(Reuters) – Electric-vehicle company Lordstown Motors Corp said on Tuesday production and deliveries of its Endurance electric pick-up truck resumed this month after a pause in February to address quality issues. EV startups have been struggling with dwindling cash balances and production challenges as access to capital tightens amid rising U.S. interest rates to tame…
By Gwladys Fouche and Victoria Klesty OSLO (Reuters) – Norway’s $1.4 trillion sovereign wealth fund on Tuesday welcomed a government request that it consider investing in unlisted equities and said it will make a recommendation by December. The Norwegian Finance Ministry said last month it had asked the fund, the world’s largest single stock market…
By Anirban Sen NEW YORK (Reuters) – Mark Gerstein, a veteran dealmaker who stepped down from law firm Latham & Watkins in December, has joined PJT Partners Inc, the investment bank led by Paul Taubman, as a senior adviser. Gerstein, who spent 27 years at Latham & Watkins and served as the firm’s global co-chair…
By Maggie Fick BARCELONA (Reuters) – AstraZeneca is confident that its new version of COVID-19 antibody treatment could protect immunocompromised patients against all known virus variants, its vaccines head said. Laboratory studies show the antibody, called AZD3152, neutralizes all known variants of COVID-19 and AstraZeneca has support from regulators to make the treatment available by…
BERLIN/SHANGHAI (Reuters) – Volkswagen is investing around 1 billion euros ($1.10 billion) in a new development and procurement centre for electric vehicles in Hefei, China, the company said on Tuesday, in a bid to better adapt its cars to Chinese customers’ tastes. The aim of the centre, dubbed “100%TechCo”, will be to reduce development times…
By Robert Muller PRAGUE (Reuters) – The Czech government needs to dig deeper than it plans to shore up the state budget which has fallen to record deficits, and must act fast as the next election approaches, a senior budget watchdog official told Reuters. The centre-right government of Prime Minister Petr Fiala plans to cut…
By David Milliken LONDON (Reuters) -British wages rose faster than anticipated last month, in a move that economists judge may tip the Bank of England towards a further rise in interest rates next month, despite an unexpected increase in joblessness too. The Office for National Statistics (ONS) said the unemployment rate edged up to 3.8%…
HONG KONG (Reuters) – Top shareholder of HSBC renewed its call for breaking up of the Asia-focused bank on Tuesday, saying the lender has failed to address key business model challenges which has resulted in deterioration in its operating performance. Ping An Asset Management Company (Ping An AMC) said in a statement HSBC has “drained”…
ROME (Reuters) – British American Tobacco and Amazon are under investigation in Italy over what regulators say is potentially misleading advertising for the Glo Hyper X2 tobacco heater, the Italian Competition Authority said on Tuesday. “It is not made clear, or it is inadequately stated” in the advertising that Glo Hyper X2 is a nicotine-based…
By Kevin Yao and Joe Cash BEIJING (Reuters) – China’s economy grew at a faster-than-expected pace in the first quarter, as the end of strict COVID curbs lifted businesses and consumers out of crippling pandemic disruptions, although headwinds from a global slowdown point to a bumpy ride ahead. More than a year-long sweeping streak of…
