By Kit Rees LONDON (Reuters) - European shares edged lower on Thursday, set to break their three-day winning streak as banks fell following a set of cautious minutes from the U.S. Federal Reserve, and ...
Gold rose for a second consecutive day on Thursday after Federal Reserve officials hinted that U.S. interest rates could rise more slowly than expected, while palladium hit a new 16-year high, supported by strong industrial metals markets. The minutes of the Fed's July 25-26 policy meeting showed some policymakers wished to halt further rate increases until it is clear the trend of soft inflation is transitory. Gold is sensitive to rising interest rates because they push up bond yields, raising the opportunity cost of holding non-yielding bullion, and tend to strengthen the dollar, in which gold is priced.
Japan's exports rose for an eighth straight month in July on robust shipments to the United States and a boost from a weak yen, suggesting the economy is carrying strong momentum through to the second half of the year. The data underscores the Bank of Japan's view the world's third-largest economy is showing increasing signs of strength as private consumption adds momentum to an export-led recovery. Imports rose for the seventh straight month on brisk demand for personal computers and digital cameras from China, highlighting the strength of domestic consumption that served as a key driver of Japan's economic growth in the second quarter.
Hyundai Motor Co said on Thursday it was placing electric vehicles at the centre of its product strategy - one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla and other rivals. Like Toyota Motor Corp, Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has found itself shifting electric as Tesla shot to prominence and battery-powered cars have gained government backing in China.
Cambodian authorities have arrested nearly 400 Chinese and Taiwanese nationals this month on suspicion of operating a telecoms scam to defraud victims in China, police said on Thursday. The arrests are part of a regional crackdown as China battles telephone and internet scams that have cost billions of dollars in financial losses. Police in the Cambodian capital of Phnom Penh on Wednesday arrested 225 Chinese nationals, including 25 women, suspected of an extortion scheme using internet voice call technology, said Thou Saroeun, deputy director of the anti-terrorism police department.
Hyundai Motor Co said on Thursday it was placing electric vehicles at the center of its product strategy - one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla (TSLA.O) and other rivals. Like Toyota Motor Corp , Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has found itself shifting electric as Tesla shot to prominence and battery-powered cars have gained government backing in China.
It's a wild array of awesome machines.
