By Hyunjoo Jin, Victoria Waldersee and Zoey Zhang (Reuters) – Tesla Inc has slashed prices globally on its electric vehicles by as much as 20%, extending an aggressive discounting effort and challenging rivals after missing Wall Street delivery estimates for 2022. The move marks a reversal from the automaker’s strategy over the last two years …
Tesla turns up heat on rivals with global price cuts Read More »
By Dominique Patton and Tom Polansek (Reuters) -China approved imports of eight genetically modified (GM) crops, permitting shipments of GM alfalfa for the first time after a decade-long wait, the country’s agriculture ministry said on Friday. Global seed makers and the U.S. government welcomed the decision after Beijing’s slow approval process disrupted grain exports and …
Cautious China approves GMO alfalfa import after decade-long wait Read More »
By Medha Singh and David Randall (Reuters) -Resurgent risk appetite among some investors is fueling rallies in the shares of so-called meme stocks this month after a crushing year for equities, though many analysts are skeptical the most recent moves will last. The volatility often associated with meme stocks has been on display this week. …
Meme stocks start 2023 on high note, though ride is a bumpy one Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks scored its sixth straight session of gains on Friday as investors assessed the start of U.S. earnings season and the path of inflation, while the yen jumped to a seven-month high on speculation the Bank of Japan may alter its loose monetary policy. …
Stocks rise for sixth straight session, BOJ speculation lifts yen Read More »
By Nikunj Ohri NEW DELHI (Reuters) -The Indian government is allowing banks to verify individual transactions that exceed a certain annual limit using facial recognition and an iris scan in some cases, in a bid to reduce fraud and tax evasion, three sources told Reuters. A few large private and public banks have begun using …
India lets banks use face recognition, iris scan for some transactions – sources Read More »
BEIJING, China (Reuters) -China has acquired minority stakes with special rights in two domestic units of tech giant Alibaba Group Holding Ltd, business registration records showed, as Beijing extends a campaign to strengthen control over online content. Beijing has been taking ‘golden shares’ in private online media and content companies for more than five years, …
China acquires ‘golden shares’ in two Alibaba units Read More »
By Megan Davies and Lananh Nguyen NEW YORK (Reuters) -Wall Street’s biggest banks stockpiled more rainy-day funds to prepare for a possible recession, while showing caution about forecasting income growth in an uncertain economy and as higher rates increase competition for deposits. The outlook for big U.S. banks has been clouded by the Russia-Ukraine conflict …
Wall St banks stockpile funds, see uncertain outlook and competition for deposits Read More »
By David Morgan WASHINGTON (Reuters) – Republicans who control the U.S. House of Representatives wasted no time this week using their new majority to pass political messaging bills that appeal to conservative voters on hot-button issues, but often involved more hyperbole than substance. After a historic struggle to elect Kevin McCarthy as their speaker, House …
Analysis-U.S. House Republicans favor message over substance in early legislation Read More »
By Shariq Khan NEW YORK (Reuters) -Oil prices settled more than a dollar a barrel higher on Friday, notching their biggest weekly gains since October, as the U.S. dollar dropped to a seven-month low and more indicators pointed toward growing demand from top oil importer China. Brent crude futures settled at $85.28 a barrel, up …
Oil posts biggest weekly gain since October on China hopes, dollar slump Read More »
(Reuters) – A record number of business and government leaders will descend on the Swiss resort of Davos next week to pore over challenges ranging from global economic slowdown to environmental collapse as the World Economic Forum returns to its winter slot. Criticised by some as a talking shop for the jetset that merely adds …
Davos expects record turnout as resumes winter slot Read More »
