DETROIT (AP) — Ford’s chief executive says he expects the cost of building electric vehicles to fall to the point that in coming years automakers will be battling each other for sales of EVs priced around $25,000. CEO Jim Farley told the Bernstein Strategic Decisions Conference on Wednesday that the $25,000 price tag will democratize…
By David Shepardson NEW YORK (Reuters) – New York officials on Wednesday celebrated the six-year $8 billion reconstruction of the city’s long-derided LaGuardia airport with a brand new Delta Air Lines terminal. Delta’s glittering 1.3 million-square foot $4 billion Terminal C will begin flights on Saturday at nine of the 37 new gates. Delta, the…
By Lindsay Dunsmuir (Reuters) – The economy in the majority of regions in the United States expanded at a modest or moderate growth pace from April through late May and there were signs that the Federal Reserve’s actions to cool demand were beginning to be felt, a Fed report showed on Wednesday. The latest temperature…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings fell in April, but remained at significantly high levels, suggesting that wages would continue to rise as companies scramble for workers, and contribute to inflation staying uncomfortably high for a while. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on…
By Elizabeth Dilts Marshall and Niket Nishant (Reuters) -Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase & Co described the challenges facing the U.S. economy akin to an “hurricane” down the road and urged the Federal Reserve to take forceful measures to avoid tipping the world’s biggest economy into a recession. Dimon’s comments come…
By Jarrett Renshaw (Reuters) -U.S. President Joe Biden will meet with major infant formula manufacturers on Wednesday as his administration presses ahead with efforts to boost imported supplies to help ease a nationwide shortage. The latest effort includes an announcement on Wednesday that United Airlines has agreed to transport U.K.-made Kendamil formula free of charge…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings fell in April, but remained at considerably high levels, suggesting that wages would continue to rise as companies scramble for workers, and contribute to inflation staying uncomfortably high for a while. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on…
ROME (Reuters) -Telecom Italia’s (TIM) top investor Vivendi would only back a sale of the Italian phone group’s fixed network if it adequately valued TIM’s main infrastructure asset, the CEO of the French group was quoted as saying. The comments comes after TIM on Sunday took the first step towards spinning off its landline grid…
By Tom Sims, Frank Siebelt and Paul Carrel FRANKFURT (Reuters) -The chief executive of top German asset manager DWS will step down next week, he said on Wednesday, a day after raids by prosecutors over allegations that the company misled investors about “green” investments. The raids and departure of DWS CEO Asoka Woehrmann mark another…
WASHINGTON (AP) — The white-hot demand for U.S. workers cooled a bit in April, though the number of unfilled jobs remains high and companies are still desperate to hire more people. Employers advertised 11.4 million jobs at the end of April, the Labor Department said Wednesday, down from nearly 11.9 million in March, the highest…
