Climate change is hurting insurers, report says
Climate change is hurting the insurance industry and only 8% of insurers are preparing adequately for its impact, consultants Capgemini and financial industry body Efma said in a report on Tuesday.
Exclusive: U.S. Treasury’s Yellen and trade czar Tai at odds over China tariffs
President Joe Biden will have to resolve a heated internal debate among his aides over whether to cut taxes on goods from China as his administration tries to battle inflation, according to two U.S. officials and three other people familiar with the conversations.
EXCLUSIVE Tesla puts India entry plan on hold after deadlock on tariffs-sources
Tesla Inc (TSLA.O) has put on hold plans to sell electric cars in India, abandoned a search for showroom space and reassigned some of its domestic team after failing to secure lower import taxes, three people familiar with the matter told Reuters.
Exclusive: Facebook-owner Meta tells hardware staffers to prepare for cutbacks
Facebook-owner Meta Platforms Inc (FB.O) is preparing cutbacks in its Reality Labs division, a unit at the center of the company’s strategy to refocus on hardware products and the “metaverse,” a spokesperson confirmed to Reuters on Wednesday.
Rolls-Royce boosted by return to flying and defence demand
Rolls-Royce (RR.L) traded in line with expectations in the first four months of the year, the engine manufacturer said on Thursday, helped by a gradual return to flying and increased government investment in defence.
Foreigners turn net buyers of Japanese stocks in week to May 6
Foreign investors were net buyers of Japanese stocks in the week ended May 6 as some investors scooped up shares in banking and commodity-related sectors, despite a sell-off in broader Asian markets.
EXCLUSIVE Ontario Teachers to invest up to $1 bln in Macquarie offshore wind unit
Major Canadian pension fund Ontario Teachers’ Pension Plan has agreed to invest up to $1 billion in a new offshore wind business launched by Australia’s Macquarie Group Ltd (MQG.AX) to develop projects around the world, the companies told Reuters on Thursday.
Explainer: China’s Xiaomi battles probes in key India market
Chinese smartphone giant Xiaomi Corp (1810.HK) faces legal headaches in India as a federal financial crime-fighting agency and tax authorities investigate its business practices.
Dollar hits two-decade high, rattled investors plump for safe haven
The dollar rose to fresh two-decade highs on Thursday as concerns that tighter monetary policies to tame surging inflation will hurt the global economy dampened risk sentiment and drove investors into the safe-haven currency.
Analysis: BOJ still a lone dove, but less so as global price pressures intensify
The Bank of Japan is dropping hints the recent rise in inflation may prove longer-lasting and driven by solid demand, a sign global price pressures are prodding even the world’s most dovish central bank to think about a more neutral policy stance.
