Wall Street extends selling as Powell hints at further rate hikes

Wall Street extends selling as Powell hints at further rate hikes

FedEx slips after disappointing fourth quarter results Crypto Stock Gains as Bitcoin Loses $30,000 Tesla drops after Barclays downgrade Indices down: Dow 0.30%, S&P 0.52%, Nasdaq 1.21% NEW YORK, June 21 (Reuters) – U.S. stocks closed lower on Wednesday as Federal Reserve Chairman Jerome Powell’s testimony to Congress reinforced the central bank’s aim to contain … Read more

Qatar strikes second big LNG supply deal with China

Qatar strikes second big LNG supply deal with China

Qatar signs second 27-year contract to supply China with LNG Asian customers lead race to secure LNG from QatarEnergy expansion China’s CNPC takes stake in QatarEnergy expansion project DOHA, June 20 (Reuters) – Qatar on Tuesday concluded its second major gas supply deal with a Chinese state-controlled company in less than a year, putting Asia … Read more

Hyundai raises EV investment to $28 billion to scale back China operations

Hyundai raises EV investment to  billion to scale back China operations

Raises EV sales target by 2030 to 2 million units from 1.87 million Use LFP batteries for the first time from around 2025 Sell ​​two factories in China, rationalize the other two factories SEOUL, June 20 (Reuters) – Hyundai Motor will increase its average annual investment in electrification by almost two-thirds to $28 billion over … Read more

Lab crisis: British science has nowhere to go

Lab crisis: British science has nowhere to go

OXFORD, England, June 20 (Reuters) – For Ros Deegan, the excitement of raising $100 million to develop a biotech company among Oxford’s dream spiers has quickly dampened: unable to find a bigger lab , she regularly had to work from home. Not far away, in the rival university center of Cambridge, biochemist Catherine Elton, constantly … Read more

Alibaba CEO and Chairman Zhang resigns to focus on cloud

Alibaba CEO and Chairman Zhang resigns to focus on cloud

The executive reshuffle comes after the Chinese tech giant’s restructuring Zhang will fully focus on the cloud unit Joseph Tsai succeeds Zhang as chairman of Alibaba Group Alibaba aims to complete list of cloud units within a year SHANGHAI, June 20 (Reuters) – Alibaba Group (9988.HK) said on Tuesday its CEO and chairman Daniel Zhang … Read more

New Zealand abandon friendly against Qatar amid racism allegations

New Zealand abandon friendly against Qatar amid racism allegations

June 19 (Reuters) – New Zealand refused to report for the second half of a friendly against Qatar in Austria on Monday after New Zealand said a Qatari player had qualified the defender for All Whites Michael Boxall of racial epithet. It was one of two such incidents in Austria on Monday, with the Irish … Read more

Inside China’s underground high-end Nvidia AI chip market

Inside China’s underground high-end Nvidia AI chip market

HONG KONG/SHENZHEN, China, June 20 (Reuters) – Psst! Where can a Chinese buyer buy Nvidia (NVDA.O) high-end AI chips following US sanctions? Visiting the famous Huaqiangbei electronics district in the city of Shenzhen, southern China, is a good bet – in particular, the skyscraper SEG Plaza whose first 10 floors are full of shops selling … Read more

The Paris Air Show takes off with a record contract for 500 Airbus aircraft

The Paris Air Show takes off with a record contract for 500 Airbus aircraft

(1/2) A model of a Future Combat Air System (SCAF), a European aircraft developed by France, Germany and Spain is displayed during the 54th Paris International Air Show at Le Bourget airport near Paris, France, June 19, 2023. REUTERS / Benoit Tessier IndiGo signs deal for 500 Airbus planes Jet makers face supply challenges to … Read more

Berlin, Intel reach chip factory deal after months of subsidy talks

Berlin, Intel reach chip factory deal after months of subsidy talks

Intel to receive 10 billion euros in subsidies from Germany – source Decision highlights Berlin’s efforts to attract foreign investment Intel shares -0.7% in Frankfurt BERLIN/STOCKHOLM, June 19 (Reuters) – Germany will give U.S. chipmaker Intel 10 billion euros ($10.91 billion) in subsidies for its planned plant in Magdeburg, a source familiar with the matter … Read more

Their parents made China the factory of the world. Can children save the family business?

Their parents made China the factory of the world.  Can children save the family business?

RUICHANG, China, June 19 (Reuters) – When Steven Du took over his parents’ factory producing climate control systems in Shanghai, one of the first changes he made was turning on the heating of the factory in winter – something his frugal ancestors were reluctant to do. TO DO. “If you don’t improve their environment, workers … Read more