Vietnam car maker VinFast to build U.S. battery factory as it goes all-electric
Vietnam’s VinFast plans to build electric vehicle battery cells and packs in a new U.S. manufacturing complex, its global chief executive told Reuters, as the company pledged to transform itself into an all-electric automaker by the end of this year.
Futures subdued as tech stocks extend fall; Fed minutes awaited
U.S. stock index futures were subdued on Wednesday ahead of minutes from the Federal Reserve’s December meeting, even as big technology stocks continued to fall, with Salesforce.com declining after a brokerage downgrade.
WonderFi to buy parent company of Canadian crypto platform Bitbuy for about $162 mln
WonderFi Technologies Inc (WNDR.NLB), backed by investor Kevin O’Leary, agreed to buy Bitbuy’s parent company First Ledger Corp for about C$206 million ($162.13 million), giving it full ownership of the Canadian crypto marketplace.
EXCLUSIVE Walmart arm did not deliberately remove Xinjiang goods, China exec tells analysts
Walmart Inc (WMT.N) arm Sam’s Club, responding to the furore in China over what local media said was its deliberate removal of Xinjiang-sourced products from its app, denied the move in a call with analysts and termed it “a misunderstanding”.
Oil prices steady ahead of OPEC+ meeting
Oil prices were largely steady on Tuesday as investors expected major producers to agree to stick to their planned output increase at their meeting later in the day amid diminishing concerns over the spread of the Omicron variant of COVID-19.
Dollar hits five-year high vs yen as Fed rate bets lift U.S. yields
The U.S. dollar reached its strongest level in nearly five years against the Japanese yen on Tuesday, lifted by a jump in Treasury yields as traders bet on an early Federal Reserve interest rate hike despite surging COVID-19 cases.
Global economy: Asian factories take Omicron risks in stride, for now
Asia’s factory activity grew in December as companies took rising global cases of the new Omicron coronavirus variant in stride, though persistent supply constraints and rising input costs clouded the outlook for some economies.
Factbox: U.S. banks tighten COVID-19 precautions as Omicron variant spreads
U.S. banks have been more proactive than other industries in encouraging employees back to the office, but those plans have come under renewed scrutiny due to the rapid spread of the Omicron coronavirus variant.
Analysis: U.S. retailers may pay the price for ‘extended’ holiday return season
Major U.S. retailers’ longer return policies, launched during the pandemic this year to lure consumers, could leave them facing much higher costs if shoppers bring back a record-setting $112 billion in gifts bought during the extended holiday shopping season.
Analysis: New Xinjiang chief expected to maintain policies, boost economic focus
China’s change of leadership in Xinjiang could indicate greater emphasis on economic development in the region, experts said, although its security crackdown targeting minority Muslims is unlikely to see a significant change in direction.
