TAIPEI, Taiwan (AP) — The company that assembles smartphones for Apple Inc. and other global brands unveiled an electric SUV on Tuesday that will be produced for a Taiwanese automaker under a similar contract model. Foxconn Technology Group said the SUV will be sold by Yulon Motor as the Luxgen n7 starting next year. It…
A group of major U.S. businesses wants the government to hide key import data — a move trade experts say would make it more difficult for Americans to link the products they buy to labor abuse overseas. The Commercial Customs Operations Advisory Committee is made up of executives from 20 companies, including Walmart, General Motors…
By Ludwig Burger (Reuters) -Roche’s quarterly sales declined 6% as a slump in COVID-19 treatments and diagnostic testing outweighed gains from haemophilia treatment Hemlibra and multiple sclerosis drug Ocrevus. Third-quarter revenue slipped to 14.74 billion Swiss francs ($14.84 billion), below market expectations of about 15.5 billion francs. “The third quarter of 2022 was particularly challenging…
By Joyce Lee SEOUL (Reuters) – The announcement by K-pop mega band BTS that members would serve mandatory military service in South Korea has removed a cloud of uncertainty that has hung over their plans. Investors in HYBE Co, BTS’ management group, responded to the news by driving its shares up as much as 7.8%…
The cost of living in Cairo has soared so much that security guard Mustafa Gamal had to send his wife and year-old daughter to live with his parents in a village 70 miles south of the Egyptian capital to save money. Gamal, 28, stayed behind, working two jobs, sharing an apartment with other young people…
NEW YORK (AP) — The nascent group that secured the first-ever union victory of an Amazon warehouse in the U.S. is set to face a crucial test on Tuesday, when votes from yet another election are set to be tallied. Representatives from the National Labor Relations Board will be counting ballots cast by workers at…
By Saeed Azhar and Lananh Nguyen NEW YORK (Reuters) – Goldman Sachs Group Inc is expected to announce a major reorganization of its business lines on Tuesday, combining its trading and investment-banking divisions while likely sidelining its loss-making consumer unit. Observers are questioning the rationale of the expected move, but say it could streamline the…
(Reuters) -BYD Co, China’s biggest electric car maker, said third-quarter net profit likely more than quadrupled due to robust sales and a better product mix, sending its shares surging. It estimated that net profit for the July-September quarter came in between 5.5 billion yuan to 5.9 billion yuan ($765 million-$820 million), or an increase of…
WASHINGTON (Reuters) – The Biden administration has spoken with energy companies as it considers a plan to use the Strategic Petroleum Reserve to both push down oil prices for consumers and support longer-term demand for producers, two sources familiar with the matter said. The discussions, which involve combining new releases from the stockpile and setting…
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Tuesday he had no intention of stepping down, when asked by an opposition lawmaker on whether he would take responsibility for failing to achieve his 2% inflation target and hurting the economy with a weak yen. Speaking in the same parliament session, Prime Minister…
