Reuters exclusively reported[1] that Volkswagen has walked away from talks with Renault to jointly develop an affordable electric version of the Twingo car, in a setback for the EU carmakers’ efforts to fend off Chinese rivals.
Basel battle: Goldman's unlikely foot soldiers in the fight against bank capital hikes
Business & Finance
Reuters exclusively reported[1] on Goldman Sachs’ aggressive campaign to water down a proposal to raise capital requirements for big banks. A Reuters review of private Goldman documents, interviews with program participants and public
Fed's Williams welcomes inflation data, not ready to seek rate cuts
Economy
Federal Reserve Bank of New York President John Williams told Reuters[1] he welcomed the arrival of softer consumer inflation data but said that positive news is not enough to call for the U.S. central bank to cut interest rates sometime soon.
US warned Raiffeisen access to dollar system could be curbed over Russia
Reuters exclusively reported[1] that Raiffeisen Bank International was warned by the U.S. Treasury in writing that its access to the U.S. financial system could be curbed because of its Russia dealings.
Market Impact
The United StatesBHP-Anglo American deal raises alarm in Japan's steel industry
CommoditiesDeals
Reuters exclusively reported[1] that Japanese steelmakers have raised concerns with Australian authorities that BHP Group could become too dominant in the global supply of coking coal if it goes ahead with a takeover of Anglo American.
India projects biggest power shortfall in 14 years in June
Reuters exclusively reported[1] that India is projecting its biggest power shortfall in 14 years in June after a slump in hydropower generation and is racing to avoid outages by deferring planned plant maintenance and re-opening idled units.
Market
US eyes curbs on China's access to AI software behind apps like ChatGPT
Technology
Reuters exclusively reported[1] that the Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China with preliminary plans to place guardrails around the most advanced AI Models, the core software of