Town Hall News

SHANGHAI (Reuters) – BYD Co Ltd launched on Wednesday five lower-priced versions of its Seal sedan, as the Chinese electric vehicle (EV) giant seeks to extend its lead in the world’s largest market for new-energy cars. The price of the rear-wheel drive Seal Champion Edition with a 550 kilometre (341.75 miles) driving range per charge starts at 189,800 yuan ($27,459.09), 10% lower than a previous version with the same driving […]

SHANGHAI (Reuters) – BYD Co Ltd launched on Wednesday five lower-priced versions of its Seal sedan, as the Chinese electric vehicle (EV) giant seeks to extend its lead in the world’s largest market for new-energy cars. The price of the rear-wheel drive Seal Champion Edition with a 550 kilometre (341.75 miles) driving range per charge starts at 189,800 yuan ($27,459.09), 10% lower than a previous version with the same driving […]

By Julie Zhu HONG KONG (Reuters) – CICC Capital, a unit of leading Chinese investment bank CICC, has stopped using Capvision Partners’ services, three sources said, following an investigation into the “expert network” as part of Beijing’s crackdown on national security. Shanghai-based Capvision is the latest consultancy and due diligence firm to get caught in Beijing’s sweeping crackdown on what state media describes as “intensifying” law enforcement push around sensitive […]

By Summer Zhen HONG KONG (Reuters) – People in China splashed out on dining, travel and luxury goods after emerging from three years of pandemic restrictions but are still not spending freely on routine consumer items, if first quarter corporate results are an indication. There was a broad bounce in earnings after China ended its zero-COVID policy involving city-wide lockdowns and extensive quarantine in December, but consumer caution over global […]

By Stephanie Kelly and Muyu Xu (Reuters) – Oil prices fell on Wednesday, ending a three-day rally, as an unexpected rise in U.S. oil inventories sparked demand concerns and investors awaited U.S. inflation data to gauge the next rate decision in the top oil consuming nation. Brent crude dropped 69 cents, or 0.9%, to $76.75 a barrel at 0643 GMT, while U.S. West Texas Intermediate (WTI) crude fell 67 cents, […]

LONDON (Reuters) – Bank of America has hired former BNP Paribas banker Benoit Nevouet to be the manager of a newly created Luxembourg branch as the U.S. lender seeks to grow its business in Europe, a senior executive at Bank of America told Reuters. The opening of a branch in the small but wealthy country will mean Bank of America can help clients such as investment funds with local bank […]

NEW DELHI (Reuters) -An Indian tribunal on Wednesday granted bankruptcy protection to Go Airlines (India) Ltd, a move that will help the country’s fourth-largest carrier attempt to revive itself but complicate foreign lessors’ efforts to repossess their planes. The low-cost carrier, recently rebranded as Go First, has said its financial crisis was sparked by “faulty” Pratt & Whitney engines that grounded about half its 54 Airbus A320neos. The U.S. engine […]

By Rae Wee SINGAPORE (Reuters) – The dollar weakened broadly on Wednesday after U.S. President Joe Biden and top lawmakers failed to break a deadlock on the debt ceiling crisis, though currency moves were marginal amid caution ahead of U.S. inflation data later in the day. Biden and House of Representatives Speaker Kevin McCarthy remained divided over raising the $31.4 trillion U.S. debt limit following talks on Tuesday, with just […]

ISLAMABAD (Reuters) -Supporters of Imran Khan were planning to march to Islamabad on Wednesday where the former Pakistan prime minister is in custody in a corruption case, raising fears of more clashes with security forces. Mobile data services in the country were shut while Twitter, YouTube and Facebook were disrupted. Television carried watered-down coverage of violence that erupted on Tuesday. Authorities in three of Pakistan’s four provinces have imposed an […]