MOSCOW (Reuters) -Russia and Toyota said on Friday that the Japanese carmaker’s factory in St Petersburg had been handed over to state entity NAMI, with Moscow snapping up more assets from global automakers leaving Russia over the conflict in Ukraine. “Toyota’s production site in St Petersburg has… been transferred to the state,” Russia’s Ministry of […]

By Joe Cash and Shuyan Wang BOAO, China (Reuters) -Chinese Premier Li Qiang said on Thursday that he was committed to opening up and reforming the world’s second-largest economy, seeking to win over foreign investors even as trade and geopolitical tensions with the West loom large. His keynote speech, delivered at a business and political […]

By Krystal Hu NEW YORK (Reuters) – Microsoft-backed OpenAI is no longer the only game in town for software developers looking to capitalize on an expected $90 billion market for artificial intelligence. Motivated by a wariness of relying on a single company, a desire for models tailored to specific tasks and the chance to cut […]

By Sruthi Shankar and Francesco Canepa (Reuters) -Investor confidence in the banking sector remained fragile on Tuesday, with the European Central Bank (ECB) saying recent volatility highlighted the need for greater regulatory scrutiny. European bank stocks weakened slightly, while in the U.S. the S&P 500 banking index rose 0.3%, the S&P 500 regional banking index […]

By Julie Zhu, Kane Wu and Kevin Huang HONG KONG/BEIJING (Reuters) – Alibaba founder Jack Ma has returned to China, ending a stay overseas of more than a year that industry viewed as reflecting the sober mood of its private businesses, and which sources said eventually spurred the new premier to reach out. The return […]

By Lisa Baertlein LOS ANGELES (Reuters) – There is no such thing as free shipping. Even so, Amazon.com Inc and other online retailers who use so-called free delivery to cultivate customer loyalty are scrambling to keep it from draining profits as costs climb and e-commerce contracts. They are adding fees for faster service, raising minimum […]

(Reuters) -General Mills Inc on Thursday raised its fiscal 2023 forecasts for a fourth time after beating estimates for quarterly results, helped by price increases and steady demand for its packaged-food products. Multinational packaged food companies have been bumping up their product prices to shield their profit margins from spiraling costs and have faced low […]

By Tom Wilson LONDON (Reuters) – At the turn of the year, bitcoin was in the grip of a bleak midwinter, down and out after a 2022 defined by tumbling crypto prices, bankruptcies and corporate scandals. Less than three months later, bitcoin’s got its mojo back. With gains of more than 70% so far this […]