SAO PAULO (Reuters) – Industrial production in Brazil fell 0.9% in May from April, government statistics agency IBGE said on Wednesday, below the 1.7% decline estimated by analysts polled by Reuters. Still, Brazilian factories posted their second-consecutive month-on-month drop, down a cumulative 1.7% in the period. Production in May retreated 1.0% from a year earlier […]
By Sarita Chaganti Singh NEW DELHI (Reuters) – India has asked power companies to order equipment worth $33 billion this year to fast track capacity additions of coal-fired power in the years ahead, as the South Asian nation struggles to meet booming electricity demand, two government officials said. The unprecedented move by the government, which […]
By Tim Hepher PARIS (Reuters) -Engine maker CFM’s wariness to ramp up supplies significantly to Airbus at a time of stress for its other key customer Boeing was likely a factor in Airbus’ move to delay planned jet output increases, industry sources said on Tuesday. On Monday, Airbus delayed a multi-year hike in narrowbody production, […]
By Tim Hepher PARIS (Reuters) -Engine maker CFM’s wariness to ramp up supplies significantly to Airbus at a time of stress for its other key customer Boeing was likely a factor in Airbus’ move to delay planned jet output increases, industry sources said on Tuesday. On Monday, Airbus delayed a multi-year hike in narrowbody production, […]
By Abhirup Roy NORMAL, Illinois (Reuters) -Electric-vehicle maker Rivian’s drive to cut costs and turn its first profit has removed over 100 steps from the battery-making process, 52 pieces of equipment from the body shop and over 500 parts from the design of its flagship SUVs and pickups. The result of Rivian retooling its manufacturing […]
By Abhirup Roy NORMAL, Illinois (Reuters) -Electric-vehicle maker Rivian’s drive to cut costs and turn its first profit has removed over 100 steps from the battery-making process, 52 pieces of equipment from the body shop and over 500 parts from the design of its flagship SUVs and pickups. The result of Rivian retooling its manufacturing […]
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China’s housing market continues to face challenges as the country aims to bring its economy back to pre-pandemic levels. The latest industrial output data from China showed that industrial output growth slowed to 5.6% in May, a decline of over 1% from the previous month’s figure. Yahoo Finance’s Seana Smith and Madison Mills break down […]
Crude oil prices (CL=F, BZ=F) tick higher Monday morning after China reported weakening demand and oil refinery outputs. “One of the things that a lot of people are missing, I think with China is how it’s transitioning to more of a consumer-based economy rather than an industrial-based economy… it’s trying to decrease energy intensity. So […]
BANGKOK (AP) — Shares were mixed in Asia on Monday after China reported its factory output slowed in May, with the property market still deep in the doldrums. U.S. futures edged lower and oil prices fell. Shares fell 1.9% in Tokyo to 38,070.40 and in Seoul, the Kospi declined 0.5% to 2,744.63. Australia’s S&P/ASX 200 […]
(Bloomberg) — China’s industrial expansion slowed in May and retail spending beat forecasts, a sign that deep imbalances in the economic recovery may be easing at least a little. Most Read from Bloomberg Industrial production rose 5.6% in May from a year ago, the National Bureau of Statistics said Monday. That compares with April’s increase […]
BEIJING (Reuters) – China’s May industrial output lagged expectations with the property sector still weak, adding pressure on Beijing for policy support to shore up growth, but retail sales beat forecasts thanks to a holiday boost. The industrial data released on Monday by the National Bureau of Statistics (NBS) came in below expectations for a […]