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Volkswagen ready to act amid China metal export curbs
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World Cup fever lifts Qatar Airways revenue to record high
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Foxconn chairman holds talks with Sharp employees in Japan after profit slump
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Samsung profit likely lowest in more than 14 years as chip glut persists
UK regulator orders investment funds to manage liquidity better
Date: July 6, 2023
UK regulator orders investment funds to manage liquidity better By Huw Jones LONDON (Reuters) – Some asset managers face sanctions for failing to manage liquidity properly, posing risks to market stability and investors’ ability to withdraw money, Britain’s Financial Conduct Authority (FCA) said on Thursday. The suspension of property funds in Britain and difficulties faced...
US crude oil gains on supply cuts, focus shifts to holiday demand
Date: July 6, 2023
US crude oil gains on supply cuts, focus shifts to holiday demand By Shariq Khan BENGALURU (Reuters) – U.S. crude oil gained about 3% on Wednesday, narrowing the price gap with global benchmark Brent in a post-holiday response to supply cuts announced on Monday by Saudi Arabia and Russia. U.S. West Texas Intermediate crude (WTI)...
UK shares fall as fears over global demand, China weakness sap mood
Date: July 6, 2023
UK shares fall as fears over global demand, China weakness sap mood By Shashwat Chauhan and Shristi Achar A (Reuters) -London’s FTSE 100 fell for the third straight session on Wednesday, as energy and financial stocks declined after subdued data from China and the UK stoked concerns over slowing global demand. The blue-chip FTSE 100...
EV batteries remain major challenge for insurers – UK’s Thatcham
Date: July 5, 2023
EV batteries remain major challenge for insurers – UK’s Thatcham By Nick Carey LONDON (Reuters) -A lack of data on electric vehicle (EV) batteries continues to challenge insurers who are forced to scrap EVs after mild accidents, potentially undermining EV adoption, Thatcham Research said on Wednesday. The British automotive risk intelligence company cited a “concerning...
China’s chipmaking export curbs ‘just a start’, Beijing adviser warns before Yellen visit
Date: July 5, 2023
China’s chipmaking export curbs ‘just a start’, Beijing adviser warns before Yellen visit BEIJING/SHANGHAI (Reuters) -China’s export controls on metals used in semiconductors are “just a start”, an influential Chinese trade policy adviser said on Wednesday, as Beijing ramps up a tech fight with Washington days before a visit from U.S. Treasury Secretary Janet Yellen....
Why a $1.5 trillion source of corporate financing is choking on higher rates
Date: July 5, 2023
Why a $1.5 trillion source of corporate financing is choking on higher rates By Naomi Rovnick and Chiara Elisei LONDON (Reuters) – A financial stream that helped fund the world’s riskiest companies and grew into a market estimated at $1.5 trillion in the low interest rate years is drying up, as aggressive rate hikes bring...