(Reuters) – Spirit AeroSystems Inc said it will meet with the U.S. machinists union on Saturday to continue negotiations for a new contract, after workers rejected a proposed four-year deal and announced a strike. Shares of Spirit were up 4.8% in afternoon trade on Friday. The company, a crucial supplier for aerospace heavyweights Boeing and…
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for an eighth week in a row for the first time since July 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday. The oil and gas rig count, an early indicator of…
By Andrew Chung (Reuters) -A federal law that makes it a crime for a person to encourage illegal immigration does not violate constitutional free speech protections, the U.S. Supreme Court ruled on Friday in upholding the decades-old measure defended by President Joe Biden’s administration. The 7-2 ruling, authored by conservative Justice Amy Coney Barrett, overturned…
By David Shepardson WASHINGTON (Reuters) -Two U.S. senators wrote seven major automakers on Friday urging them not to remove AM radio from new vehicles. Senator Ted Cruz, the top Republican on the Senate Commerce Committee, and Democrat Ed Markey, who also sits on the panel, wrote to BMW, Volkswagen, Tesla, Mazda, Polestar, Rivian and Volvo…
FRANKFURT (Reuters) – Germany’s Commerzbank said on Friday that it would book another provision of 342 million euros ($372.27 million) following a court ruling on how banks treat Swiss franc loans in Poland. The new figure means that Commerzbank, which has extensive operations in Poland through its mBank, has provisioned or made payouts of more…
By Trevor Hunnicutt WASHINGTON (Reuters) – U.S. President Joe Biden will deliver what his aides are billing as a major economic policy speech on Wednesday, laying down a key marker for his re-election campaign. Plans for a speech in Chicago on “Bidenomics,” which have not previously been reported and were seen in a White House…
(Corrects story and headline to say makers pledge $11.3 billion, not $14.3 billion for lithium iron phosphate plants) By Paul Lienert (Reuters) – Interest and investment in lithium iron phosphate (LFP) battery cells and materials, used to power electric vehicles, continue to climb in the United States. LFP is a lower-cost competitor to nickel cobalt…
(This June 22 story has been corrected to say makers pledged more than $11 billion, not $14 billion, in paragraph 3) By Paul Lienert DETROIT (Reuters) – As the auto industry scrambles to produce more affordable electric vehicles, whose most expensive components are the batteries, lithium iron phosphate is gaining traction as the EV battery…
By David Shepardson WASHINGTON (Reuters) -United Auto Workers (UAW) union President Shawn Fain on Friday harshly criticized the U.S. Energy Department plan to lend $9.2 billion to a joint venture of Ford Motor and South Korea’s SK On to build three U.S. battery plants. Fain called the loan a massive “giveaway” with “no consideration for…
CAIRO (Reuters) – Sudan’s two-month long war is extending across the country with the army and Rapid Support Forces (RSF) clashing in several areas on Friday. Air strikes and anti-aircraft missile fire hit overnight in the Omdurman and Khartoum, two of the three cities that make up Sudan’s wider capital. But the war has in…
