Reuters Financial News
27.09 / 12:43
UPS
Reuters
Yellow
PINK
show
reports
spring
week
Paris Fashion Week: Dior unveils spring collection with a contemporary twist on femininity & stereotypes
PARIS, Sept 26 — Dior designer Maria Grazia Chiuri unveiled a spring collection on Tuesday that mixed masculine and feminine styles, with full, airy skirts in black mesh and solemn tailored jackets, throwing in faded fabrics, unfinished edges and tops baring one shoulder. Chiuri said she sought to revisit stereotypes of women while updating the codes of the fashion house in a contemporary manner, allowing women to choose what suits them. «It's a reflection about image, about the narrative and how we build — in some way — a stereotype in our mind,» Chiuri told Reuters. Models wove around a darkened set lit up with bright yellow and pink screens showing artwork by Elena Bellantoni of advertisements since the 1960s, featuring caricatures of women's roles. «I used yellow and pink — colours that are used for highlighter pens — because I wanted to highlight the discourse that has put women in a cage for 70 years,» Bellantoni told reporters. Chiuri used knitwear techniques to lighten the weight of a pleated skirt, and took on pointy-toed kitten heels, turning them into gladiator shoes, with rows of straps running up the leg, fastened with pearls. Intricate ivory knit dresses, an ample jean jacket and a ruffled dress came in faded colours, as if aged, while a dress was embellished with embroidered flowers. «I really like this idea, to think how the material can change with time,» said Chiuri, who designed a couture gown worn by Queen Camilla at a banquet at the Palace of Versailles for King Charles's state visit in France last week. The LVMH-owned fashion label's show saw onlookers angle for photos of celebrities, including Blackpink member Jisoo, Charlize Theron, Elle Macpherson and Rosalia. Paris Fashion Week, which
27.09 / 12:43
UPS
Reuters
Digital
Apple
Southern
reports
testing
Pegatron India fire traced to workers' failure to turn off switch
Pegatron India was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, two sources briefed on the matter told Reuters. The lapse at key Apple supplier Pegatron's only factory in India, located in the southern state of Tamil Nadu, cost two straight days of lost production.
27.09 / 10:15
Reuters
Manufacturing
Toyota
country
Toyota plans third India plant, new SUV as domestic sales surge
Toyota Motor plans to build a third car plant in India, expanding production capacity in the country for the first time in over a decade as its partnership with Suzuki Motor boosts domestic volumes, two sources said. The world's biggest car maker wants the plant to start with capacity of 80,000-120,000 vehicles a year, which could grow to around 200,000 over time, said one of the people who has direct knowledge of the plans. The plant's proposed initial capacity would expand Toyota's existing manufacturing capacity in India by as much as 30% from 400,000 units currently. Toyota has also begun development of a new sport utility vehicle (SUV) for the Indian market that would be launched in early 2026 and be an anchor product for the new factory, said the person and a third source briefed on the company's plans. The sources declined to be identified as the automaker has not disclosed the expansion plans. A representative for Toyota's India unit declined to comment. Toyota's India sales have soared due to a global partnership with Suzuki under which the two Japanese car makers take some vehicles originally developed by their partner, then tweak and sell under their own brands to fill out their product line-up. Cars originally from Maruti Suzuki's stable such as the Glanza hatchback and Urban Cruiser Hyryder SUV now account for 40% of Toyota's India sales. About two-thirds of Toyota's current production capacity is used by Maruti Suzuki to build vehicles for both car makers as part of their partnership. Toyota, known for its Fortuner SUV and Camry hybrid in India, told Reuters earlier in September it expects record domestic sales in 2023. The Japanese car maker is now aiming to have production capacity of 500,000
27.09 / 10:01
Reuters
Apple
FLEX
information
Department
Tax Dept searches offices of Apple supplier Flex in Chennai
India's income tax department conducted searches at the premises of Apple supplier Flex in Tamil Nadu state, a source said on Wednesday. Income tax officials have visited the Chennai factory as part of the inquiry, the source said, adding that Flex has yet to be informed about the purpose of the visit. The income tax department did not immediately respond to a Reuters' request for comment.
27.09 / 10:01
Reuters
Apple
FLEX
reports
Department
Income tax department searches Apple supplier Flex premises
income tax department conducted searches at the premises of Apple supplier Flex in Chennai in Tamil Nadu state, local media reported on Wednesday. The IT department did not respond to a Reuters' request for comment.
27.09 / 07:17
UPS
Reuters
Aware
Adventure
show
country
end
Canadian farmers may end up paying the price for Justin Trudeau's adventurism
Nijjar at a gurdwara in Surrey in June can have far-reaching implications for ties between the two countries. Many think Trudeau has thrown Canada's national interest under the bus for narrow political gains.
27.09 / 05:29
Target
Reuters
economy
WhatsApp
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country
reports
India’s GDP growth seen at 6.2% in FY24, fastest among major economies: Reuters poll
Also Read: Corporate investments are still to show a long-awaited recovery After a stellar 7.8% expansion last quarter, economic growth was expected to moderate to 6.4% in July-September quarter and then drop to 6.0% in the October-December period before slowing to 5.5% in early 2024. A majority of economists, 22 of 36, who answered an additional question said the risks to their FY 2023/2024 GDP growth forecasts were skewed to the downside.
