DETROIT (AP) — Ford says it has contracts to deliver enough batteries to produce electric vehicles at a rate of 600,000 globally per year by late in 2023. The company says Thursday that Contemporary Amperex Technology Co. of China will supply new lithium-iron phosphate batteries starting next year. The deal is in addition to a…
DALLAS (AP) — American Airlines earned $476 million in the second quarter on record revenue from summer travelers and said Thursday that it expects to remain profitable in the third quarter. It was American’s first quarterly profit without government pandemic aid in the COVID-19 era. While revenue from leisure travelers is soaring, so are costs,…
By Huw Jones LONDON (Reuters) – Stock markets and the euro held their ground on Thursday with investor nerves steadied by the resumption of Russian gas supplies to Europe as they waited for what is expected to be the European Central Bank’s first interest rate hike in 11 years. The flow of Russian gas resumed…
MADRID (AP) — Europe’s recent spate of wildfires abated amid cooler temperatures Thursday, with no outbreaks reported in Portugal while French firefighters started to get the upper hand over two major blazes and Spain tamed a fire that killed two people last weekend. Spanish firefighters were tackling nine blazes, with two said to be especially…
FRANKFURT, Germany (AP) — The European Central Bank raised interest rates Thursday for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the U.S. Federal Reserve and other major central banks to target stubbornly high inflation. The move raises new questions about whether the rush to make credit more…
A look at the day ahead in markets from Tommy Wilkes. If the European Central Bank’s inflation headache wasn’t bad enough, its first interest rate rise since 2011 will land on the day the government of its third-largest member state, Italy, fell apart. [nL8N2Z22RC]. Mario Draghi resigned as prime minister on Thursday after his coalition partners…
LONDON (AP) — The two candidates to become Britain’s next prime minister began a head-to-head battle on Thursday for the votes of Conservative Party members who will choose the country’s new leader. Former Treasury chief Rishi Sunak is promising fiscal prudence, while Foreign Secretary Liz Truss is offering immediate tax cuts to the right-of-center governing…
BRUSSELS (AP) — The European Union imposed more sanctions on Russia over the war in Ukraine on Thursday after the bloc’s 27 members backed measures that include a ban on gold imports and tighter export controls on some high-technology goods. European Commission Ursula von der Leyen said the “reinforced, prolonged EU sanctions against the Kremlin”…
MADRID (Reuters) – The expected price of new shares to be issued by Spanish renewable energy company Opdenergy is 4.75 euros, at the bottom of the indicated range, the bookrunner said on Thursday. The final price will be set on Thursday, with the company expected to start trading on the Madrid stock market on Friday…
By Supantha Mukherjee STOCKHOLM (Reuters) – Finnish telecom equipment maker Nokia reported on Thursday quarterly operating profit ahead of market expectations, boosted by strong demand for 5G gear, and sees signs of a global chip shortage easing. Nokia’s shares rose 4% in early trade. A semiconductor shortage that began around the height of the pandemic…
