SHANGHAI (Reuters) -A senior Volkswagen AG China executive reiterated on Saturday the German automaker’s commitment to quickening the pace of electrification in the world’s second largest economy despite issues such as intensified competition and weak demand. VW plans to increase the number of charging posts in China for electric vehicles to 17,000 by 2025, as…
SHANGHAI (Reuters) – Stefan Mecha, chief executive of Volkswagen’s passenger car brand in China, on Saturday urged China to extend a purchase tax exemption on new energy vehicles (NEV) beyond this year. Volkswagen plans to increase the number of charging posts in China for electric vehicles to 17,000 by 2025 as it increases investments in…
By Jonathan Stempel NEW YORK (Reuters) – Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin. In an evening filing in Manhattan federal court, lawyers for Musk and his electric car company Tesla Inc called the…
By David Shepardson and David Lawder WASHINGTON (Reuters) -The U.S. Treasury Department unveiled stricter electric vehicle tax rules on Friday that will reduce or remove tax credits on some zero-emission models but grant buyers another two weeks before the new requirements take effect. The rules are aimed at weaning the United States off dependence on…
(Reuters) – Deposits at all U.S. commercial banks fell in the week ended March 22 to their lowest since August, but at a slower rate than the week before, and stabilized at small lenders seen as more vulnerable to outflows after the failure of Silicon Valley Bank. Data released on Friday by the Federal Reserve…
By Dietrich Knauth (Reuters) – A group of Boy Scouts’ insurers on Friday asked a judge to delay the youth group’s exit from bankruptcy to allow them more time to appeal a record-setting $2.46 billion settlement of sexual abuse claims. More than a dozen insurers, including Liberty Mutual Insurance Company, have said the Boy Scouts’…
By Jorge Otaola and Rodrigo Campos BUENOS AIRES (Reuters) -The International Monetary Fund (IMF) approved Argentina’s fourth review under its $44 billion loan program on Friday, unlocking the disbursement of $5.4 billion to the indebted country, the lender said in a short statement. The IMF made no mention of Argentina’s request for easing reserve targets…
WASHINGTON (Reuters) – General Motors Co said Friday it expects some electric vehicles will qualify for $7,500 U.S. tax credits after stricter Treasury Department guidance takes effect April 18. “We expect a number of our Ultium-based EVs, including the Cadillac LYRIQ and additional EVs launching this year like the Chevrolet Equinox EV SUV and Blazer…
By Daniel Wiessner (Reuters) – Activision Blizzard Inc violated U.S. labor law by illegally surveilling employees during a walkout and threatening to shut down internal chat channels as a union sought to organize its workers, a federal labor agency said on Friday. A National Labor Relations Board spokeswoman said that unless Activision settles, the agency…
(Reuters) – Twitter on Friday made public parts of the computer code that decides how the social media site recommends content, allowing users and programmers a peak into its workings and the ability to suggest modifications to the algorithm. The company said it uploaded the code in two repositories on code-sharing platform Github. They include…
