SAGUNTO, Spain (Reuters) – German carmaker Volkswagen AG and partners will invest 10 billion euros ($10.6 billion) to make electric vehicles and batteries in Spain, its chief executive said on Thursday, 3 billion euros more than it had previously committed. The company also announced a partnership deal with Spain’s largest power utility Iberdrola, which will…
By Dietrich Knauth (Reuters) -Walgreens Boots Alliance said on Thursday it has reached a $683 million settlement with Florida to resolve claims that the pharmacy chain exacerbated an opioid epidemic in the state. The settlement includes $620 million to be paid to Florida over 18 years, plus $63 million for legal fees. Florida is the…
MILAN (AP) — Across Europe, rising energy prices are testing the resolve of ordinary consumers and business owners who are caught between the continent’s dependence on cheap Russian energy and its revulsion over President Vladimir Putin’s invasion of Ukraine. Governments are trying to replace energy supplies from Russia, mindful that their regular payments are funding…
(Reuters) -Nikola Corp reported wider quarterly losses on Thursday, with the electric-truck maker incurring higher costs as it ramped up production of its electric semi trucks. Electric vehicle companies have been facing inflationary pressures, including rising prices for battery materials and other components, exacerbated by the Russian invasion of Ukraine. Nikola started manufacturing its battery…
NEW YORK (AP) — Amid the push to get U.S. boardrooms to look more like companies’ customers and employees, advocates are finally seeing just how steep the task will be. Boards of directors at publicly traded U.S. companies are much more white and much less diverse than the overall population, often starkly so. Just 2.7%…
By Maha El Dahan, Ahmad Ghaddar and Alex Lawler LONDON (Reuters) -OPEC+ agreed on Thursday to another modest monthly oil output increase, arguing that the producer group could not be blamed for disruptions to Russian supply and saying China’s coronavirus lockdowns threatened the outlook for demand. Ignoring calls from Western nations for accelerating output hikes,…
Elon Musk has strengthened the equity stake in his $44 billion offer to buy Twitter with commitments of more than $7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison. A regulatory filing Thursday also said that Musk is in talks with others for additional funding, including…
WASHINGTON (AP) — More Americans applied for unemployment benefits last week but the total number of people collecting jobless aid is at its lowest level in more than 50 years. Jobless claims in the U.S. rose by 19,000 to 200,000 for the week ending April 30, the Labor Department reported Thursday. First-time applications generally reflect…
Markets ripped higher in late trade on Wednesday. The move came in response to a question posted to Fed Chair Jerome Powell at his press conference- Would the Fed raise rates 75 basis points in its next meeting? Powell was direct in his response- “75 basis points is not something the committee is actively considering”….
FRANKFURT (Reuters) -The European Central Bank is preparing for a sequence of rate hikes that will put its benchmark rate in positive territory, but the path it takes is more important than the exact date of the first move, ECB chief economist Philip Lane said on Thursday. With inflation soaring to a record high 7.5%…
