Musk’s bold goal of selling 20 million EVs could cost Tesla billions
Tesla Inc (TSLA.O) Chief Executive Elon Musk has set his young company on an aggressive expansion path like no other auto executive has dreamed – but one riddled with potholes ...
Rouble firms in early Moscow trade, Russian stocks hit 2-month high
The rouble firmed towards 60 against the dollar and euro in early Moscow trade on Tuesday, while higher oil prices helped push Russia’s benchmark stock index to its highest point ...
Crypto lender Hodlnaut granted creditor protection by Singapore Court
Hodlnaut said on Tuesday it has been placed under interim judicial management by the Singapore High Court, after the troubled cryptocurrency lender suspended withdrawals earlier this month.
Judicial management allows ...
Russia fines streaming service Twitch 3 mln rbls -agencies
A court in Russia on Tuesday fined streaming company Twitch 3 million roubles ($50,209) for refusing to remove a two-hour interview with an adviser to Ukrainian President Volodymyr Zelenskiy, Russian news agencies ...
Bleeding bitcoin’s holding out for a hero
Who can save bitcoin?
The world’s biggest cryptocurrency can’t seem to catch a break. It finally looked to be regaining strength this month, breaching $25,000 for the first time ...
Euro zone economic sentiment falls more than expected in August
Euro zone economic sentiment fell more than expected in August, data showed on Tuesday, dragged lower by a drop in optimism in industry and in services despite a better mood ...
China pledges to lift economy with stable employment, prices in H2
China will step up measures to boost demand and stabilise employment and prices in the second half of the year to optimise economic outcomes, the country’s finance ministry said ...
Surging energy prices create perfect storm for UK bonds
British government bonds are on course for their biggest monthly fall since 1994, as surging energy prices create a perfect storm of higher inflation, tighter monetary policy and the prospect of ...
Oil edges down as inflation expected to impact fuel demand
Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global ...
Honda Motor, LG Energy to build $4.4 bln US EV battery plant
Japan’s Honda Motor Co (7267.T) will build a new $4.4 billion lithium-ion battery plant for electric vehicles in the United States with Korean battery supplier LG Energy Solution Ltd (373220.KS), ...
Ericsson to wind down business activities in Russia over coming months
Ericsson (ERICb.ST) said on Monday it will gradually wind down business activities in Russia over the coming months as the Swedish telecoms equipment maker completes its obligations to customers.
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Russia’s inflation will be 12-13 per cent in 2022, Kremlin aide says
Russia’s First Deputy Prime Minister Andrei Belousov said inflation will come in at 12-13 per cent in 2022, below earlier expectations, as the economy looks set to defy the gloomiest ...
More western tech companies set out Russian exit plans
Western technology companies, including Ericsson ERICb.ST and Nokia NOKIA.HE, announced plans for complete exits from Russia on Monday, following Dell DELL.N last week, as the pace of ...
Pain of breaking inflation will reverberate around the globe
The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a ...
Biden’s student loan forgiveness may erase savings of climate, drugs law
President Joe Biden’s controversial plan to forgive up to $20,000 in student loans for tens of millions of Americans could erase the projected $300 billion deficit reduction that his hard-fought climate, ...
Singapore says retail investors ‘irrationally oblivious’ to crypto risks, plans tougher rules
Singapore is planning to roll out new regulations that will make it more difficult for retail investors to trade cryptocurrencies at a time when they seem to be “irrationally oblivious” ...
Oil climbs on prospect of OPEC supply cut, demand growth
Oil prices rose 1 per cent on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural ...
Dollar hits 20-year high as Fed flags higher rates for longer
The US dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer ...
ECB policymakers make the case for a big rate hike
European Central Bank policymakers made the case on Saturday for a large interest rate hike next month as inflation remains uncomfortably high and the public may be losing trust in ...
Gulf stocks fall on tight monetary policy outlook
Major Gulf stock markets ended lower on Sunday as investors in the region reacted to comments by Federal Reserve Chair Jerome Powell signalling the US economy would need tight monetary ...
Dell ceases all Russian operations after August offices closure
Dell Technologies Inc. said on Saturday it had ceased all Russian operations after closing its offices in mid-August, the latest in a growing list of Western firms to exit Russia.
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Japan’s Suzuki drives deeper into India with global R&D unit
Suzuki Motor Corp (7269.T) will set up a global research and development company in India, its president said on Sunday, pushing deeper into a market that is set to become ...
European computer segment affected by supply chain disruption
Computer shipments experienced a decline for the second quarter in a row at the end of the first half of the year, hindered by issues on both the demand and ...
Asset managers to offer fund tokens despite crypto turmoil
Investors in crypto have endured wild moves in recent months, but this has not fazed asset managers who are preparing to use the blockchain technology behind cryptocurrencies to break funds ...