By Ankur BanerjeeSINGAPORE (Reuters) – Asian stocks got a lift on Thursday from Chinese stocks as China’s central bank kicked off its 500 billion yuan facility to spur capital markets, while the dollar lingered near a two-month high ahead of U.S. inflation data later in the day.The People’s Bank of China (PBOC) said it would start accepting applications from financial institutions to join a newly created funding scheme, a plan it announced on Sept. 24 as part of a series of stimulus measures that drove Chinese stocks higher.China’s blue-chip CSI300 index rose 1.7% in early trading, a day after dropping…
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(Reuters) -Amazon said on Wednesday that Apple (NASDAQ:) TV+ will become available on Prime Video later this month in the U.S. for $9.99 per month, in a boost for the iPhone maker which has lagged behind streaming rivals Netflix (NASDAQ:), Disney+ and Prime Video itself. The Apple TV+ streaming service, known for its original series like Ted Lasso, The Morning Show and Severance, has so far differentiated itself in the streaming landscape with a focus on in-house content, a strategy that has helped it garner 72 Emmy Award nominations. Apple TV+, however, is among the streaming platforms with the highest…
BEIJING (Reuters) -Sales of U.S. automaker Tesla (NASDAQ:)’s China-made electric vehicles rose 19.2% in September from a year earlier, data from the China Passenger Car Association (CPCA) showed on Wednesday. Deliveries of China-made Model 3 and Model Y vehicles, which are also exported to various markets including Europe, were up 1.9% from the previous month. Tesla sold more than 72,000 EVs in China’s domestic market, up 66% year-on-year, its best month this year, according to a company statement on Thursday. Chinese rival BYD (SZ:), with its Dynasty and Ocean lineups of EVs and plug-in hybrids, recorded its best month with…
Ratan Tata speaks during an interview.Pradeep Gaur | Mint | Getty Images Tributes from industry leaders, politicians and the public at large poured in for Ratan Tata, the former chairman of India’s Tata Sons, who passed away on Wednesday, aged 86.India’s Prime Minister Narendra Modi in a post on X called Tata “a visionary business leader, a compassionate soul and an extraordinary human being … his contribution went far beyond the boardroom.”Google and Alphabet CEO Sundar Pichai recalled his meeting with Tata where they discussed Google’s self-driving car project.”He leaves an extraordinary business and philanthropic legacy and was instrumental in…
MEXICO CITY (Reuters) – Mexico’s Senate unanimously passed a constitutional reform guaranteeing the country’s minimum wage will be revised annually to at least match inflation. WHY IT’S IMPORTANT Around four in 10 Mexicans earn the minimum wage or less. The reform is meant to cement a floor for annual wage increases, although the previous administration of President Andres Manuel Lopez Obrador backed some of the highest wage increases in decades. His successor, President Claudia Sheinbaum, has promised annual minimum wage increases of about 12%. CONTEXT The reform, which already passed in the lower house, had been proposed by Lopez Obrador…
Palantir’s Shyam Sankar Says AI Is Experiential And If You Pay Consultants To Help You Think About Deployment ‘You’re Just Lighting Money On Fire’Palantir Technologies, Inc. (NYSE:PLTR) shares have been on a tear ever since the company was added to the S&P 500 Index. The stock inflection has followed an inflection in the company’s fundamentals, and on Tuesday the data analytics company’s CTO Shyam Sankar acknowledged that the company is facing a surge in demand.Offering Business Value: “This is a unique moment for Palantir,” said Sankar in an interview with CNBC. The commercial business is seeing tailwinds, the rate of…
By Ankur Banerjee SINGAPORE (Reuters) – Asian stocks got a lift on Thursday from Chinese stocks as China’s central bank kicked off its 500 billion yuan facility to spur capital markets, while the dollar lingered near a two-month high ahead of U.S. inflation data later in the day. The People’s Bank of China (PBOC) said it would start accepting applications from financial institutions to join a newly created funding scheme, a plan it announced on Sept. 24 as part of a series of stimulus measures that drove Chinese stocks higher. China’s blue-chip CSI300 index rose 1.7% in early trading, a…
By Scott Murdoch (Reuters) -Warren Buffett’s Berkshire Hathaway (NYSE:) has raised 281.8 billion yen ($1.9 billion) in a seven-tranche yen-denominated bond deal, according to a term sheet reviewed by Reuters on Thursday. The U.S. investment giant issued bonds with tenors of 3, 5, 7, 10, 20, 28 and 30 years, the term sheet showed. The 3-year tranche was the largest with 155.4 billion yen raised, ahead of the 5-year bond raising 58 billion yen. Longer-dated bonds were added during the transaction and a proposed 15-year tranche was dropped, messages sent from the deal’s bookrunners showed. Final prices for each of…
100-hour work weeks are not uncommon, junior bankers saidMomo Takahashi/BIJPMorgan’s top strategist had something positive to say about stocks for the first time in a while.JPMorgan chief equity strategist Dubravko Lakos-Bujas said investors should get less defensive.”While it is too soon to assume that this is a turning point, it does suggest that a recession is unlikely in the near term.”Strategists at JPMorgan have been bearish on the stock market since October 2022.But that seems to be changing, based on a Tuesday note from JPMorgan chief global equity strategist Dubravko Lakos-Bujas.While Lakos-Bujas didn’t update his firm’s year-end S&P 500 price…
By Anant Chandak and Rahul Trivedi BENGALURU (Reuters) – India’s retail inflation in September likely overshot the Reserve Bank of India’s (RBI) 4% medium-term target for the first time since July due to a persistent rise in vegetable prices and a lower year-ago base, a Reuters poll found. Food items, especially vegetables and other perishables, which make up a significant share of overall household spending in the country, saw an uptick in prices as heavy rains reduced the availability of essential crops. A high base from last year, which helped bring down inflation in July and August, became a lower…