BEIJING/HONG KONG (Reuters) – Chinese automaker Geely’s new energy vehicle subsidiary on Wednesday said its brand Farizon has raised over $300 million from a funding round led by Asian logistics firm GLP’s investment arm Hidden Hill Capital. The new capital raise, which involves other investors such as Chinese logistics and […]
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Analysis-Ford, VW pop the automated-vehicle bubble with Argo AI exit
By Paul Lienert DETROIT (Reuters) – The road map to fully self-driving vehicles is being rewritten once again, this time by Ford Motor Co and Volkswagen AG. When the two automakers joined forces in July 2019 to share control of self-driving startup Argo AI, it shook up the landscape among […]
Oil prices continue climb on strong crude demand, weaker dollar
By Laura Sanicola (Reuters) – Oil prices continued to rise in early Asian trade on Thursday after surging more than 3% in the previous session, driven by record U.S. crude exports and a weaker U.S. dollar. Brent crude futures rose 25 cents, or 0.3%, to $95.94 a barrel by 0015 […]
ECB to hike interest rates, likely to trim bank subsidies
(Corrects time in paragraph 10) By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) -The European Central Bank will raise interest rates again on Thursday and likely reel in a key subsidy to commercial banks, taking another huge step in tightening policy to fight off a historic surge in inflation. Fearing […]
Biden targets hidden ‘junk fees’ from banks, cable TV, concert tickets
By Hannah Lang, Doina Chiacu and Trevor Hunnicutt WASHINGTON (Reuters) -President Joe Biden pledged on Wednesday to crack down on surprise fees consumers are forced to pay on cable bills, hotel rooms and concert tickets, while U.S. financial regulators declared bank fees for bounced checks and overdrafts unfair. “These are […]
Tripledemic: Coming to a Town Near You
The latest updates on the Covid19 saga and new virus to be aware of this fall. Free America Network Articles
Credit Suisse nears sale of securitized-products group to Apollo, Pimco -WSJ
(Reuters) – Credit Suisse is nearing a deal to sell its securitized-products group to investors Apollo Global Management and Pacific Investment Management Co, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The consortium including Pimco, a big bond manager, and Apollo, a large alternative asset […]
No Roger Federer Street in Basel, at least for now
ZURICH (Reuters) – Swiss tennis great Roger Federer’s hometown won’t be naming a street after him – at least for now. Officials and politicians in Basel have begun discussions on how to honour the 20-time grand slam singles champion, who retired from the ATP tour last month. But city surveyor […]
EIA: U.S. only has 25 days of diesel left
FILE – High gas prices are shown as a pedestrian waits to cross the street in Los Angeles, June 16, 2022. President Joe Biden on June 22 will call on Congress to suspend the federal gasoline and diesel taxes for three months. It’s a move meant to ease financial pressures […]
Australian lender ANZ’s annual cash profit rises 5%
(Reuters) – Australia and New Zealand Banking Group Ltd said on Thursday full-year cash profit rose 5% as its home loan business picked up and higher interest rates boosted margins in the second half. The country’s fourth-largest bank said cash profit from continuing operations was A$6.52 billion ($4.23 billion) for […]