Toyota offers cheaper Prius if customers take software updates

Toyota offers cheaper Prius if customers take software updates

TOKYO, Dec 7 (Reuters) – Toyota Motor Corp’s (7203.T) leasing unit said on Wednesday it will begin offering over-the-air safety updates on the new Prius, betting it can use an approach pioneered by Tesla to cut lease prices and preserve used-car values in Japan. The lease program will require customers to opt in for a … Read more

China’s trade suffers worst slump in 2-1/2 yrs as COVID woes, feeble demand take toll

China’s trade suffers worst slump in 2-1/2 yrs as COVID woes, feeble demand take toll

China’s exports worst since Feb. 2020, miss forecast Imports fall steepest since May 2020 on sluggish demand Global economic slowdown, China’s COVID woes heap pressure Politburo meet points to domestic demand key driver in 2023, analyst says BEIJING, Dec 7 (Reuters) – China’s exports and imports shrank at their steepest pace in at least 2-1/2 … Read more

China medical expert says COVID has mutated, should be renamed – state media

China medical expert says COVID has mutated, should be renamed – state media

SHANGHAI, Dec 7 (Reuters) – China should change its official name for COVID-19 to reflect the virus’ mutation, and patients with light symptoms should be allowed to quarantine at home, a leading authority on traditional Chinese medicine was quoted as saying on Wednesday. Gu Xiaohong told the state-run Beijing Daily newspaper that the coronavirus’ Chinese … Read more

Stocks slide, dollar steady as market gauges Fed’s rate policy

Stocks slide, dollar steady as market gauges Fed’s rate policy

NEW YORK/LONDON, Dec 6 (Reuters) – Global stocks headed for a third straight day of losses on Tuesday and the dollar held steady as the market assesses how long the Federal Reserve keeps interest rates higher and the likelihood that policy provokes a recession. U.S. stocks followed European shares lower, with all sectors in the … Read more

Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

LONDON, Dec 6 (Reuters) – Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to … Read more

Beijing drops COVID testing burden with wider easing eyed

Beijing drops COVID testing burden with wider easing eyed

Tests no longer needed for supermarkets, offices Latest in a mix of nationwide easing steps Curbs sparked widespread protests last month New national rules due as soon as Weds – sources BEIJING, Dec 6 (Reuters) – People in China’s capital Beijing on Tuesday were allowed to enter supermarkets, offices and airports without having to show … Read more

BIS warns of $80 trillion of hidden FX swap debt

BIS warns of  trillion of hidden FX swap debt

LONDON, Dec 5 (Reuters) – The Bank for International Settlements (BIS) has warned that pension funds and other ‘non-bank’ financial firms now have more than $80 trillion of hidden, off-balance sheet dollar debt in the form of FX swaps. Dubbed the central bank to the world’s central banks, the BIS raised the concerns in its … Read more

Bankman-Fried says he will testify before U.S. House committee

Bankman-Fried says he will testify before U.S. House committee

Dec 4 (Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify before the House Financial Services Committee after he finished “learning and reviewing” the events that led to the spectacular collapse of his cryptocurrency exchange. The U.S. House Financial Services Committee plans to hold a hearing in December to investigate the … Read more

Exclusive: China may announce 10 new COVID easing steps on Wednesday

Exclusive: China may announce 10 new COVID easing steps on Wednesday

HONG KONG, Dec 5 (Reuters) – China may announce 10 new COVID-19 easing measures as early as Wednesday, two sources with knowledge of the matter told Reuters, supplementing 20 unveiled in November that set off a wave of COVID easing steps nationwide. Three years of zero-tolerance measures, from shuttered borders to frequent lockdowns, have battered … Read more

European markets stay cautious after China eases pandemic measures

European markets stay cautious after China eases pandemic measures

LONDON, Dec 5 (Reuters) – European stock indexes opened slightly lower on Monday, finding little support from an easing of China’s domestic pandemic restrictions, after market sentiment was dampened by U.S. jobs data on Friday that raised fears of persistent inflation. Asian shares had been boosted early on Monday by hopes that China taking steps … Read more