By David Shepardson WASHINGTON (Reuters) -Volkswagen AG agreed to a $3.5 million settlement with Ohio over claims the German automaker violated state laws by manipulating vehicle computer software in its vehicles to mask carbon dioxide emissions, the state attorney general said. In November, the U.S. Supreme Court rejected Volkswagen’s bid to avoid lawsuits filed by…
GENEVA (AP) — Government and business leaders have urged cooperation on the world’s biggest issues — climate change, the coronavirus pandemic and the economic recovery — at the World Economic Forum’s virtual gathering. Speeches and discussions from the likes of Chinese President Xi Jinping and U.N. Secretary-General Antonio Guterres moved online this week after COVID-19…
By Balazs Koranyi, Leika Kihara and David Lawder (Reuters) – The world’s biggest central banks, moving in tandem at the height of the pandemic, are set to tighten policy at vastly different speeds, likely increasing economic and market volatility this year, top policymakers said on Friday. Central banks unleashed unprecedented stimulus in recent years to…
(Reuters) -More than 8,000 workers at nearly 80 Kroger Co-owned King Soopers stores on Friday called off their strike after reaching a tentative deal with the U.S. retail giant, the United Food and Commercial Workers Local 7 union said. The details of the contract would be made public in the coming days to the union…
(Reuters) – Investors stepped up selling in global bond funds in the seven days to Jan. 19 as hawkish remarks from U.S. Fed officials amid rising inflationary pressure solidified expectations that the central bank will tighten monetary policy as early as March. Investors offloaded global bond funds of $4.12 billion, that topped previous weeks outflows…
TAIPEI (Reuters) – Taiwan-based Foxconn said it has partnered with Indonesia’s Investment Ministry and several companies to support the development of electric cars in the Southeast Asian country, adding to a string of such deals by the iPhone assembler. Foxconn, Apple’s main iPhone maker, has expanded its activities in electric vehicles (EVs) in recent years,…
COLUMBUS, Ohio (AP) — Chipmaker Intel said Friday it will invest $20 billion to build a new factory in Ohio, an attempt to help alleviate a global shortage of chips powering everything from phones to cars to home appliances while also signaling the giant company’s commitment to manufacturing crucial technology products in the U.S. The…
By Tommy Wilkes LONDON (Reuters) – Stock markets dropped on Friday, following on from a late slump in the U.S. as fears about the pace of monetary policy tightening and weaker-than-expected earnings from companies that soared in the pandemic hit investor confidence. Oil prices pulled back too as another bout of risk aversion spread rapidly…
(Toyota corrects number of affected plants to 12 from 11) TOKYO (Reuters) -Toyota Motor Corp is slowing production at as many as 12 plants in Japan because of rising COVID-19 infections among its workers and those at parts suppliers, it said on Thursday. That disruption, which comes amid a shortage of semiconductors that is already…
LONDON (Reuters) – Pandemic market darlings Netflix and Peloton each saw about a fifth of their market value wiped out on Thursday after both said business was slowing, a sign, say analysts, of growing market jitters about the business prospects of such companies. Peloton shares plunged 24% on Thursday wiping off nearly $2.5 billion in…
