Economy

Economy News

Exclusive: Tesla halts most production at Shanghai plant on Tuesday – memo

SHANGHAI (Reuters) – Tesla (NASDAQ:TSLA) Inc has halted most of its production at its Shanghai plant due to problems securing parts for its electric vehicles, according to an internal memo.

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Economy News

Analysis: Fragile won, rising U.S. rates point to faster Bank of Korea tightening

By Choonsik Yoo SEOUL (Reuters) – South Korea’s central bank got ahead of the tightening curve last year but now faces pressure to move faster and farther as the weakening.

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Business Economy News

Australia Business Sentiment Holds Up Amid Acute Cost Pressures

(Bloomberg) — Australia’s business conditions strengthened further in April, while labor costs and output prices remained elevated, a combination that suggests further interest rate increases ahead to rein in inflation..

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Economy News

Ship insurance claims to rise as Black Sea remains high risk area – Allianz

By Jonathan Saul (Reuters) – Global insurers are expected to receive multiple marine insurance claims from ships damaged or lost as the conflict in Ukraine spills over into sea lanes,.

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Economy News

A rival sits out Lebanon’s election. Now Hezbollah could fill the void

By Maya Gebeily TRIPOLI, Lebanon (Reuters) – The stakes are high in Lebanon’s election. The heavily armed Hezbollah movement has seen one of its main rivals descend into disarray, handing.

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Economy News

Dollar hits two-decade high amid rising US rates, Ukraine war, China’s lockdowns

By Tom Westbrook SINGAPORE (Reuters) – The dollar hit a two-decade high on Monday as investors searched for safety and yield due to growing concerns over slowing global economic growth.

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Economy News

BOJ policymakers unwavering on easy policy stance – March meeting minutes

By Leika Kihara TOKYO (Reuters) – Bank of Japan (BOJ) policymakers remained unwavering in their resolve to keep massive monetary stimulus, even as some saw signs of change in the.

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Business Economy News

Australia’s Westpac profit drops 12%, falling costs provide reprieve

By Savyata Mishra (Reuters) -Australia’s Westpac Banking (NYSE:WBK) Corp on Monday said continued margin pressure from competition in mortgage lending caused its first-half earnings to drop over 12% from a year-ago, but.

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Business Economy News

Algeria authorises purchase of 15 new aircraft for Air Algerie- statement

(Reuters) – The Algerian cabinet has authorised the national airline, Air Algerie, to purchase 15 new aircraft to open new routes to African and Asian destinations, Algerian State TV said.

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Economy News

Zimbabwe suspends bank lending in bid to arrest currency decline

HARARE (Reuters) – Zimbabwe’s government on Saturday ordered banks to stop lending with immediate effect in a move Harare said was designed to stop speculation against the Zimbabwean dollar and.

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