By Hyunjoo Jin SAN FRANCISCO (Reuters) -U.S. electric vehicle startup Rivian Automotive Inc said on Tuesday it has increased selling prices of its vehicles by about 20% due to inflationary pressures and higher component costs, angering some customers. The price increase also invited caustic comments from Elon Musk, chief executive of rival Tesla Inc, who…
BEIJING (Reuters) – China’s Haidilao, which operates a chain of hotpot restaurants, said its billionaire founder Zhang Yong has stepped down as CEO and will shift his focus to long-term strategy planning. The move, which comes amid efforts by Haidilao to slash store numbers, has seen Yang Lijuan, 43, formerly deputy CEO and chief operating…
BEIJING (AP) — Oil prices surged another $7 per barrel on Wednesday after an agreement by the United States and other major governments to release supplies from strategic stockpiles failed to calm anxiety over Russia’s attack on Ukraine. Benchmark U.S. crude rose $7.94 to $111.35 per barrel in electronic trading on the New York Mercantile…
By Hyunjoo Jin SAN FRANCISCO (Reuters) -U.S. electric vehicle startup Rivian Automotive Inc said on Tuesday it has increased selling prices of its vehicles by about 20% due to inflationary pressures and higher component costs, angering some customers. Rivian, in which Amazon.com Inc holds a 20% stake, said the starting price of its R1T electric…
By David Shepardson, Jamie Freed and Foo Yun Chee (Reuters) -The United States will follow the European Union and Canada in banning Russian flights from its airspace, President Joe Biden said on Tuesday evening, in a move likely to trigger Russian retaliation. United Airlines and United Parcel Service (UPS) said on Tuesday they had suspended…
By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result of Moscow’s invasion of Ukraine. The decision will see Exxon pull out of managing large oil and gas production facilities on…
WASHINGTON (Reuters) – U.S. airplane manufacturer Boeing Co said on Tuesday it was suspending parts, maintenance and technical support for Russian airlines as well as major operations in Moscow after Russia’s invasion of Ukraine. “As the conflict continues, our teams are focused on ensuring the safety of our teammates in the region,” a Boeing spokesperson…
By Dawn Chmielewski and Ross Kerber (Reuters) -Some of America’s best-known companies including Apple, Google, Ford, Harley-Davidson and Exxon Mobil rebuked and rejected Russia for its invasion of Ukraine, under steady pressure from investors and consumers decrying the violence. Apple Inc late on Tuesday said it had stopped sales of iPhones and other products in…
By David Shepardson, Jamie Freed and Foo Yun Chee (Reuters) -The United States is set to ban Russian flights using American airspace following similar action by the European Union and Canada, government and industry officials told Reuters, a move likely to trigger Russian retaliation. President Joe Biden is expected to announce the ban during his…
By Dawn Chmielewski and Ross Kerber (Reuters) – Some of America’s best-known companies including Apple, Google, Ford and Harley-Davidson rebuked and rejected Russia for its invasion of Ukraine, under steady pressure from investors and consumers decrying the violence. Apple Inc late on Tuesday said it had stopped sales of iPhones and other products in Russia,…
