SAN JOSE, Calif. (AP) — A federal judge rejected a bid for a new trial for disgraced Theranos CEO Elizabeth Holmes after concluding a key prosecution witness’s recent remorseful attempt to contact her wasn’t enough to award her another chance to avoid a potential prison sentence for defrauding investors at her blood-testing company. The ruling…
By Liz Hampton (Reuters) – Oil producer Diamondback Energy said the U.S. shale industry will struggle to continue to expand production at the current pace, with costs of new shale wells likely rising. The aging of oil and gas wells, supply chain bottlenecks and investor focus on shareholder returns have led to slowing U.S. oil…
BEIJING (Reuters) -A scaled-down version of China’s biggest air show opened on Tuesday, with some delegates unable to attend because of the country’s zero-COVID policy as virus case numbers there reached their highest level in six months. The organisers of Airshow China in the southern city of Zhuhai last week told attendees they must arrive…
By David Shepardson WASHINGTON (Reuters) -Tesla Inc is recalling just over 40,000 2017-2021 Model S and Model X vehicles that may experience a loss of power steering assist when driving on rough roads or after hitting a pothole. The Texas-based electric vehicle manufacturer has released an over-the-air software update to recalibrate the system after it…
PARIS (Reuters) – French carmaker Renault on Tuesday announced a big overhaul to split its operations into five businesses, deepen ties with China’s Geely and list its electric vehicle unit on the market from next year. Here are the main planks and financial targets unveiled in a strategy presentation to investors. FIVE BUSINESSES: Renault will…
ISTANBUL (Reuters) – Turkey has started paying for some its natural gas from Russia in roubles, Turkish Energy Minister Fatih Donmez said on Tuesday. In an interview with broadcaster TRT Haber, Donmez said that in the coming months the share of local currency payments in energy trade with Russia would increase. Russia, hit by Western…
By Norihiko Shirouzu and Gilles Guillaume BEIJING/PARIS (Reuters) -France’s Renault and China’s Geely announced a 50-50 joint venture on Tuesday for gasoline engines and hybrid technology, aiming to cut costs in what will become legacy businesses and free up resources for an electric vehicle future. The venture, which will aim to maximise sales by supplying…
LUXEMBOURG (Reuters) – Europe’s top court on Tuesday scrapped an EU order to Italian carmaker Fiat Chrysler to pay 30 million euros ($30 million) in back taxes to Luxembourg. “The Court of Justice that the General Court was wrong to confirm the reference framework used by the (European) Commission to apply the arm’s length principle…
TOKYO (AP) — Repayment of the more than 10 trillion yen ($68 billion) government funding for cleanup and compensation for the Fukushima Daiichi nuclear plant disaster has been delayed, the Japanese government says. The Board of Audit said in a report released Monday that the delay stems from technical difficulties and Tokyo Electric Power Co….
DUBAI, United Arab Emirates (AP) — Long-hauled carrier Emirates is buying five Boeing 777 freighters in a deal valued at more than $1.7 billion, further expanding its cargo flight capacity, the two companies announced Tuesday. Emirates previously announced a $1 billion investment to its cargo flights, including buying two new Boeing 777s and converting 10…
