Fed’s Bullard: I hope US economy repeats outcome of 1994’s soft landing

St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS / Edgar Su / File Photo Register now for FREE unlimited access to Reuters.com Register June 20 (Reuters) – The US Federal Reserve could raise interest rates swiftly this year and forge a “stellar” economy ahead … Read more

Porsche to pay $ 80 million to resolve fuel economy claims on US vehicles

June 16 (Reuters) – Volkswagen AG (VOWG_p.DE) and its Porsche AG unit have agreed to a class-action settlement worth at least $ 80 million to resolve claims it skewed emissions and fuel economy data on 500,000 Porsche vehicles in the United States, court documents show. The settlement, filed in US District Court in San Francisco, … Read more

In the ‘miracle’ city of Shenzhen, fears for China’s economic future

SHENZHEN, China, June 13 (Reuters) – David Fong made his way from a poor village in central China to the southern boomtown of Shenzhen as a young man in 1997. Over the next 25 years he worked for a succession of overseas manufacturers before building his own multi-million dollar business making everything from schoolbags to … Read more

China takes steps to ease up on regulatory crackdown as economy slows

HONG KONG, June 9 (Reuters) – Beijing has given tentative approval for Ant Group to revive its initial public offering (IPO) in Shanghai and Hong Kong, two sources told Reuters on Thursday, the biggest sign yet of a cooling of Beijing’s tough stance on the technology sector. Ant, an affiliate of Chinese e-commerce behemoth Alibaba … Read more

US power use to rise in 2022 as economy keeps growing -EIA

A pylon of high-voltage electricity power lines are pictured during sunset in Cordemais near Nantes, France, January 20, 2022. REUTERS / Stephane Mahe Register now for FREE unlimited access to Reuters.com Register June 7 (Reuters) – US power consumption was on track to rise to record highs in 2022 and 2023 as the economy grows, … Read more

Texas power use to hit record high on economic growth, hot weather

Overhead power lines are seen during record-breaking temperatures in Houston, Texas, US, February 17, 2021. REUTERS / Adrees Latif Register now for FREE unlimited access to Reuters.com Register June 6 (Reuters) – Power demand in Texas is set to break the all-time record this week, far ahead of the hottest days of summer, testing of … Read more

Stock markets jolted by Musk’s economy and jobs warning

LONDON, June 3 (Reuters) – Wall Street was tipped for a weaker open on Friday, bucking share price gains in Europe and Asia after warnings on the economic outlook from Tesla Chief Executive Elon Musk who outlined plans to lay off 10% of his staff . Markets are on the edge ahead of crucial monthly … Read more

EXCLUSIVE Feeling ‘super bad’ about economy, Musk wants to cut 10% of Tesla jobs

Tesla employed around 100,000 people at the end of 2021 Musk warned staff on Tuesday to return to office or leave US executives sounding increasingly gloomy about economy SAN FRANCISCO, June 2 (Reuters) – Tesla (TSLA.O) CEO Elon Musk has a “super bad feeling” about the economy and wants to cut about 10% of jobs … Read more

Sterling falls against the dollar amid concerns over the UK economy

Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company headquarters in Vienna, Austria, November 16, 2017. REUTERS / Leonhard Foeger Register now for FREE unlimited access to Reuters.com Register June 1 (Reuters) – Sterling fell against a strengthening dollar on Wednesday, with investors concerned about a deteriorating UK … Read more