International News

BLOOMBERG German Chancellor Olaf Scholz said talks were constructive with the European Union in resolving a dispute over plans to ban new combustion-engine cars in the bloc from 2035, after Berlin derailed the effort this past week. Scholz met with European Commission President Ursula von der Leyen on the sidelines of a government retreat in Meseberg north of Berlin. The ...

BLOOMBERG Britain’s chronic problem with people dropping out of the workforce will only get worse over the next three years because the population is changing shape, according to the Office for National Statistics (ONS). By 2026, there will be 726,000 more inactive people in the UK aged 16 to 64 than before the pandemic, the government’s statistics office said. The ...

BLOOMBERG Tesla Inc’s shipments from its China factory climbed in February as price cuts attracted buyers and consumer spending kicked back into gear following massive Covid outbreaks across the nation in January. The US electric vehicle pioneer delivered a total of 74,402 vehicles from its Shanghai facility last month, preliminary data from China’s Passenger Car Association showed. That’s a 32% ...

BLOOMBERG The Biden administration announced export restrictions for dozens of Chinese entities, including server maker Inspur Group Co and units of genetics firm BGI, citing activities contrary to US national security and foreign policy interest. The Commerce Department added a number of companies to the so-called Entity List for acquiring or attempting to acquire US-origin items in support of China’s ...

BLOOMBERG The European Union (EU) delayed a key vote on an effective ban on combustion-engine cars after Germany unexpectedly voiced last-minute objections amid concerns about how the bloc’s green plans will affect industry. EU and German officials are in talks over how to reach a compromise over allowing the use of e-fuels in new cars after 2035, and there were ...

BLOOMBERG Oil dipped after hot inflation data led traders to anticipate that central bankers are likely to stay hawkish for the coming months, offsetting hopes for higher demand from Asia. West Texas Intermediate dropped below $76.50, reversing earlier reached gains after China and India released strong manufacturing and oil-sales data. Crude has weakened this year as the prospect of tighter ...

BLOOMBERG China’s economy is showing signs of a stronger rebound after Covid restrictions were abandoned, with manufacturing posting its biggest improvement in more than a decade, services activity climbing and the housing market stabilising. The manufacturing purchasing managers’ index rose to 52.6 last month, the National Bureau of Statistics said, the highest reading since April 2012. A non-manufacturing gauge measuring ...

BLOOMBERG Finland’s economy contracted more in the fourth quarter than a flash estimate had indicated, affirming that the Nordic nation has entered a recession. Gross domestic product (GDP) shrank 0.6% last quarter from the previous three-month period, when it contracted a revised 0.1%, Statistics Finland said. A flash estimate had indicated a 0.2% decline in output. GDP was stagnant compared ...

BLOOMBERG Volkswagen AG reaffirmed its commitment to an automotive plant in Xinjiang after a visit by its China chief, despite persistent concerns of human rights abuses in the country’s far western region. The German carmaker said it has no indication that workers are mistreated at the facility in the city of Urumqi, which is operated by a subsidiary of its ...

BLOOMBERG The Swiss economy unexpectedly failed to grow in the final months of 2022 as manufacturing output contracted and exports weighed on momentum. Gross domestic product stalled in the fourth quarter, according to government data. That falls short of the median economist prediction in a Bloomberg survey, which had anticipated a 0.1% increase. Exports showed a significant decline of 0.9% ...