WASHINGTON (Reuters) -U.S. President Joe Biden on Monday called for union auto workers and Detroit’s Big Three automakers to come together on a new agreement before their contracts expire next month. “I’m asking all sides to work together to forge a fair agreement,” Biden said in a statement as talks continued between the United Auto…
By Mrinmay Dey (Reuters) -Nikola said on Friday it was recalling all the battery-powered electric trucks that it has delivered till date and is suspending sales after an investigation into recent fires found a coolant leak inside a battery pack as the cause. There are a total of 209 battery-powered electric trucks in the marketplace…
By Navya Mittal (Reuters) -Australia’s Federal Court on Monday ordered Dell Technologies Inc’s local unit to pay A$10 million ($6.46 million) in penalties for making misleading representations on its website about discounts for add-on computer monitors. In a legal action brought by the country’s competition regulator, Dell Australia was found guilty by the Federal Court…
(Reuters) -A coming regulatory proposal will overhaul how large regional banks prepare living wills in the event of their failure, U.S. Federal Deposit Insurance Corporation Chairman Martin Gruenberg said on Monday. U.S. regulators are seeking to strengthen oversight of the banking system, particularly in light of a string of collapses in March that included three…
BEIJING (Reuters) -Tesla on Monday said it has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, sending its shares lower on concern of further pressure on its profit margins. This marks the first time since January that Tesla has reduced its vehicle prices in China, although the…
By Jonathan Saul LONDON (Reuters) – Merchant ships remained backed up in lanes around the Black Sea on Monday as ports struggled to clear backlogs amid growing unease among insurers and shipping companies a day after a Russian warship fired warning shots at a cargo vessel. Russia said its Vasily Bykov patrol ship on Sunday…
By Michael Erman NEW YORK (Reuters) -COVID infections and hospitalizations are on the rise in the U.S., Europe and Asia. Health officials are pointing at the EG.5 “Eris” coronavirus, a subvariant of the Omicron lineage that originally emerged November of 2021. WHAT IS THE NEW ‘ERIS’ VARIANT? The World Health Organization (WHO) classified EG.5, which…
(Reuters) – The total insured loss from the ongoing wildfires on Maui island is expected to be the second largest in Hawaii’s history, according to catastrophe modeling firm Karen Clark & Company (KCC). The fast-moving inferno, which started earlier this week, ravaged the historic resort town of Lahaina that was once the capital of the…
By Erwin Seba HOUSTON (Reuters) -Oil prices finished down on Monday on worries about China’s faltering economic recovery and a stronger dollar were taking the momentum out of seven weeks of gains on tight supply. U.S. West Texas Intermediate crude settled down 68 cents, or 0.82%, at $82.51 a barrel. Brent crude futures finished at…
By Luc Cohen (Reuters) – Sam Bankman-Fried, the indicted founder of bankrupt cryptocurrency exchange FTX, needs access to medications to treat depression and attention deficit hyperactive disorder (ADHD) while jailed ahead of his fraud trial, his lawyers said on Monday. In a letter, Bankman-Fried’s lawyers asked U.S. District Judge Lewis Kaplan to order the Metropolitan…
