Reuters
Analysis-Tesla's plan for affordable cars takes page from Detroit rivals
SAN FRANCISCO/AUSTIN, Texas (Reuters) - Elon Musk's new plan to use current product lines as the basis for new affordable vehicles — rather than springing for all-new models — follows the playbook of Tesla's old-school Detroit rivals, as some Tesla investors and analysts see it.
Former exec Baglino sells Tesla shares worth $181.5 million, SEC filing shows
(Reuters) - Former Tesla executive Drew Baglino has sold shares worth around $181.5 million in the world's top EV maker, according to a SEC filing on Thursday. Baglino, a Tesla veteran who began his career as an engineer in 2006 and was one of four members, along with Elon Musk, on the company's leadership team.
BOJ keeps rates steady, projects inflation staying near 2% in coming years
TOKYO (Reuters) - The Bank of Japan kept interest rates unchanged on Friday and issued fresh estimates projecting inflation to stay near its 2% target in the next three years, signalling its readiness to hike borrowing costs later this year.
Mexican lawmakers approve new pension fund backed by president
MEXICO CITY (Reuters) - Mexico's Senate approved the creation of a new pension fund on Thursday aimed at boosting payouts to the lowest-earning recipients. The creation of the fund, which is part of a pension reform proposed by outgoing President Andres Manuel Lopez Obrador, won the support of 70 senators, with 43 against and two abstentions, after a heated debate that went into the evening.
Musk's X says posts of Australia bishop stabbing don't promote violence
SYDNEY (Reuters) - Elon Musk's social media platform X defended publishing posts showing a bishop in Australia being stabbed during a sermon as "part of public discussion", rejecting a regulator's order to take down the content on grounds it is offensive and violent.
Analysis-The glitch in Japan's plans to bolster U.S. defence
TOKYO (Reuters) - As the United States faces security threats across the globe, its close ally Japan has committed to stepping up as a trusted defence partner - but Tokyo's cyber and information security vulnerabilities remain a concern, officials and experts say.
China passes tariff law as tensions with trading partners simmer
BEIJING (Reuters) - China on Friday passed a law leaving its biggest trade partners in no doubt that it can hit back should they put tariffs on the exports of the world's No.2 economy as Washington and Brussels take aim at Beijing over excess industrial capacity.
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
BEIJING (Reuters) - Beijing city authorities have announced subsidies for firms that purchase domestically produced artificial intelligence (AI) chips, as China seeks to develop its semiconductor industry and reduce reliance on foreign technology.
India begins voting in second phase of giant election as Modi vs Gandhi campaign heats up
By Dhanya Skariachan, Chris Thomas and Nikunj Ohri. BENGALURU/KOTTAYAM/MATHURA, India (Reuters) - India began voting on Friday in the second phase of the world's biggest election, as Prime Minister Narendra Modi and his rivals raise the pitch of the campaign by focusing on hot-button issues such as religious discrimination, affirmative action and taxes.
Asia stocks, yen tentative with eyes on BOJ decision
SINGAPORE (Reuters) - Asian shares rose cautiously on Friday as markets sobered up to the idea that U.S. rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy decision by the Bank of Japan.
Pakistan central bank expected to hold rates on Monday ahead of IMF deal, Reuters poll finds
KARACHI (Reuters) - Pakistan's central bank is widely expected to hold its key interest rate at a record 22% for the seventh straight policy meeting on Monday as Pakistan gears up for an International Monetary Fund board approval and talks on a longer term programme.
Blinken meets Chinese counterpart Wang Yi in Beijing
BEIJING (Reuters) -U.S. Secretary of State Antony Blinken met Chinese Foreign Minister Wang Yi in Beijing on Friday for talks across a range of complex issues, including deepening strains over China's backing of Russia's invasion of Ukraine.
South Korea's public finances no longer a credit rating 'strength', Fitch says
SEOUL (Reuters) - South Korea's public finances are no longer a strength for its sovereign credit rating but are now a neutral factor requiring near-term efforts to contain the rise in debt, global ratings agency Fitch said.
Oil prices rise as US official eases market concerns over economic headwinds
(Reuters) - Oil prices rose in early trade on Friday, as players took stock of the U.S. Treasury secretary's comments that the country's economy is likely in a stronger position than indicated by weak first-quarter data, coupled with supply concerns as conflict continues in the Middle East.
Japan's yen hits 34-year low after BOJ holds interest rates
SINGAPORE (Reuters) -The yen hit its weakest in three decades against the U.S. dollar after the Bank of Japan left interest rates on hold on Friday, keeping traders on edge as to when and to what degree authorities in Tokyo may intervene.
Japan concerned about weak yen's negative effects, Finance Minister says
TOKYO (Reuters) -Japan is concerned about negative effects of the weak yen, Finance Minister Shunichi Suzuki said on Friday, in a fresh warning against speculators as the currency has continued to slide to lows last seen more than three decades ago.
Trump compares campus Israel protests to 2017 white nationalist rally
(Reuters) - Donald Trump on Thursday criticized the mostly peaceful protests on U.S. college campuses over Israel's war in Gaza, describing them as "tremendous hate," while saying that the violence at a white nationalist rally in Virginia when he was president was by comparison "a little peanut."
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