By Ernest Scheyder (Reuters) -Lithium producer Albemarle Corp cut its annual profit forecast on Wednesday despite posting a better-than-expected quarterly earnings, citing softening prices for the metal used to make electric vehicle batteries. Shares of the Charlotte, North Carolina-based company fell 4.5% to $165.19 in after-hours trading. Concern has grown across the lithium industry this…
WASHINGTON (Reuters) – The Federal Trade Commission’s chief said the agency was committed to using existing laws to rein in some of the dangers of artificial intelligence, such as enhancing the power of dominant firms and “turbocharging” fraud. “Although these (AI) tools are novel, they are not exempt from existing rules, and the FTC will…
By Valerie Insinna and Abhijith Ganapavaram WASHINGTON (Reuters) -Spirit AeroSystems Holdings Inc on Wednesday took a hefty $110 million loss in reach-forward charges on Airbus and Boeing jet production and expects a further hit of $31 million to full-year gross profit from disruptions related to a Boeing 737 MAX fuselage production problem. The company announced…
(Reuters) – PacWest Bancorp has been weighing a range of strategic options, including a sale, Bloomberg News reported on Wednesday, citing people familiar with the matter. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Arun Koyyur)
(Reuters) – British investment management firm Baillie Gifford will invest $180 million in electric aircraft maker Joby Aviation, they said on Wednesday. This comes days after Joby clinched a $55 million contract extension to deliver up to nine air taxis to the U.S. Air Force, marking the company’s first revenue-generating operations. Unlike other electric vertical…
(Reuters) – British investment management firm Baillie Gifford will invest $180 million in electric aircraft maker Joby Aviation, they said on Wednesday. This comes days after Joby clinched a $55 million contract extension to deliver up to nine air taxis to the U.S. Air Force, marking the company’s first revenue-generating operations. Unlike other electric vertical…
(Reuters) – Myanmar’s military government on Wednesday pardoned more than 2,000 prisoners, state media reported, among them a journalist and what activists and media said were numerous political detainees. State television MRTV said 2,153 prisoners convicted of incitement were pardoned to mark a Buddhist holiday and warned they would be arrested and given additional sentences…
By Sarah N. Lynch WASHINGTON (Reuters) – A group of 24 U.S. civil rights and criminal justice groups and advocates on Wednesday launched a coalition aimed at reforming sentencing so people convicted at trial do not face heftier punishments than those who plead guilty to the same crime. The activists are seeking to end what…
(Reuters) -MetLife Inc reported a drop in first-quarter profit on Wednesday, as growing economic uncertainty hurt the insurer’s adjusted premiums, fees and other revenues. Adjusted premiums, fees and other revenues fell 8% due to declines in the United States, Asia and EMEA regions, while that excluding pension risk transfers (PRT) rose 3%. Net investment income…
By Anne Kauranen HELSINKI (Reuters) – Finland’s largest daily Helsingin Sanomat on Wednesday took its struggle against Russian media restrictions to a popular online videogame to mark world press freedom day. Editor-in-chief Antero Mukka said the paper had to get creative in trying to breach the restrictions and decided to hide articles about Russia’s war…
