By Karen Freifeld, Andrea Shalal and David Shepardson NEW YORK/WASHINGTON (Reuters) -President Joe Biden on Wednesday signed an executive order that will prohibit some new U.S. investment in China in sensitive technologies like computer chips and require government notification in other tech sectors. The long-awaited order authorizes the U.S. Treasury secretary to prohibit or restrict…
TOKYO/SEOUL (Reuters) -Flights were cancelled and trains halted on Wednesday as heavy rain from Typhoon Khanun pounded southern regions of Japan and South Korea, just as another storm approached from the east to threaten Tokyo ahead of Japan’s peak summer holiday season. Khanun could make landfall at the southeastern South Korean port city of Tongyeong…
By Marco Garcia KAHULUI, Hawaii (Reuters) -At least 36 people have died after wildfires, fanned by winds from a faraway hurricane, devastated much of the resort city Lahaina on Hawaii’s Maui island, the Maui County said in a statement late on Wednesday. Multiple neighborhoods were burnt to the ground as the western side of the…
By Nandita Bose BELEN, New Mexico (Reuters) -U.S. President Joe Biden took his economic pitch to New Mexico on Wednesday to boast how his signature legislation helped turn a previously shuttered facility into a wind tower manufacturing facility. Biden, a Democrat who is running for reelection, said the Arcosa plant is the latest piece of…
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp on Thursday flagged a new cost-cutting programme to raise its performance and improve returns for shareholders, and said it now expects to hit the upper end of its profit outlook following solid third-quarter results. The company has been making strides in its turnaround in the…
BEIJING (Reuters) – Two lithium mine auctions in China’s southwestern Sichuan province that began this week have received nearly 7,000 bids, with prices hundreds of times higher than starting levels and rising as of Thursday, a provincial government body said. An auction for a five-year exploration right to the Jiada Lithium Mine in Maerkang city…
By John Revill ZURICH (Reuters) -Siemens missed profit forecasts in its latest quarter, the German engineering company reported on Thursday, noting weakening demand in several markets including China. The trains-to-factory-automation manufacturer said China, long a driver for global manufacturing and its third largest market, had seen only a tepid recovery after its zero-COVID shutdown last…
(Reuters) – Canadian Tire Corp on Thursday reported a drop in quarterly revenue, as demand for sporting goods and home improvement items slowed at its retail stores. Higher costs of food and gas, despite a drop in the annual inflation rate in Canada, have led to tepid customer-spend on higher-priced discretionary items such as sportswear…
FRANKFURT (Reuters) – German insurer Allianz on Thursday was optimistic on its outlook for the full year after reporting a better-than-expected 18% rise in second-quarter net profit. The company, one of Europe’s largest financial services groups, pointed to strength at its property and casualty division, helped by lower claims from natural disasters. Allianz stuck to…
(Drops reference to tax authorities in paragraph 1) (Reuters) -British gambling firm Entain said on Thursday it had set aside 585 million pounds ($744.5 million) for a potential settlement with British authorities in relation to an investigation into potential bribery offences at its former Turkish business. The investigation by the UK’s tax authority, HMRC, included…
