By Alexandra Alper WASHINGTON (Reuters) -U.S. investment in foreign chip companies is a potential concern for the Biden administration, a White House official said on Wednesday, but he stressed it has not yet made a final decision on a potential mechanism regulating U.S. investments in China. National Security Council official Peter Harrell heralded the administration’s…
Car buyers might not get the vehicle they want on time, commuter rail lines could see service disrupted, and shipments from everything from oil to livestock feed could be snarled. Those are just a few of the wide-ranging impacts a walkout by U.S. rail workers would have on the country’s industries and economy. A strike…
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stock markets stumbled for a second straight day on Wednesday as a reading on inflation did little to alter expectations the U.S. Federal Reserve will stay aggressive in fighting inflation, while the yen jumped as Japan indicated it could move to prop up the…
By David Shepardson and Jeff Mason DETROIT (Reuters) – President Joe Biden took a victory lap on Wednesday at the Detroit auto show, highlighting automakers’ increasing shift to electric vehicles and billions of dollars in new investments in battery plants. The trip to the Detroit auto show, the largest such event in North America, is…
(Corrects description of product to be made in new plant; corrects name of parent company to Bosch Group from Bosch Ltd) MEXICO CITY (Reuters) -Technology supplier Bosch Group on Wednesday announced plans to construct a 4.3 billion peso ($215 million) plant in the central Mexican state of Queretaro. Its subsidiary Bosch Rexroth will produce components…
Commuters, food producers, refineries and others could all be affected if there is a nationwide rail strike at the end of this week. Members of one union rejected a tentative agreement that their leaders had negotiated with the biggest freight railroads, and three other unions were still at the bargaining table on Wednesday. Two other…
By Andy Bruce LONDON (Reuters) – There is trouble ahead for Britain’s new finance minister Kwasi Kwarteng: a marked shift in how British assets are behaving in markets points to growing unease about the economy’s vulnerabilities. Investors around the world have typically capitalised on weakness in the pound in the past to snap up British…
OMAHA, Neb. (AP) — Members of one union rejected a tentative deal with the largest U.S. freight railroads Wednesday, while two ratified agreements and three others remained at the bargaining table just days ahead of a strike deadline, threatening to intensify snarls in the nation’s supply chain that have contributed to rising prices. About 4,900…
By Jonathan Stempel (Reuters) – Wells Fargo & Co has reached a $94 million settlement to resolve class-action claims it sent more than 200,000 struggling mortgage borrowers into forbearance during the COVID-19 pandemic without their consent. The proposed settlement was filed last week in the federal court in Columbus, Ohio, and requires a judge’s approval….
By Joseph White DETROIT (Reuters) – Detroit’s automakers say they are ready to go all-electric, but at the Motor City’s auto show this week they are adding a caveat: not just yet. Ford Motor Co on Wednesday will unveil the seventh-generation of its Mustang sports car in downtown Detroit, underscoring the challenges Motor City automakers…
