By Kanishka Singh WASHINGTON (Reuters) – The United States “firmly” opposes export controls announced by China on gallium and germanium, metals needed to produce semiconductors and other electronics, a U.S. Commerce Department spokesperson said on Wednesday, adding that Washington will consult its partners and allies to address the issue. Earlier this week, China put export controls…
By Kylie Madry MEXICO CITY (Reuters) -Mexican airline Viva Aerobus has signed a memorandum of understanding to purchase 90 Airbus A321neo aircraft, the carrier said on Wednesday, in a deal likely worth several billion dollars. The announcement confirms Reuters reporting last month that the two were close to a tie-up on an order of that…
By Aishwarya Nair (Reuters) – U.S. union workers are finding more solid footing during contract negotiations with employers as a tight labor market allows employees to flex more bargaining power. Airline pilots, railroad employees, dockworkers, and others have pushed for higher pay and better benefits, rebuffing offers from companies that in some contracts appeared significant….
By Valerie Volcovici WASHINGTON (Reuters) -The Biden administration on Wednesday approved construction of an offshore windfarm that will generate 1,100 megawatts of power from up to 98 turbines off the coast of Atlantic City, New Jersey, becoming the third such project in the United States. Approval of Orsted’s Ocean Wind by the Interior Department is…
DUBAI (Reuters) – Foreign direct investment (FDI) flows into the United Arab Emirates rose 10% in 2022 from the previous year to a record $23 billion, the United Nations trade body said in a report on Wednesday. Globally, FDI fell 12% in the year, the United Nations Conference on Trade and Development (UNCTAD) report said…
By Pratyush Thakur and Shivansh Tiwary (Reuters) -New vehicle sales in the United States for top global automakers rose in the second quarter on improving supply and strong demand, signaling that rising interest rates have not yet had a meaningful impact on purchases. Vehicle production took a hit after the pandemic disrupted supply of semiconductor…
(Reuters) – Hydrogen firm ThyssenKrupp Nucera has priced its initial public offering at 20 euros ($21.72) per share, implying a market capitalisation of around 2.5 billion euros, the company said in a statement on Wednesday. The company and its shareholders, Germany’s ThyssenKrupp and Italy’s De Nora, expect to raise up to 605 million euros through…
By Daina Beth Solomon and Dave Graham MEXICO CITY (Reuters) -German carmaker Audi is this month scheduled to announce plans to begin producing electric vehicles in Mexico, according to three people with knowledge of the matter, joining other major carmakers in ramping up EV output in Mexico. Asked to comment, a spokesman in Germany said…
(Reuters) – Canada’s financial watchdog on Wednesday released new guidelines for lenders aimed at protecting mortgage holders facing high borrowing costs or who are at the risk of defaulting. The Financial Consumer Agency of Canada (FCAC) said federally regulated financial institutions, including banks, must work to help at-risk consumers by “providing tailored support” that could…
BERLIN (Reuters) -Germany’s cabinet approved the first draft of its 2024 budget and financial plans through 2027, the finance ministry said on Wednesday, as Europe’s biggest economic power curbs spending that surged in response to COVID-19 and the Ukraine war. “Today we have adopted a budget proposal aligned with fiscal realities,” Finance Minister Christian Lindner…
