Exclusive: Tesla readies revamped Model 3 with project ‘Highland’ -sources

Nov 28 (Reuters) – Tesla (TSLA.O) is developing a revamped version of Model 3, according to four people with knowledge of the effort, as the top EV maker aims to cut production costs and boost the appeal of the five-year -old electric sedan. One focus of the redesign codenamed “Highland” is to reduce the number … Read more

Global oil market signals short-term weakness ahead of EU ban on Russian oil

NEW YORK, Nov 28 (Reuters) – The global oil market is signaling a potential shift, as traders and analysts worry about reduced crude demand and an oversupplied market in the coming months. After months of strength, crude futures are flirting with lows not seen all year as top oil consumer China enters additional COVID-19 lockdowns … Read more

China’s industrial profits drop further as COVID woes take toll on economy

Jan-Oct industrial profits -3.0% yr/yr vs -2.3% in Jan-Sept Risks from domestic COVID outbreaks and global recession flagged BEIJING, Nov 27 (Reuters) – China’s industrial firms saw overall profits decline further in the January-October period as COVID-19 outbreaks flared up and cities imposed new virus curbs, including targeted lockdowns, dampening economic activity. Industrial profits fell … Read more

Nasdaq ends down as investors eye Black Friday sales, China infections

Retailers in focus as Black Friday sales start Activision down on likely FTC lawsuit to block Microsoft deal Apple slips, Foxconn China plans sees lower shipments Indexes: Dow up 0.45%, S&P 500 down 0.03%, Nasdaq down 0.52% Nov 25 (Reuters) – The Nasdaq closed lower on Friday with pressure from Apple Inc (AAPL.O) in a … Read more

Foxconn’s woes to take bigger toll on giant China iPhone plans as more workers leave -source

Foxconn Zhengzhou plans Nov shipments to fall further – source Worker unhappiness at plant escalated into protests this week Over 20,000 workers, mostly new recruits, have left – source TAIPEI, Nov 25 (Reuters) – Foxconn’s (2317.TW) flagship iPhone plant in China is set to see its November shipments further reduced by the latest bout of … Read more

Consumer inflation in Japan’s capital rises at fastest pace in 40 years

Tokyo Nov core CPI up 3.6% vs f’cast +3.5% Tokyo CPI stays above BOJ’s 2% target for 6th straight month Data underscores broadening inflationary pressure TOKYO, Nov 25 (Reuters) – Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose at their fastest annual pace in 40 years in November and exceeded … Read more

Dollar nears 3-mth low, shares climb after Fed tests the brakes

LONDON, Nov 24 (Reuters) – Shares hit a two-month high and the dollar swooped towards a three-month low on Thursday, after Federal Reserve signals of smaller interest rate rises from next month were followed by the message from Frankfurt that the ECB will plow on. With Wall Street shut for Thanksgiving, it was up to … Read more

Foxconn apologises for pay-related error at China iPhone plans after worker unrest

Foxconn says it is working with staff to resolve disputes Major iPhone factory rocked by protests over pay, conditions Apple says it has a team on the ground in Zhengzhou TAIPEI/SHANGHAI, Nov 24 (Reuters) – Foxconn (2317.TW) said on Thursday a pay-related “technical error” occurred when hiring new recruits at a COVID-hit iPhone factory in … Read more

Investors batten down ahead of Fed minutes, Eurozone recession fears growing

Fed minutes awaited US Thanksgiving public holiday on Thursday Stock eke out slim gains globally Euro zone economic data points to recession China hit by rising COVID-19 infections LONDON, Nov 23 (Reuters) – Global shares were little changed on Wednesday as investors kept their eyes peeled for the minutes of a Federal Reserve meeting that … Read more

S&P closes at more than two-month high on retail, energy lift

Best Buy up, sees smaller annual sales drop Dollar Tree drops on lower FY profit forecast Manchester United surges on sale report Dow up 1.18%, S&P 500 up 1.36%, Nasdaq up 1.36% NEW YORK, Nov 22 (Reuters) – US stocks rallied on Tuesday, with the S&P 500 closing at its highest level in 2-1/2 months, … Read more