlds accessible through the internet – and to prevent Big ...
LG Electronics targets $77 bln sales by 2030, holds high hopes for vehicle components
LG Electronics (066570.KS) said this week that it is targeting 100 trillion won ($77 billion) in sales by 2030 and plans some 50 trillion won of investment as the South Korean company announced its ...
KPMG to invest $2 billion in AI, cloud services
KPMG said this week that it will spend $2 billion on artificial intelligence and cloud services through an expanded partnership with Microsoft (MSFT.O), closely following Accenture (ACN.F) in betting ...
Signs ‘crypto winter’ ending as regulatory fog begins to lift
Cryptocurrencies were testing year highs on Friday as a run of favourable regulatory and investment moves have started to shift momentum in markets that had been stuck in a rut ...
Tumbling US dollar a boon to risk assets across the globe
Cooling US inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit.
The dollar is down nearly 13 per cent against a basket of ...
How the property crash unravelled Sweden’s SBB
For hundreds of thousands of ordinary Swedes, investing in one of their country’s biggest landlords SBB (SBBb.ST) was a sure bet for years. Now it is at the ...