By Paul Lienert (Reuters) – The world’s top automakers are planning to spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, along with the batteries and raw materials to support that production, according to a Reuters analysis of public data and projections released by those companies. The EV investment figure,…
By Leika Kihara TOKYO (Reuters) – The yen tumbled past the key psychological level of 150 to the dollar for the first time since 1990, defying Japanese policymakers’ repeated threats of intervention to address excessive currency market volatility. Below are details on how Japanese policymakers could respond: WHAT HAPPENED SINCE JAPAN’S LAST YEN-BUYING INTERVENTION? Japan…
(Reuters) -Twitter Inc on Thursday clarified to staff that there are no plans for company-wide layoffs since it signed a deal to be acquired by billionaire Elon Musk, after a media outlet reported that Musk is considering layoffs at the company. Twitter General Counsel Sean Edgett emailed employees on Thursday saying the company does not…
OMAHA, Neb. (AP) — The major freight railroads appear unwilling to give track maintenance workers much more than they received in the initial contract they rejected last week, increasing the chances of a strike. The railroads took the unusual step of issuing a statement late Wednesday rejecting the Brotherhood of Maintenance of Way Employes Division…
SAN FRANCISCO (AP) — Elon Musk plans to lay off most of Twitter’s workforce if and when he becomes owner of the social media company, according to a report Thursday by The Washington Post. Musk has told prospective investors in his Twitter purchase that he plans to cut nearly 75% of Twitter’s employee base of…
By Rae Wee SINGAPORE (Reuters) – Sterling edged lower on Friday as investors digested the news that British Prime Minister Liz Truss had quit after just six weeks in office, while the Japanese yen languished near a fresh 32-year low. The pound dipped 0.21% to $1.1215 in early Asian trade, after a brief rally to…
(Reuters) – Biden Administration officials are discussing whether the United States should subject some of Tesla Inc Chief Executive Officer Elon Musk’s ventures to national security reviews, a Bloomberg News reporter tweeted on Thursday, citing sources. The ventures include Musk’s deal to buy Twitter Inc and the Starlink satellite network, the reporter’s tweet added. (Reporting…
DALLAS (AP) — The three biggest U.S. airlines enjoyed a boffo summer, reaping a combined profit of more than $2 billion as Americans jammed on to planes despite fares that were sharply higher than a year ago. What pandemic? American Airlines said Thursday that it earned $483 million on record-breaking revenue that more than offset…
By Stephanie Kelly (Reuters) – Oil prices were near flat on Friday, as market participants weighed concerns about steep inflation with optimism that China could see energy demand tick up. Brent crude futures lost 5 cents to trade at $92.33 a barrel by 00:02 GMT. U.S. West Texas Intermediate futures rose 7 cents to trade…
By Howard Schneider WASHINGTON (Reuters) -The St. Louis Federal Reserve said it would “think differently” about appearances by its president James Bullard at non-public events after news reports of his attendance at a private policy forum last week sponsored by Citigroup. The New York Times first reported Bullard’s appearance at the event, which it noted…