27.09 / 04:13
Reuters
CEO
JPMorgan
WhatsApp
Rupee opens flat at 83.23 against the US dollar
rupee ended 8 paise lower at 83.23 a dollar. The rupee hit its record level of 83.29 in October 2022. Also Read: India could be the largest beneficiary: JPMorgan CEO explains why as companies look options beyond China Asian currencies were mostly weaker with the Korean won leading losses.
27.09 / 04:13
UPS
Target
Reuters
WhatsApp
Department
prevention
NOT
US bans three more Chinese companies: ‘We do not tolerate…’
labour, has recently broadened its restrictions on Chinese imports. Three companies, Xinjiang Tianmian Foundation Textile Co Ltd, Xinjiang Tianshan Wool Textile Co. Ltd, and Xinjiang Zhongtai Group Co.
27.09 / 02:51
UPS
Reuters
Manufacturing
CEO
JPMorgan
economy
WhatsApp
India could be the largest beneficiary: JPMorgan CEO explains why as companies look options beyond China
JPMorgan for Asia Pacific, highlighted the growing enthusiasm for the "China plus one" approach among businesses. He emphasised that India, among other nations, stands to reap substantial benefits from this strategy, potentially emerging as the primary beneficiary.
27.09 / 02:13
Reuters
Microsoft
Google
Platform
WhatsApp
Inside
reports
valuation
ChatGPT-owner OpenAI skyrockets in valuation amid AI gold rush, to be valued at $90 billion after sale of existing share
OpenAI is reportedly in talks to sell existing shares in a deal that could catapult its valuation to a staggering $80 to $90 billion, according to unnamed sources cited by both Reuters and the Wall Street Journal. This massive valuation increase comes amidst an AI investment boom, positioning OpenAI as one of the world's most valuable privately-held companies. The surge in valuation would be nearly triple compared to what the firm was worth after a share sale earlier in 2023, according to the Wall Street Journal.
27.09 / 01:51
Reuters
open
Evergrande shares set to open down 3.8% amid uncertainty over debt revamp plan
HONG KONG (Reuters) — Shares of China Evergrande (HK:3333) were set to extend losses on Wednesday after sources told Reuters that some of its offshore creditors are planning to join a winding-up court petition filed against the embattled developer if it doesn't submit a new debt revamp plan by next month.
27.09 / 01:13
Citi
Reuters
Manufacturing
Eagle
President
Mexican goods worth $1 billion stuck at US border amid migration checks
By Jose Gonzalez and Laura Gottesdiener
27.09 / 01:12
Reuters
Death
Celebrity
show
information
More than 100 dead, 150 injured in Iraq wedding inferno
Hamdaniya district in Iraq's Nineveh province that left civil defence searching the charred skeleton of a building for survivors into the early hours of Wednesday. Nineveh Deputy Governor Hassan al-Allaq told Reuters that 113 people had been confirmed dead, with state media putting the death toll at at least 100, with 150 people injured. The fire ripped through a large events hall in the north-eastern region after fireworks were lit during the celebration, local civil defence said, according to state media. «We saw the fire pulsating, coming out of the hall. Those who managed got out and those who didn't got stuck.
26.09 / 21:35
UPS
Reuters
Digital
WSJ
reports
valuation
OpenAI seeks valuation of up to $90 billion in sale of existing shares
OpenAI is talking to investors about a possible share sale that would value the artificial-intelligence startup behind ChatGPT at between $80 billion to $90 billion, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The deal is expected to allow employees to sell their existing shares as opposed to the company issuing new ones to raise additional capital, according to the report.
26.09 / 18:07
26.09 / 18:05
Reuters
WhatsApp
information
reports
China Evergrande’s offshore creditors to join winding-up petition if it fails to submit new debt revamp plan: Report
Reuters citing two sources. In March, Evergrande had unveiled offshore debt restructuring plan, but uncertainty has surrounded it after the developer on Sunday said that it was unable to issue new debt due to an ongoing probe into its main unit in China.
26.09 / 17:29
26.09 / 16:29
26.09 / 16:29
26.09 / 15:37
UPS
Target
Reuters
Action
Gap
reports
Higher-for-longer rates keep euro zone yields near multi-year highs
Euro zone government bond yields held near multi-year highs on Tuesday as the narrative that global central banks would keep interest rates «higher for longer» continued to drive price action. Italy is also under growing market scrutiny as Prime Minister Giorgia Meloni is set to announce a new budget against the backdrop of a weakening growth outlook. Reuters earlier reported that Italy is likely to raise its 2024 budget deficit target to between 4.1% and 4.3% of gross domestic product, however, the fiscal gap is seen below 4% of GDP under current trends, allowing leeway for several billion euros to fund measures in the upcoming budget. Germany's 10-year government bond yield, the euro area's benchmark, was last flat at 2.788%, having briefly hit a 12-year high of 2.813% in early trade. Bonds yields move inversely with prices. Italy's 10-year yield was last up 4.4 bps at 4.697%, after hitting its highest level since October.
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