Town Hall News

SHANGHAI (Reuters) -Tesla Inc Chief Executive Elon Musk departed Shanghai Thursday morning, wrapping up a two-day trip to China in which he met government ministers, a key battery supplier and visited the automaker’s biggest production hub. Photos of Musk’s visit to Tesla’s Shanghai factory late Wednesday showed him holding up a “Giga Shanghai” sign, flanked by hundreds of staff including head of global manufacturing Tom Zhu. “A very rewarding day!,” […]

By Leika Kihara TOKYO (Reuters) – The Bank of Japan must keep monetary policy ultra-loose as it will take time to re-anchor inflation expectations to its 2% target, International Monetary Fund’s chief economist Pierre-Olivier Gourinchas told Reuters. But the central bank must be vigilant to the risk of price growth overshooting expectations, and be ready to tighten policy if inflation stays above its target for too long, he said. “There’s […]

By Leika Kihara TOKYO (Reuters) – Factories in Asia’s largest economies stepped up a gear in May as supply chain problems eased, business surveys showed on Thursday, but sluggish global demand remained a major challenge for many of the region’s big exporters. Purchasing managers’ indexes (PMIs) for China and Japan showed swings in factory activity to growth in the month, in contrast to weak indicators from South Korea, Vietnam and […]

(Reuters) -A Russian missile attack on Kyiv killed three people including two children and injured 14 on Thursday, officials in the Ukrainian capital said. The Kyiv military administration said in a statement the attack struck the Desnyanskyi region on the capital’s eastern outskirts as well as Dniprovkskyi district, closer to the centre. It was the 18th attack on the capital this month. Kyiv Mayor Vitali Klitschko said nine people needed […]

By Laurie Chen BEIJING (Reuters) – Applied maths graduate Liang Huaxiao tried to land a job with one of China’s tech giants for two years. Then she tried customer service and sales. Then she applied for assistant roles in a bakery and in a beauty parlour. Like a rising number of her highly educated peers, Liang keeps trading down to try and find a source of income in China’s worst […]

WASHINGTON (AP) — Veering away from a default crisis, the House approved a debt ceiling and budget cuts package late Wednesday, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans against fierce conservative blowback and progressive dissent. The hard-fought deal pleased few, but lawmakers assessed it was better than the alternative — a devastating economic upheaval if Congress failed to act. Tensions […]

By Hyunsu Yim SEOUL (Reuters) -North Korea’s Kim Yo Jong, leader Kim Jong Un’s sister, said her country would soon put a military spy satellite into orbit and promised Pyongyang would increase its military surveillance capabilities, state media KCNA reported on Thursday. “It is certain that (North Korea’s) military reconnaissance satellite will be correctly put on space orbit in the near future and start its mission,” Kim, a powerful government […]

By Farah Master HONG KONG (Reuters) -An absence of women among China’s top leadership is concerning, the United Nations said in a report, as it recommended China adopt statutory quotas and a gender parity system to quicken equal representation of women in government. The recommendations for China by the UN Committee on the Elimination of Discrimination against Women, published on Tuesday, was made alongside findings on Germany, Iceland, Sao Tome […]

By Lananh Nguyen, Saeed Azhar and Nupur Anand NEW YORK (Reuters) -Bank of America Corp expects good performance for its retail business in the second quarter, buoyed by resilient consumer demand, a senior executive said on Wednesday. “The consumer is still very healthy,” Holly O’Neill, Bank of America’s president of retail banking, said at a Reuters Newsmaker event. “Savings and account balances are still well above where they were pre-pandemic, […]