By Nick Carey LONDON (Reuters) – A consortium including Hydrogen truck startup HVS and supermarket chain Asda said on Wednesday it had been awarded a 6.6 million pound ($8.1 million) UK government grant to develop autonomous hydrogen heavy goods vehicles. The project is one of seven backed by Britain’s Centre for Connected and Autonomous Vehicles…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korean chipmaker SK Hynix Inc said the industry downturn will worsen in the first half of 2023, as it turned in a record quarterly operating loss on Wednesday. SK Hynix, however, said market conditions would gradually improve later in the year as chipmakers reduce supply in…
By David Shepardson WASHINGTON (Reuters) -U.S. air passengers would be offered refunds for delayed flights and transportation on rival carriers under sweeping consumer protections proposed on Tuesday after a series of disruptions including a holiday meltdown at Southwest Airlines. U.S. lawmakers said the wide-ranging measures would require airlines to pay at least $1,350 to passengers…
By Stephen Culp (Reuters) – A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve’s restrictive monetary policy is working as…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. labor costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed, giving the Federal Reserve a boost in its fight against inflation. There was more encouraging news on inflation, with other data on Tuesday showing house price growth slowing considerably in…
(Reuters) -PayPal Holdings Inc said on Tuesday it is planning to cut 7% of its workforce, or about 2,000 employees, the latest in a string of fintech firms to be hit by the economic slowdown. “While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities,…
By Daniel Wiessner (Reuters) – Amazon.com Inc illegally threatened to withhold raises and benefits from workers at two New York City warehouses if they voted to unionize, a judge with the National Labor Relations Board (NLRB) has ruled. In a decision issued on Monday, Administrative Law Judge Benjamin Green said Amazon supervisors told workers that…
By Lisa Baertlein and Shivansh Tiwary (Reuters) -United Parcel Service Inc on Tuesday said it would shelter 2023 profits from expected revenue declines as decades-high inflation, rising interest rates and recession fears weigh on the bellwether global transportation industry. The world’s biggest parcel delivery firm beat Wall Street’s profit forecast for the fourth quarter after…
By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own…
By Johann M Cherian and Shreyashi Sanyal (Reuters) – Wall Street rose on Tuesday as wage growth data indicated that the Federal Reserve’s aggressive approach to taming inflation was taking hold ahead of a decision by the central bank, while gains on the Dow were limited by weak earnings updates. U.S. labor costs increased at…
