Tesla Faces Hurdles Expansion as China Delays Approvals
Tesla’s ambitious plan to expand its auto production in Shanghai is encountering obstacles as it awaits approval from Chinese authorities to develop a 70-hectare plot of former farmland. The National Development and Reform Commission (NDRC) of China has adopted a cautious approach in granting approval for new electric vehicle (EV) production More...
Toyota Suspends Yaris Sales Over Safety Test
Japanese automaker Toyota Motor Corp has halted sales and deliveries of its Yaris Ativ model in Thailand following revelations that part of the door was rigged in side-collision safety tests. Toyota’s More...
Gold Demand and Prices Surge on Weak Dollar and Recession
The demand for gold is on the rise, and its price is increasing due to developments on the foreign exchange market. The US dollar has lost value recently, which has led to an increase in demand for gold as More...
Asian Stocks Stagnant as Inflation Concerns Loom
Asian stocks were mostly stagnant on Tuesday as investors grappled with inflation concerns following the surprise cuts to OPEC+ group’s oil output targets. This announcement led to a 6% overnight jump More...
USD Rises Slightly as UBS Takeover Eases Banking Crisis
The US dollar rose slightly on Tuesday, but remained close to a five-week low as investors cautiously returned to riskier assets after UBS’ state-backed takeover of Credit Suisse eased some concerns over More...
US Banks Inject $30B to Rescue First Republic Bank
U.S. banks injected $30 billion in deposits into First Republic Bank (FRC.N) on Thursday, in an effort to rescue the lender caught up in a widening crisis triggered by the collapse of two other mid-size U.S. More...
Credit Suisse Shares Plummet Shareholder Withdraws Support
Credit Suisse, Switzerland’s second-largest bank, suffered a massive blow to investor confidence after its largest shareholder, Harris Associates, announced its inability to provide any further support More...
US Banking Crisis Looms: Silicon Valley Bank Collapses
The US banking sector is facing a major crisis as Silicon Valley Bank, the second-largest bankruptcy in the country’s history, collapsed at a record speed. This has sparked fears of a global banking crisis More...
Asian Shares Edge Up Ahead of US Rate Outlook Update
Asian shares inched higher on Monday as investors awaited an update on the US interest rate outlook from Federal Reserve Chair Jerome Powell, and a jobs report that could have implications for future rate hikes. The More...
Austria’s Solar Panel Sales Soar Despite Prices Hike
Geizhals.at, the popular price comparison platform, has released its latest report on price changes across various product categories. The report indicates that Solar panel sales saw a significant increase More...
