SEOUL (Reuters) – South Korean battery maker LG Energy Solution (LGES) plans to build a battery joint venture with Honda Motor Co in the United States, South Korea’s Maeil Business Newspaper said on Friday, citing an unnamed industry source. The potential battery JV between LGES and Honda could cost as much as 4 trillion won…
By Kirstin Ridley LONDON (Reuters) – Social media giant Facebook, now known as Meta Platforms, faces a 2.3 billion pound plus ($3.2 billion plus) class action in Britain over allegations it abused its market dominance by exploiting the personal data of 44 million users. Liza Lovdahl Gormsen, a senior adviser to Britain’s Financial Conduct Authority…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla Inc aims to start initial production of its much-anticipated Cybertruck by the end of the first quarter of 2023, pushing back its plan to begin production late this year, a person familiar with the matter told Reuters on Thursday. The person said the delay comes as Tesla…
By Steve Scherer and David Shepardson OTTAWA/WASHINGTON (Reuters) -Unvaccinated Canadian truckers re-entering Canada from the United States must get tested for COVID-19 and quarantine themselves starting Jan. 15, the Canadian government said on Thursday, a day after the Canadian border agency dropped the rule. Some 10% to 20%, or between 12,000-22,000 Canadian truck drivers, and…
By Ann Saphir (Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday said that with high inflation that’s not abating and a labor market on a tear by nearly all measures, raising interest rates in March makes sense. “I don’t want to put a stake in the ground and say, definitely March,”…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Thursday urged domestic investors to snap up the consumer banking arm of Citigroup in his country after it went on sale this week. “We can turn it into something very good, if, without authoritarian measures, it’s possible to Mexicanize this bank,” Lopez Obrador said…
By Lewis Krauskopf NEW YORK (Reuters) – Shares of U.S. energy companies are soaring in the early days of 2022, driven by a shift to so-called value stocks and assets that stand to benefit from the steepest inflation in nearly four decades. The energy sector is up over 14% this year, against a 0.8% drop…
By Laura Sanicola (Reuters) – Microsoft is investing $50 million in a LanzaJet facility in Georgia that will produce jet fuel from ethanol next year, LanzaJet said. The airline industry is considered one of the hardest to decarbonize. Renewable aviation fuel accounted for less than 0.1% of current global jet fuel demand of about 330…
By Rajesh Kumar Singh CHICAGO (Reuters) – Delta Air Lines Inc on Thursday reported higher quarterly earnings on the back of strong holiday travel demand and predicted a swift recovery from turbulence caused by the Omicron coronavirus variant, driving its shares higher. The company said surging COVID-19 cases will likely result in losses in January…
By Lindsay Dunsmuir and Ann Saphir (Reuters) – As continued high inflation eats further into Americans’ pocketbooks, Federal Reserve Governor Lael Brainard on Thursday became the latest, and most senior, U.S. central banker to signal that the Fed is getting ready to start raising interest rates in March. “The committee has projected several hikes over…
