MEXICO CITY (Reuters) – A global semiconductor shortage that has weighed on Mexico’s auto sector should normalize throughout the year and chip supply should reach prepandemic levels in the second half of 2022, the Mexican Automotive Industry Association (AMIA) said on Tuesday. “We expect the shortage of semiconductors to stabilize throughout the year and towards…
By Joseph White DETROIT (Reuters) – General Motors Co plans to increase production of electric trucks and Cadillac sport utility vehicles this year by more than six times the previously planned output, according to information shared with suppliers. GM Chief Executive Mary Barra told investors last week the automaker intended to accelerate production of electric…
FRANKFURT, Germany (AP) — U.S. President Joe Biden has threatened to block the Nord Stream 2 natural gas pipeline if Russia invades Ukraine. The undersea pipeline directly links Russian gas to Europe via Germany and is complete but not yet operating. It has become a major target as Western governments try to deter a Russian…
A handful of Americans donated at least $1 billion to charity last year, according to the Chronicle of Philanthropy’s annual ranking of the 50 Americans who gave the most to charity in 2021. Bill Gates and Melinda French Gates topped the list, pledging $15 billion to the Bill & Melinda Gates Foundation, a huge player in…
By Subrat Patnaik and Aishwarya Nair (Reuters) -Peloton Interactive Inc will replace its chief executive and cut about 2,800 jobs, the company said on Tuesday, as the exercise bike maker looks to revitalize sagging sales and win back investor confidence. John Foley, the company’s co-founder who has led the company for nearly a decade, will…
(Reuters) – Johnson & Johnson late last year quietly shut down the only plant making usable batches of its COVID-19 vaccine, the New York Times reported, citing people familiar with the decision. The halt is temporary, with the Leiden plant expected to start making the vaccine again after a few months, the NYT report said…
WASHINGTON (AP) — The U.S. trade deficit soared to a record $859.1 billion last year as Americans splurged on foreign-made electronics, toys and clothing during the economy’s unexpectedly robust recovery from a short but nasty 2020 pandemic-fueled recession. The trade gap — the difference between what the United States sells and what it buys from…
By Leroy Leo (Reuters) – Amgen Inc said on Tuesday it would buy back up to $6 billion of its shares in the first quarter and forecast earnings to more than double by 2030 on the back of strong sales in its biosimilar drugs and other key products. Shares of the biotechnology company rose 5.5%…
By Ron Bousso LONDON (Reuters) – BP’s profits hit their highest in eight years in 2021, lifted by soaring gas and oil prices, as the company boosted share repurchases and accelerated plans to cut emissions with increased spending on low carbon energy. BP’s rebound to an annual profit of $12.85 billion after a large loss…
VIENNA (AP) — Diplomats from Iran and world powers reconvened in Vienna on Tuesday to seek a deal reviving Tehran’s 2015 nuclear accord, with pressure mounting for results soon. Negotiators from Iran and the remaining parties to the agreement — Britain, France, Germany, Russia and China — got back to work after a break of…
