By Nick Carey and Christina Amann PARIS, Oct 16 (Reuters) – China’s automakers are betting European drivers will embrace a new form of premium motoring centred on technology rather than heritage, with brands such as Changan’s Avatr and BYD’s Denza pitching what they call “intelligent luxury”. Having
By Leika Kihara BANGKOK, Oct 16 (Reuters) – The Bank of Japan may face renewed pressure to increase the pace of interest rate hikes ahead of a key rate review this month, after global inflationary pressures from the Iran war and AI-driven demand shock dominated discussions at this week’s IMF meeting
By Stefanno Sulaiman and Ankur Banerjee JAKARTA/SINGAPORE, Oct 16 (Reuters) – Indonesia’s stock market is no longer worthy of “emerging market” status, MSCI said on Friday, laying out a plan to remove it from a suite of indexes tracked by funds, a shock move that sparked the steepest one-day drop in
By Chen Aizhu SINGAPORE, Oct 16 (Reuters) – PetroChina is poised for a record year in trading profits, five trading executives said, with its refineries outside China reaping bumper margins amid tight global fuel markets as the Iran war transforms the way Middle East oil is bought and sold. PetroChi
By Samuel Indyk and Medha Singh LONDON, Oct 16 (Reuters) – Britain’s new finance minister, John Healey, delivers his first budget on October 28 against a backdrop of rising global borrowing costs and high energy prices due to the Iran war. “This budget is about credibility,” said Luke Hickmore, inve
ROME, Oct 16 (Reuters) – Dolce & Gabbana’s beauty business expects to maintain double-digit growth in 2026 after surpassing €1 billion ($1.12 billion) in wholesale revenues last year, its CEO said in an interview with financial daily Il Sole 24 Ore published on Friday. • Wholesales more than tripled
By Stefano Rebaudo Oct 16 (Reuters) – The dollar was on track for its first weekly decline in more than a month against the euro and the yen, as investors shifted their focus to the US rate outlook while assessing the impact of Wednesday’s stock market selloff. AI stocks have cratered this week and
By Alun John and Dhara Ranasinghe LONDON, Oct 16 (Reuters) – A sharp sell-off in European government bonds this month shows how hedge funds’ growing role is making a systemically important market more vulnerable — a risk regulators are watching closely. On the surface, the reasons for a surge in Fre
A look at the day ahead in European and global markets from Kevin Buckland Asian stocks are rising into the weekend, with bargain hunters probably leading the buying after the precipitous plunge in markets on Thursday. But with calm returning after the frenzied AI-centred selling of a day earlier, t
BANGKOK, Oct 16 (Reuters) – Japan no longer faces the deflationary environment that existed for more than a decade, and the level of its currency and monetary policy must change accordingly, US Treasury Undersecretary Erin Browne said on Friday. Browne, in Bangkok for the annual meetings of the Inte
(Corrects to fix formatting) Oct 16 (Reuters) – Some of China’s richest people are winding down their offshore trusts, selling shares, and even switching nationality as a deadline looms to declare income booked overseas, say wealth advisers, lawyers and others familiar with the matter. The move is p
By David Lawder and Leika Kihara BANGKOK, Oct 16 (Reuters) – Federal Reserve Chairman Kevin Warsh voiced optimism on Friday about US economic strength and surprise about how well global economies have been “hanging in there” amid continued energy shocks and tighter monetary policy to fight inflation
By Jeslyn Lerh SINGAPORE, Oct 16 (Reuters) – The US-Israeli war on Iran has altered bunker buying patterns for shippers globally as they turned to more spot and shorter-term purchases to cope with volatile prices while exploring more alternative locations for supply security, industry executives sai
By Christine Chen SYDNEY, Oct 16 (Reuters) – US conglomerate 3M plans to argue a landmark case brought by Australia over contamination from the company’s use of PFAS “forever chemicals” in its firefighting foam is legally flawed, a court heard on Friday. The claim against the Minnesota-based chemica
BANGKOK, Oct 16 (Reuters) – World Bank President Ajay Banga on Friday said the development lender has set a goal of quintupling its critical minerals business in five years, and has identified 20 countries that it can partner with on critical minerals development projects. Banga revealed the new goa
