By David Shepardson and Nathan Gomes (Reuters) -Ford Motor said on Friday it would reduce production of its F-150 Lightning pickup truck, as demand for electric vehicles (EVs) has been lower than expected. The No. 2 U.S. automaker said it would cut production at its Michigan Rouge Electric Vehicle Center to one shift starting April…
(Reuters) -IRobot shares slumped more than 30% in early trading on Friday after reports that the European Union antitrust regulator was planning to block Amazon.com’s $1.4 billion buyout of the Roomba vacuum maker. Reuters reported, citing sources, that the agency was considering a veto on the deal, a move that could raise the bar for…
By Blake Brittain and Stephen Nellis WASHINGTON/SAN FRANCISCO (Reuters) -Apple said on Wednesday it would remove a blood oxygen monitoring feature from two flagship Apple Watch models in the U.S. as the iPhone maker fights a legal battle over patents on the technology behind the feature. The legal fight could take a year to resolve,…
By Nandita Bose, Richard Cowan and Jeff Mason WASHINGTON (Reuters) -Republican House Speaker Mike Johnson pressed President Joe Biden on Wednesday to recast U.S. immigration policy during a meeting with lawmakers at the White House about funding for Ukraine. Republicans in Congress have blocked emergency funding that Biden has requested for Ukraine and threaten to…
By Chibuike Oguh NEW YORK (Reuters) -Several large U.S. regional banks reported lower profits on Wednesday, in a further sign that the income boost from interest rate hikes by the Federal Reserve is starting to wane. Charles Schwab, Citizens Financial and US Bancorp said that, along with one-off charges, the rising cost of retaining customer…
By Farah Master HONG KONG (Reuters) -China’s population fell for a second consecutive year in 2023, as a record low birth rate and a wave of COVID-19 deaths when strict lockdowns ended accelerated a downturn that will have profound long-term effects on the economy’s growth potential. The National Bureau of Statistics said the total number…
By Aditya Soni, Akash Sriram and Hyunjoo Jin (Reuters) -Elon Musk’s warning about developing AI and robotics outside Tesla unless he gets more voting control could infringe on his duties as CEO and raise questions about the automaker’s valuation, governance experts and analysts said. The outspoken billionaire said on Monday he would be “uncomfortable” building…
By Jonathan Stempel and Luc Cohen NEW YORK (Reuters) – Fresh off a campaign victory in Iowa, Donald Trump sat in a New York courtroom on Tuesday to defend himself for a second time against charges that he defamed writer E. Jean Carroll after she accused him of raping her decades ago. Trump watched from…
By Joanna Plucinska, Valerie Insinna and David Shepardson WASHINGTON/LONDON (Reuters) -Boeing on Tuesday named a retired U.S. Navy admiral to advise the planemaker’s CEO on improving quality control after 737 MAX 9 planes were grounded following the in-flight cabin panel blowout on an Alaska Airlines jet. Kirkland H. Donald will serve as a special adviser…
By Manya Saini and Tatiana Bautzer (Reuters) -Morgan Stanley’s shares slid more than 4% after its fourth-quarter profit took a hit from $535 million in charges, though its revenue beat expectations as investment banking rebounded. Investors were disappointed by the bank’s lower-than-expected guidance for wealth management margins on Tuesday, which weighed on shares, said Barclays…
