Author: Press Room
© Reuters. FILE PHOTO: A worker welds a bicycle steel rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province, China September 2, 2019. China Daily via REUTERS BEIJING (Reuters) -Profits at China’s industrial firms slumped in the first four months of 2023, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery. Profits fell 20.6% in January-April from a year earlier, compared with a 21.4% decline in the first three months, according to data from the National Bureau of Statistics (NBS). In April alone, industrial firms posted…
© Reuters. By Michael Elkins Investing.com — Here is your weekly Pro Recap of the past week’s biggest headlines in the electric vehicle space: a buzzy Ford-Tesla pact; political battles over EVs; a delisting threat at Nikola; and more news out of Stellantis and VinFast. InvestingPro subscribers got these EV headlines at lightning speed. Start your 7-day trial now.Ford’s deal with Tesla, a brand-new electric SUV, and moreFord Motor Company (NYSE:) jumped 6.2% after announcing late Thursday that it struck a major deal with Tesla (NASDAQ:) that will allow Ford-produced electric vehicles to charge at Tesla Supercharger stations in the…
Source: Koshiro/AdobeChinese healthcare and energy sector providers will allow patients and customers to pay with the digital yuan, in new breakthroughs for the nation’s central bank digital currency (CBDC).Per the Chinese media outlet WXRB, both outpatients and hospitalized mental healthcare patients can now use the CBDC to pay for medical treatment.Deposits, medication, and hospitalization fees can be paid via the central bank’s digital yuan app, WXRB explained.Hospital staff said that digital yuan payments were a “safer and more convenient form of smart payment.”They added that digital yuan payments were faster.And they said the CBDC helped mental care facilities “improve the…
Washington CNN — Washington Rep. Pramila Jayapal, the chair of the Congressional Progressive Caucus, said Sunday that White House negotiators and Democratic leaders should be concerned about progressive support for the tentative deal to raise the debt ceiling for two years “Yes, they have to worry,” Jayapal told CNN’s Jake Tapper on “State of the Union,” referring to some of the concessions made by the White House to reach the agreement with Republicans. Following the announcement of the deal Saturday night, the White House and Republican leaders in Congress have been mounting an intensive push to consolidate support. But the…
Notable earnings after Monday's close
NEW YORK – JANUARY 22: People walk down Wall Street January 22, 2008 in New York City. Following a … [+] sharp fall in international markets Monday, the Federal Reserve lowered its lending rate by three quarters of a percentage point to 3.50% Tuesday. This is the largest interest rate cut since 1984 and the first intrameeting move since September 11, 2001. Wall Street came back in morning trading after news of the Fed’s significant cuts. (Photo by Spencer Platt/Getty Images)Getty Images What happens in the U.S. financial system doesn’t stay there. Tough financial conditions tend to rollover into the…
Business People Reassuring Upset Middle Aged Businessmangetty Becoming a good steward of money involves more than just learning how to balance a checkbook, create a budget, or build credit yet many of the conversations on how to improve financial well-being focus only on the mechanics of the behavior itself rather than the variables that influence that behavior. The pressure to demonstrate financial literacy by pointing out the perceived lack of literacy in others is at an all time high with the rise in popularity of social media ‘finfluencers’ which can be a double-edged sword. On the one hand, the recipients…
This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morningRecep Tayyip Erdoğan has declared victory in Turkey’s presidential election.Unofficial results show the veteran leader has won over rival Kemal Kılıçdaroğlu, although ballots are still being counted.Erdoğan had secured about 52 per cent of the vote, compared with 48 per cent for Kılıçdaroğlu, according to the state Anadolu news agency, after more than 99 per cent of ballot boxes had been opened. The results have not yet been confirmed by Turkey’s…
© Reuters. FILE PHOTO: Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Optimism and relief are likely to be the dominant emotions for investors on Monday, giving markets in Asia a lift as lawmakers in Washington reached a tentative agreement on the U.S. debt ceiling, thus removing the risk of a catastrophic default. Trading and market liquidity in Asia will be lighter than usual, however, with U.S. and UK markets closed…
© Reuters. FILE PHOTO: U.S. Rep. Chip Roy (R-TX) walks to the House Chamber in the U.S. Capitol building in Washington, U.S., January 25, 2023. REUTERS/Leah Millis WASHINGTON (Reuters) – U.S. Representative Chip Roy of Texas said on Sunday on Twitter that he intended to try to stop the debt ceiling deal in the U.S. House of Representatives. After tough negotiations to reach a tentative deal with the White House on the U.S. borrowing limit, the next challenge for House Speaker Kevin McCarthy is pushing it through the House, where it may be opposed by both hardline Republicans and progressive…