Cuts
Chinese EV makers defy industry slump as price cuts boost sales
PRICE cuts and new models helped Chinese electric vehicle (EV) makers, including BYD and Nio, continue to grow sales in May even as the overall market for passenger cars...
Opec+ agrees to extend oil output cuts in bid to support prices
THE Organization of Petroleum Exporting Countries and its allies (Opec+) agreed to extend its oil supply cuts, delegates said, as the group continues its efforts to avert a global...
ECB seen making fewer rate cuts in fight to curb inflation risks
Economists are dialling back their expectations for how far the European Central Bank (ECB) will lower interest rates after it starts cutting next week, according to a Bloomberg survey.Respondents...
Opec+ discuss keeping voluntary oil cuts until year-end
OPEC+ members that are making 2.2 million barrels per day of voluntary oil output cuts are discussing extending them until the end of the year, three Opec+ sources said...
American Airlines cuts profit outlook as commercial chief departs
AMERICAN Airlines disclosed the departure of its chief commercial officer and cut its profit guidance heading into the crucial summer travel season, dragging shares down across the US airline...
Shell plans job cuts in offshore wind business
SHELL is preparing to cut staff from its offshore wind business as chief executive officer Wael Sawan moves the company away from the capital-intensive renewable energy sector.The British oil...
Oil up on prospect of Opec+ holding cuts, weaker US dollar
OIL prices rose by more than US$1 a barrel on Tuesday on the expectation that Opec+ will maintain crude supply curbs at its June 2 meeting, while a weaker...
Nvidia cuts China prices in Huawei chip fight: sources
NVIDIA’S most advanced artificial intelligence (AI) chip it developed for the China market has got off to a weak start, with abundant supply forcing it to be priced below...
