BEIJING (Reuters) – China’s factory activity likely expanded in June for the first time in four months, driven by a faster recovery in production and an easing of supply chain snags as manufacturing hubs emerged from lockdowns, a Reuters poll showed on Wednesday. The official manufacturing Purchasing Manager’s Index (PMI) is expected to rise to…
By Heekyong Yang SEOUL (Reuters) – South Korean battery maker LG Energy Solution Ltd (LGES), a major supplier to U.S. carmakers including Tesla, is reassessing a $1.3 billion investment plan for a Arizona factory citing “unprecedented” economic conditions. News that South Korea’s biggest battery maker is reviewing the plan, unveiled only three months ago, knocked…
BEIJING (AP) — With no one at the wheel, a self-driving taxi developed by tech giant Baidu Inc. is rolling down a Beijing street when its sensors spot the corner of a delivery cart jutting into its lane. The taxi stops a half-car-length away. “So sorry,” a recorded voice tells passengers. The steering wheel turns…
LOS ANGELES (Reuters) – Talks to reach a new contract with union workers at West Coast shipping ports before the existing deal expires this week are going well with no major sticking points, U.S. Labor Secretary Martin Walsh told Reuters on Tuesday. The current contract covering more than 22,000 port laborers at 29 West Coast…
By Jonathan Stempel (Reuters) – A federal judge in Washington, D.C. on Tuesday dismissed a lawsuit by eight citizens of Mali who sought to hold Hershey Co, Nestle SA, Cargill Inc and others liable for child slavery on Ivory Coast cocoa farms. U.S. District Judge Dabney Friedrich said the plaintiffs in the proposed class action…
By Chen Aizhu SINGAPORE (Reuters) -PetroChina may sell out from natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa and central Asia, two people with knowledge of the matter said. PetroChina’s plan follows a similar strategic shift by smaller…
(Reuters) – U.S. oil major Exxon Mobil Corp and Canadian partner Imperial Oil Ltd said on Tuesday they will sell their Montney and Duvernay assets in Canada to Whitecap Resources Inc for C$1.9 billion ($1.48 billion). ($1 = 1.2872 Canadian dollars) (Reporting by Shariq Khan; Editing by Shounak Dasgupta)
WASHINGTON (Reuters) – The U.S. Federal Trade Commission said on Tuesday that it had sued Walmart, alleging the company had allowed scam artists to use its money transfer services for fraud that cost consumers “hundreds of millions of dollars.” (Reporting by Diane Bartz; Editing by Chris Reese)
(Reuters) – Amazon.com Inc has placed a temporary purchase limit of three units per week on emergency contraceptive pills, the company said on Tuesday. The move comes days after the U.S. Supreme Court overturned the landmark 1973 Roe v. Wade ruling that recognized women’s constitutional right to abortion. Women with unwanted pregnancies in the country…
By Stephen Culp NEW YORK (Reuters) – Wall Street slid on Tuesday with early gains reversing to a broad sell-off on the heels of dire consumer confidence data, which dampened investor optimism and stoked recession fears. All three major U.S. stock indexes were sharply lower, with the tech-laden Nasdaq declining the most. Amazon.com, Microsoft Corp…
