(Reuters) – Apple Inc may make one out of four iPhones in India by 2025, J.P.Morgan analysts said on Wednesday, as the tech giant moves some production away from China, amid mounting geopolitical tensions and strict COVID-19 lockdowns in the country. The brokerage expects Apple to move about 5% of […]
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Zero-COVID policy has cost Hong Kong its aviation hub status – IATA
DOHA (Reuters) -Hong Kong has lost its position as a global aviation hub due to China’s zero-COVID policy, the head of airlines group IATA said on Wednesday, warning the industry’s recovery from the pandemic would be slowed if Beijing continued its restrictions next year. Attending an International Air Transport Association […]
U.S. could dodge EU carbon border levy, bloc’s climate chief says
By Kate Abnett BRUSSELS (Reuters) -The United States may be able to avoid the European Union’s plan to slap tariffs on imports of polluting goods based on its similar climate targets, the head of EU climate change policy said on Tuesday. The 27-country EU is negotiating a plan to introduce […]
Major U.S. banks threaten to leave Mark Carney’s climate alliance – FT
(Reuters) -Major Wall Street banks have threatened to leave United Nations climate envoy Mark Carney’s financial alliance over legal risks, the Financial Times reported on Wednesday, citing several people involved in internal talks. Morgan Stanley, JPMorgan and Bank of America are among the U.S. banks that are weighing an exit […]
Dollar hits two-decade high as Putin rattles markets before Fed
By Dhara Ranasinghe LONDON (Reuters) – The dollar jumped to a new two-decade high on Wednesday, as comments from Russia’s President Vladimir Putin rattled markets ahead of another likely aggressive rate hike from the U.S. Federal Reserve. Putin ordered Russia’s first mobilisation since World War Two, warning the West that […]
French telecoms tycoon Niel buys 2.5% stake in Vodafone
LONDON (Reuters) – French billionaire telecoms executive Xavier Niel, the founder and majority owner of Iliad, has bought a 2.5% stake in Britain’s Vodafone through an investment vehicle. The vehicle – Atlas Investissement – said Vodafone was an “attractive investment opportunity, as per the quality of its assets portfolio and […]
Analysis-A quadrillion reasons the Bank of Japan should fret about Fed
By Kevin Buckland and Vidya Ranganathan SINGAPORE (Reuters) – A quadrillion yen is lying idle with Japanese households, ready to be shipped overseas when yields abroad turn more attractive, and that moment could arrive as soon as this week. Later on Wednesday, the Federal Reserve will be raising rates again […]
UK government borrows more than expected in August
LONDON (Reuters) -Britain’s budget deficit was bigger than expected in August as high inflation again bumped up interest accrued on government bonds, official data showed on Wednesday. The Office for National Statistics said public sector borrowing excluding state-owned banks stood at 11.82 billion pounds ($13.44 billion). A Reuters poll of […]
Oil prices tick up on supply woes but Fed rate hike bets cap gains
By Isabel Kua SINGAPORE (Reuters) – Oil prices ticked up on Wednesday on supply concerns, but expectations of another aggressive U.S. interest rate hike capped gains amid investor concerns it could lead to a recession and hurt fuel demand. Brent crude futures rose 11 cents, or 0.1%, to $90.73 a […]
Japan unlikely to intervene to stem weak yen, half of economists say – Reuters poll
By Kantaro Komiya TOKYO (Reuters) – Japan will not intervene to stem the yen’s decline, said just over half of economists polled by Reuters, though a fifth said weakening beyond 150 per U.S. dollar could trigger action. With a widening gap between the Bank of Japan’s (BOJ) ultra-loose policy and […]