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September 17, 2021

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Ford wakes up badly burnt from its India dream

Reuters
NEW DELHI, Sept 17 (Reuters) – When Ford Motor Co (F.N) built its first factory in India in the mid-1990s, U.S. carmakers believed they were buying into a boom – the next China. The economy had been liberalised in 1991, the government was welcoming investors, and the middle class was......

With tighter grip, Beijing sends message to Hong Kong tycoons: fall in line

Reuters
HONG KONG, Sept 17 (Reuters) – As Beijing seeks to tighten its grip over Hong Kong, it has a new mandate for the city’s powerful property tycoons: pour resources and influence into backing Beijing’s interests, and help solve a potentially destabilising housing shortage. Chinese officials delivered the message in closed......

West African bloc resorts to sanctions over Guinea and Mali coups

Reuters
ACCRA, Sept 16 (Reuters) – West Africa’s main regional bloc on Thursday imposed sanctions against the junta in Guinea and those slowing Mali’s post-coup transition – its toughest response yet to a run of military takeovers. The move was agreed at an emergency summit of the Economic Community of West......

Tesla to work with global regulators on data security -Musk

Reuters
Tesla CEO Elon Musk gestures as he visits the construction site of Tesla’s Gigafactory in Gruenheide near Berlin, Germany, August 13, 2021. Patrick Pleul/Pool via Reuters/File Photo SHANGHAI, Sept 17 (Reuters) – Electric vehicle maker Tesla Inc (TSLA.O) will work with global regulators to ensure data security, Chief Executive Elon......

Banks beware, outsiders are cracking the code for finance

Reuters
Embedded finance investment jumps in 2021, data shows Buy now pay later deals take centre stage Fintech market valuations leapfrog banks LONDON, Sept 17 (Reuters) – Anyone can be a banker these days, you just need the right code. Global brands from Mercedes and Amazon (AMZN.O) to IKEA and Walmart......

Oil dips as U.S. storm-hit supply makes slow return

Reuters
A TORC Oil & Gas pump jack is seen near Granum, Alberta, Canada May 6, 2020. REUTERS/Todd Korol/File Photo Prices dip but set for near 4% weekly gains Slow post-Ida production recovery helped bolster prices SINGAPORE, Sept 17 (Reuters) – Oil prices fell on Friday as more supply came back......

Oil dips as U.S. storm-hit supply makes slow return

Reuters
A TORC Oil & Gas pump jack is seen near Granum, Alberta, Canada May 6, 2020. REUTERS/Todd Korol/File Photo Prices dip but set for near 4% weekly gains Slow post-Ida production recovery helped bolster prices SINGAPORE, Sept 17 (Reuters) – Oil prices fell on Friday as more supply came back......

China applies to join Pacific trade pact to boost economic clout

Reuters
BEIJING, Sept 16 (Reuters) – China has filed an application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the commerce ministry said, as the world’s second-biggest economy looks to bolster its clout in trade. Commerce Minister Wang Wentao submitted China’s application to join the free trade agreement......

World shares slide on China investment worries

Reuters
A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri/File Photo U.S. retail sales rose in August Indexes: Dow off 0.18%, S&P down 0.16%, Nasdaq up 0.13% Dollar hits nearly three-week high Gold falls by more than 2% NEW YORK,......

Exclusive: Facebook targets harmful real networks, using playbook against fakes

Reuters
Sept 16 (Reuters) – Facebook (FB.O) is taking a more aggressive approach to shut down coordinated groups of real-user accounts engaging in certain harmful activities on its platform, using the same strategy its security teams take against campaigns using fake accounts, the company told Reuters. The new approach, reported here......

European stocks rise as travel shares jump on Ryanair forecast

Reuters
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 15, 2021. REUTERS/Staff Travel & leisure stocks snap 4-day losing streak Continental slumps on Vitesco spin-off Weaker metal prices weigh on miners Sept 16 (Reuters) – European stocks rose on Thursday as travel......

Four former VW employees go on trial in Dieselgate lawsuit

Reuters
BRAUNSCHWEIG, Germany, Sept 16 (Reuters) – Four former employees of carmaker Volkswagen (VOWG_p.DE) went on trial on Thursday over the Dieselgate scandal in which illegal software was used to cheat emission tests. The trial, being held in the city of Braunschweig, close to Volkswagen’s headquarters in Wolfsburg, started without former......

Britain’s M&S blames Brexit for closing French food stores

Reuters
M&S to close 11 food stores run with SFH Will retain nine stores run with Lagardere M&S says new rules make it ‘near impossible’ LONDON, Sept 16 (Reuters) – British retailer Marks & Spencer (MKS.L) said it would close all 11 French franchise food stores it runs with its partner......

Britain’s John Lewis, Co-op lament supply chain disruptions

Reuters
Shoppers pass a branch of John Lewis in London, Britain, September 15, 2016. REUTERS/Toby Melville/Files John Lewis warns of ‘significant uncertainty’ Co-op says crisis will impact full year profit LONDON, Sept 16 (Reuters) – British retailers John Lewis Partnership and the Co-operative Group both warned that creaking supply chains would......

Italy working on measures to curb power prices – minister

Reuters
Electricity masts are seen at the sunset in Milan’s neighborhood, Italy, February 21, 2016. REUTERS/Stefano Rellandini/File Photo MILAN, Sept 16 (Reuters) – Italy will introduce short-term measures to offset the expected rise in retail power prices and is working on a longer-term reform of power bills, the energy transition minister......

China Evergrande onshore bond trading suspended after downgrade

Reuters
The China Evergrande Centre is seen in Hong Kong, China. August 25, 2021. REUTERS/Tyrone Siu Hengda bonds suspend trading for 1 day after CCXI downgrades Suspension points to higher chance of default – analysts Recovery ratio expected to be low – fund managers HONG KONG/SHANGHAI, Sept 16 (Reuters) – China......

Asian shares fall again, dollar drifts

Reuters
A man wearing a protective face mask walks past a screen displaying a graph showing recent Nikkei share average outside a brokerage, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan November 2, 2020. REUTERS/Issei Kato HONG KONG, Sept 16 (Reuters) – Asian shares gave up early gains to fall......

Dollar sluggish as traders bide time before Fed meeting; kiwi jumps

Reuters
Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration shot January 21, 2016. REUTERS/Jason Lee/Illustration/File Photo Market waiting for clues on taper timing from Fed New Zealand dollar buoyed by faster-than-expected GDP growth Norway’s crown at multi-month highs to......

Nikola, Iveco sign MoU to deliver 25 e-trucks to Hamburg port

Reuters
ULM, Germany, Sept 15 (Reuters) – Electric-truck maker Nikola (NKLA.O) and Iveco, the commercial vehicles brand of Italy’s CNH Industrial (CNHI.MI), on Wednesday said they had agreed to test and deliver up to 25 vehicles to the port of Hamburg, one of Europe’s largest. The memorandum of understanding, which was......

Hurricane Ida, supply constraints slow U.S. factory production

Reuters
Shipping containers are unloaded from a ship at a container terminal at the Port of Long Beach-Port of Los Angeles complex, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021. REUTERS/Lucy Nicholson/File Photo Manufacturing production increases 0.2% in August Industrial output rises 0.4%; Hurricane Ida......

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