Economy

GM Wants U.S. Treasury to Reconsider tax Credits for Cadillac Lyriq EV 0
- Economy
- January 7, 2023
General Motors said Friday it wants the U.S. Treasury to reconsider classification of GM’s electric Cadillac Lyriq to allow it to qualify for federal tax credits. The Treasury and Internal Revenue Service did not classify the Lyriq as an SUV, meaning its retail price cannot be above $55,000 to qualify for up to $7,500 in
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China Manufacturing PMI Shrinks for 5th Straight Month in Dec – Caixin 0
- Economy
- January 3, 2023
Chinese manufacturing activity shrank for a fifth straight month in December, a private survey showed on Tuesday, as the country grappled with an unprecedented spike in COVID-19 cases after it relaxed some restrictions intended to prevent the spread of the virus. The Caixin Manufacturing Purchasing Managers Index (PMI) read 49.0 in December, higher than forecasts
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South Korea Dec Factory Activity Weakens on Demand Slump, Trucker Strike – PMI 0
- Economy
- January 2, 2023
South Korea’s factory activity shrank for a sixth consecutive month in December, a business survey showed on Monday, as the global economic downturn and a local truckers’ strike led to the worst slump in demand in 2-1/2 years. The S&P Global (NYSE:SPGI) purchasing managers’ index (PMI) for South Korea manufacturers fell to a seasonally-adjusted 48.2
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Oil Extends Rally as U.S. Supplies Tighten Ahead of Demand-Heavy Holidays 0
- Economy
- December 22, 2022
Oil prices extended gains into a fourth straight session on Thursday after inventory data showed that U.S. supplies remained tight ahead of a demand-heavy holiday season, although caution ahead of key economic readings kept gains limited. Data on Wednesday showed that U.S. crude inventories shrank far more than expected in the previous week, with decreases
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Asia FX Rallies on China Reopening Fervor, Dollar Hits 5-Month Low 0
- Economy
- December 5, 2022
Most Asian currencies rose sharply on Monday as more Chinese cities relaxed some anti-COVID measures, while improving risk appetite and expectations of smaller rate hikes saw the dollar sink to an over five-month low. The yuan was the best performer for the day, rising 0.9% to 6.9628- its strongest level against the dollar since mid-September.
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Asia FX inches Higher Ahead of Powell speech, China optimism Fades 0
- Economy
- November 30, 2022
Most Asian currencies crept higher on Wednesday as markets awaited more cues on U.S. monetary policy from Federal Reserve Chair Jerome Powell, although weak economic data from China and uncertainty over the country’s COVID policy weighed on sentiment. Still, most regional units were set to end November substantially higher on a weaker dollar and expectations
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