(Reuters) -Ford Motor Co is planning new investment of up to $20 billion in building its electric vehicles, Bloomberg News reported on Tuesday. The additional investment will be spread out over the next five to ten years and will include converting its present factories around the world to electric-vehicle production, the report https://bit.ly/3L4LFxS said, citing…
As we started 2022, investors aggressively shed exposure to the tech industry. Concerns over high valuations in a raising rate environment was a key driver for this price action. This type of environment opens opportunities as good names can get caught up in the price action. The proverbially ‘throwing the baby out with the bathwater’….
By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil Corp on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices. The company slashed spending after fuel demand cratered two years ago. Since then, earnings have topped pre-pandemic levels, helped by the…
By Nate Raymond (Reuters) -The three largest U.S. drug distributors and drugmaker Johnson & Johnson have agreed to pay $590 million to resolve claims by Native American tribes that the companies fueled an opioid epidemic in their communities, according to court filings. Tuesday’s deal came after the distributors, McKesson Corp, AmerisourceBergen Corp and Cardinal Health…
By Lucia Mutikani WASHINGTON (Reuters) -A measure of U.S. manufacturing activity fell to a 14-month low in January amid an outbreak of COVID-19 infections, supporting the view that economic growth lost steam at the start of the year. But the survey from the Institute for Supply Management (ISM) on Tuesday marked the third straight month…
WASHINGTON (Reuters) – The United Auto Workers (UAW) will directly elect officers after members voted in a referendum that was required as part of a 2020 Justice Department settlement to resolve a corruption probe. U.S. District Judge David Lawson in Detroit on Tuesday approved the results of the referendum and ordered the change by June,…
(Reuters) – A U.S. judge extended on Tuesday a legal shield protecting the Sackler family owners of Purdue Pharma from lawsuits to Feb. 17 as they try to reach a deal with several U.S. states to settle sprawling litigation stemming from the country’s opioid crisis. (Reporting by Tom Hals in Wilmington, Delaware)
By Jeffrey Dastin (Reuters) – When Amazon.com Inc on Thursday reports how it fared during the holiday quarter, a key question will be if the retailer will finally raise the price of Prime, its fast-delivery and media subscription. The company has every reason to do so, analysts say. Amazon had to pay higher wages and…
WASHINGTON (AP) — U.S. employers stepped up their search for workers in December despite the looming impact of the omicron wave of coronavirus infections. The number of posted jobs rose 1.4% to 10.9 million on the last day of December, compared with the previous month, the Labor Department said Tuesday. That is far higher than…
TORONTO (Reuters) – Canadian manufacturing activity expanded at the joint-slowest pace in 11 months in January as material shortages and disruptions from the Omicron coronavirus variant held back output, data showed on Tuesday. The IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) fell to a seasonally adjusted 56.2 in January from 56.5 in December, matching…
