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May 19, 2025

Honda pulls back on EV strategy for now and will push hybrid sales

Honda said Tuesday electric vehicle sales were slowing in the U.S., prompting the Japanese automaker to scrap its previous goal for EVs to be 30% of its global vehicle sales by 2030. Instead of the initial plan to invest 10 trillion yen ($69 billion) in an electrification strategy through the fiscal year ending in 2031, Honda is reducing that investment by 3 trillion yen ($21 billion) to 7 trillion yen ($48 billion). Honda Motor Co. Chief Executive Toshihiro Mibe called the decisions “a switch in the planned course,” while stressing the long-term shift toward electrification remained unchanged, just pushed back in time.

May 19, 2025

Oil Edges Down as Trump Retreats From Ukraine-Russia Peace Talks

(Bloomberg) -- Oil edged lower after a two-day gain, as the market digested signs that US President Donald Trump is pulling back from his efforts to end the war between Ukraine and Russia.Most Read from BloombergAmerica, ‘Nation of Porches’NJ Transit Train Engineers Strike, Disrupting Travel to NYCNJ Transit Makes Deal With Engineers, Ending Three-Day StrikeNYC Commuters Brace for Chaos as NJ Transit Strike LoomsBrent crude traded below $66 a barrel, while West Texas Intermediate was near $63. T

May 19, 2025

Australia dollar slips as RBA cuts rates, warns on global outlook

SYDNEY (Reuters) -The Australian dollar slipped on Tuesday after the country's central bank cut interest rates as expected while highlighting the economic risks from a global trade war, supporting market wagers for further easing ahead. The Reserve Bank of Australia trimmed its cash rate by 25 basis points to a two-year low of 3.85%, citing progress in reducing inflation and global uncertainty caused by U.S. tariffs. Investors were still looking for at least two more such cuts this year to take rates to between 3.10% and 3.35%, with the RBA itself noting its new economic forecasts had assumed a total reduction of around 85 basis points from 4.10%.

May 19, 2025

JPMorgan, Citi See European Stocks Beating US by Most in Decades

(Bloomberg) -- Some Wall Street strategists are betting European stocks will enjoy their best performance relative to the US in at least two decades as the region’s economic outlook improves.Most Read from BloombergAmerica, ‘Nation of Porches’NJ Transit Train Engineers Strike, Disrupting Travel to NYCNJ Transit Makes Deal With Engineers, Ending Three-Day StrikeNYC Commuters Brace for Chaos as NJ Transit Strike LoomsThe Stoxx Europe 600 Index is expected to end the year around 554 points, accordi

May 19, 2025

Asian shares advance after China cuts interest rates to boost economy

Asian shares rallied Tuesday after China cut key interest rates to help fend off an economic malaise worsened by trade friction with Washington. Shares in China's CATL, the world's largest maker of electric batteries, jumped 17.2% in its Hong Kong trading debut after it raised about $4.6 billion in the world’s largest IPO this year. Its shares traded in Shenzhen, mainland China's smaller share market after Shanghai, gained 1.2% after dipping earlier in the day.

May 19, 2025

Asian shares advance after China cuts interest rates to boost economy

Asian shares rallied Tuesday after China cut key interest rates to help fend off an economic malaise worsened by trade friction with Washington. Shares in China's CATL, the world's largest maker of electric batteries, jumped 17.2% in its Hong Kong trading debut after it raised about $4.6 billion in the world’s largest IPO this year. Its shares traded in Shenzhen, mainland China's smaller share market after Shanghai, gained 1.2% after dipping earlier in the day.

May 19, 2025

Australia's TechnologyOne hits record high on half-year profit beat

Shares of Australian enterprise software provider TechnologyOne climbed to an all-time high on Tuesday, after it posted first-half earnings above analyst expectations. The stock climbed 12.7% to trade at A$37.2 per share as of 3000 GMT. It emerged as the top percentage gainer on the ASX200 benchmark index, which rose 0.5%.

May 19, 2025

CATL Rises in HK Debut After World’s Top Listing This Year

(Bloomberg) -- Contemporary Amperex Technology Co. Ltd. rose in its Hong Kong trading debut after the Chinese battery giant wrapped up the world’s biggest listing this year by raising HK$35.7 billion ($4.6 billion) despite being blacklisted by the Pentagon and grinding through geopolitical storms.Most Read from BloombergAmerica, ‘Nation of Porches’NJ Transit Train Engineers Strike, Disrupting Travel to NYCNJ Transit Makes Deal With Engineers, Ending Three-Day StrikeNYC Commuters Brace for Chaos

May 19, 2025

Asian stocks inch higher, Aussie dips as RBA cuts rates

SINGAPORE (Reuters) -Asian stocks rose on Tuesday while U.S. Treasury yields steadied, allowing a bit of a breathing room for the U.S. dollar as investors took stock of the debt load of the world's biggest economy and awaited trade deals. The Australian dollar slipped 0.5% to $0.64255 after the Reserve Bank of Australia lowered interest rates as expected, citing a darker global outlook, though it also remained cautious on further easing. "With the RBA sounding increasingly uneasy, the path of least resistance for the currency may remain lower," said Charu Chanana, chief investment strategist at Saxo in Singapore.

May 19, 2025

Dollar trades sideways before tax vote, Aussie falls after RBA

TOKYO (Reuters) -The dollar traded sideways on Tuesday after declining for a week, hemmed in by the Federal Reserve's caution over the economy and as U.S. lawmakers came closer to passing a bill expected to widen the nation's fiscal deficit. The Australian dollar edged lower after the Reserve Bank of Australia's cut benchmark interest rates by 25 basis points, as widely expected, and warned about uncertainty stemming from global trade tensions. Atlanta Federal Reserve President Raphael Bostic told CNBC on Monday the U.S. central bank may only be able to cut interest rates by a quarter point over the rest of the year given concerns about rising inflation stoked by higher tariffs.

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