SOUTHFIELD, Mich. (AP) — If the United Auto Workers union can’t organize workers at new electric-vehicle battery factories that will supply Detroit’s three automakers, the union’s future would be in serious doubt. Ray Curry, president of the 372,000-member UAW, says union representation at the battery plants is critical, given that the major automakers are staking…
By Anirban Sen NEW YORK (Reuters) – Deutsche Bank’s global investment banking coverage and advisory chief Drew Goldman will step down and be replaced by regional heads, according to a memo seen by Reuters on Monday. Goldman, who has held numerous leadership roles during his 22-year tenure at the German lender, wants to pursue opportunities…
MILAN (Reuters) – UniCredit plans to further simplify its corporate structure in a move that will see Stefano Vecchi, the head of its Italian private banking and wealth management unit, leave the bank, an internal memo seen by Reuters showed on Monday. The move comes just weeks after Chief Executive Andrea Orcel took direct responsibility…
By Pavel Polityuk and Max Hunder KYIV (Reuters) -Ukraine said on Monday it hoped a U.N.-brokered deal aimed at easing global food shortages by resuming grain exports from the Black Sea region would start being implemented this week. Senior government officials told a news conference in Kyiv that they hoped the first grain shipment under…
(Refiles to remove extraneous text from headline) By Toby Sterling and Hilary Russ AMSTERDAM/NEW YORK (Reuters) – When food delivery service Grubhub struck a deal with Amazon earlier this month, offering Prime customers a year’s free delivery, shares in rivals slumped. The deal, a lifeline for Grubhub that will increase pressure on its competitors, was…
TOKYO (Reuters) – Toyota Motor Corp will not unilaterally press its suppliers for lower prices for the second half of its fiscal year and is also considering supporting their energy bills, an executive said on Monday. The move reinforces an attempt by the world’s largest automaker by sales to shoulder more of the burden faced…
By Clare Jim HONG KONG (Reuters) – Henderson Land Development Co, one of Hong Kong’s four major developers, plans to lend more land to the government to build transitional homes and is keen to help accelerate development of an area close to the Chinese border. Martin Lee, co-chairman of Henderson – which has the largest…
By Daniel Leussink TOKYO (Reuters) – Japan’s government slashed its economic growth forecast for this fiscal year largely due to slowing overseas demand, highlighting the impact of Russia’s war in Ukraine, China’s strict COVID-19 lockdowns and a weakening global economy. The forecast, which serves as a basis for compiling the state budget and the government’s…
By Paul Sandle LONDON (Reuters) – Vodafone reported a drop in service revenue in its largest market Germany in the first quarter, reflecting broadband and TV losses after a new law ended automatic renewals and a new IT system underperformed. The mobile and broadband group said its German TV customer base fell by 79,000, resulting…
By Kevin Buckland TOKYO (Reuters) – Asian stocks lost ground on Monday, retreating from over three-week highs as worries about a global economic downturn sapped investors’ risk appetite. Bond yields eased amid bets that an expected U.S. recession would slow the Federal Reserve’s aggressive tightening campaign, with markets looking for policy clues from its two-day…