TOKYO, Oct 16 (Reuters) – Asian stocks rebounded on Friday following heavy selling in the previous session when investors dumped tech shares as questions about cloud company CoreWeave’s debt pile fuelled worries about the financing driving the AI boom. Bond markets stabilized after yields plunged on
By David Shepardson WASHINGTON, Oct 15 (Reuters) – A U.S. federal appeals court said on Thursday the Federal Communications Commission exceeded its authority in setting up a telecoms subsidy program in the late 1990s used to widen access to communications for millions of Americans. The FCC collects
By Summer Zhen and Anirban Sen TOKYO, Oct 16 (Reuters) – Global hedge funds suffered steep losses this week, according to a Goldman Sachs prime brokerage note, battered by the violent unwind of a swathe of AI bets, with Asia-focused funds hit the hardest. Investors are increasingly questioning wheth
By Sam Li and Lewis Jackson BEIJING, Oct 16 (Reuters) – Oil prices edged down on Friday morning as investors weighed Middle East risks and possible US steps to ease restrictions on the world’s “shadow fleet” of tankers. Brent crude futures fell 41 cents, or 0.39%, to $105.51 a barrel by 0012 GMT, wh
Oct 15 (Reuters) – Progress toward a US-Mexico tariff deal has stalled after opposition from Commerce Secretary Howard Lutnick, the Wall Street Journal reported on Thursday, citing people familiar with the talks. The US and Mexico had been closing in on a deal that would reduce US levies on steel, a
By Amir Orusov Oct 16 (Reuters) – Global demand for electric vehicles fell 2% in September, ending six consecutive months of growth, as record sales in Europe were not enough to offset sharp declines in North America and China, data from UK-based research firm Benchmark Mineral Intelligence showed o
Oct 15 (Reuters) – Tesla’s top energy executive, Mike Snyder, has stepped down as vice president of energy and charging, the Wall Street Journal reported on Thursday. • AJ Booth, senior director of energy products engineering, will succeed Snyder, according to the report • Tesla did not immediately
Oct 15 (Reuters) – Meta Platforms on Thursday released an open-weight version of its Muse Spark artificial intelligence model for coding and AI agents, expanding developers’ ability to download and adapt the technology. Open-weight models make trained parameters available for developers to modify, u
By Forrest Crellin, Robert Harvey and Pietro Lombardi PARIS/LONDON/MADRID, Oct 15 (Reuters) – The International Energy Agency agreed on Thursday to release over 20 million barrels of diesel to the market and any oil remaining from a record emergency reserves release pledged in March to boost supply
By Jamie McGeever ORLANDO, Florida, Oct 15 (Reuters) – The AI equity rout accelerated significantly in Asia on Thursday on growing fears about the murky, circular financing powering the intelligence revolution’s buildout, although its force evaporated in European and US trading hours. Still, safe-ha
By Milana Vinn and Anirban Sen NEW YORK, Oct 15 (Reuters) – Some current Anthropic investors and prospective investors in its upcoming initial public offering are weighing a lower valuation for the AI company after its latest financial disclosures, four people familiar with the matter said, amid bro
By Juveria Tabassum Oct 15 (Reuters) – Fast-food chain KFC on Thursday signed Coca-Cola as its beverage partner for US stores, bringing to a close a relationship with PepsiCo that dates back about four decades. The loss of the beverage partnership with KFC, which has 3,718 US locations, could be a s
By Dan Burns Oct 15 (Reuters) – The skyrocketing price of diesel is plain for Americans to see anytime they fuel up their cars, SUVs and pickup trucks, though only a fraction of US drivers own a diesel-powered vehicle so they may think they are dodging that massive sticker shock. Think again. Wholes
By Patturaja Murugaboopathy Oct 15 (Reuters) – Private credit direct lenders are raising record sums even as deal activity slows and borrowers return to the banking system’s syndicated loan market, increasing pressure to deploy capital into a shrinking pool of attractive opportunities. Direct-lendin
By Valentina Za MILAN, Oct 15 (Reuters) – UniCredit, Italy’s second-largest bank, said on Thursday that the European Central Bank had authorised it to take control of Commerzbank, after a hostile takeover offer completed in July lifted its stake in the German rival to 48%. UniCredit needed ECB appro
