By Ismail Shakil OTTAWA (Reuters) -Canada’s budgetary watchdog estimated on Wednesday that a deal offering Volkswagen production tax credits to build a battery gigafactory in the country will cost taxpayers about C$2.4 billion ($1.8 billion) more than announced. The forecast comes as the government tries to sweeten a subsidy deal for Jeep maker Stellantis, which…
By Ismail Shakil OTTAWA (Reuters) -Canada’s budgetary watchdog estimated on Wednesday that a deal offering Volkswagen production tax credits to build a battery gigafactory in the country will cost taxpayers about C$2.4 billion ($1.8 billion) more than announced. The forecast comes as the government tries to sweeten a subsidy deal for Jeep maker Stellantis, which…
By Mimosa Spencer PARIS (Reuters) – The final shape of LVMH’s likely Olympics sponsorship rests on Antoine Arnault, one of LVMH Chairman and CEO Bernard Arnault’s five children and heirs, in a high-profile deal that could test the 46-year old’s marketing prowess. All of Bernard Arnault’s five children hold important positions in LVMH, with each…
By Sheila Dang (Reuters) – Alphabet’s Google said on Wednesday it is launching two new artificial intelligence-powered features for advertisers that will automatically find the best ad placements for brands across the tech company’s services. AI has dominated the tech industry in recent months as Google and other companies have developed novel chatbots that can…
By Jessie Pang HONG KONG (Reuters) – Various versions of the pro-democracy protest anthem “Glory to Hong Kong” were unavailable on Apple’s iTunes Store, Spotify, KKBOX, Facebook and Instagram’s Reels on Wednesday after the government sought an injunction banning the song outright. A Reuters search for the song’s Chinese title on Apple’s iTunes Store and…
By Michel Rose (Reuters) – French President Emmanuel Macron said he will meet with Tesla CEO Elon Musk on Friday, the second time in just over a month, to promote France as a possible site for one of the electric vehicle (EV) maker’s factories as well as to discuss tech regulation. France has been courting…
By David Shepardson WASHINGTON (Reuters) – U.S. Senators Elizabeth Warren and Ron Wyden asked the Justice Department to open an antitrust investigation into the planned deal between the PGA Tour and Saudi-backed LIV Golf, saying they believe it would result in a monopoly over professional golf operations. The PGA Tour, DP World Tour and rival…
(Reuters) – Traders added to bets the Federal Reserve will soon be back to raising U.S. interest rates after skipping a hike in June, following the publication of U.S. central bank forecasts showing most policymakers believe they will need to tighten monetary policy further. Futures contracts tied to the Fed’s policy rate fell after the…
By Brendan O’Brien (Reuters) – The Southern Baptist Convention on Wednesday upheld its expulsion of two churches for having female pastors in a move that reaffirms the conservative leanings of the largest Protestant denomination in the United States. At the denomination’s annual meeting in New Orleans, an overwhelming majority of its 12,700 delegates voted to…
By Michael S. Derby WASHINGTON (Reuters) – U.S. Federal Reserve officials penciled in additional rate rises for this year and said they foresee inflation pressures continuing to ease over the next few years, in updated forecasts released on Wednesday. The projections, released quarterly, came as part of a Federal Open Market Committee meeting that saw…
