By Victoria Waldersee, Jan Schwartz and Tom Sims BERLIN (Reuters) – Volkswagen’s CEO Herbert Diess is stepping down and will be succeeded by Porsche boss Oliver Blume, Europe’s top carmaker said on Friday, after a four-year tenure in which Diess pushed VW’s electric vehicles ambitions and clashed with its work council and board. Sources with…
VIENNA (AP) — Herbert Diess, the Volkswagen CEO whose image had been tarnished in the fallout from the German automaker’s emissions-cheating scandal, is stepping down. In a surprise announcement Friday, the Wolfsburg, Germany-based company said Diess will depart Sept. 1 “by mutual consent” with the board. No reason was given for his departure. Oliver Blume,…
By Arathy Somasekhar HOUSTON (Reuters) -Brent crude prices edged slightly higher in choppy trading on Friday after Russia said it will not supply crude to countries that decide to impose a price cap on its oil. Brent crude futures climbed 56 cents, or 0.5%, to $104.42 a barrel by 1:12 p.m. ET (1712 GMT), while…
By Tim Hepher and David Shepardson FARNBOROUGH, England (Reuters) – Aerospace has turned the page on an unprecedented pandemic demand shock with dozens new orders at its largest air show in three years – only to face mounting worries over supply chains and reminders that its future hinges on decarbonisation. From rural Farnborough to nearby…
In some corners of the personal finance advice world, getting into debt is just about the worst thing you can do. And yes, some forms of debt — particularly those that charge high interest rates — can keep you locked in a cycle of owing money for years. Still, there are times where taking on…
(Reuters) – Former Amazon.com Inc executive Jay Carney will join Airbnb as policy and communications head, the holiday rental hosting firm said on Friday. Carney, who worked at Amazon for seven years, will start at Airbnb in September and report to co-founder and CEO Brian Chesky. He will be based in Washington. At Amazon, Carney…
MOSCOW (AP) — The Russian central bank diverged from its Western counterparts by slashing its key interest rate Friday just a month after dropping it to where it was before the country sent troops into Ukraine. The bank lowered its key rate by 1.5 percentage points, to 8%, saying consumer prices are still easing partly…
DETROIT (AP) — Clogged oil ports, electrical shorts and leaks of brake fluid are only some of the safety problems that have caused multiple fires and forced Hyundai and Kia to recall millions of vehicles in the past seven years. Now, Hyundai, the larger of the two affiliated Korean automakers, has promoted its North American…
By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) – The global economy looks increasingly likely to be heading into a serious slowdown, just as central banks aggressively reverse ultra-loose monetary policy adopted during the pandemic to support growth, data showed on Friday. In the euro zone, business activity contracted this month for the first time…
By Joshua Schneyer, Mica Rosenberg and Kristina Cooke LUVERNE, Alabama (Reuters) – A subsidiary of Hyundai Motor Co has used child labor at a plant that supplies parts for the Korean carmaker’s assembly line in nearby Montgomery, Alabama, according to area police, the family of three underage workers, and eight former and current employees of…
