(Reuters) -Quebecor said on Wednesday it will pull its ads from Facebook and Instagram, following Meta Platforms’ decision to stop access to news on the platforms in Canada over a law requiring payments to local news publishers. The “Online News Act”, or House of Commons bill C-18, introduced in April last year laid out rules…
By Amruta Khandekar and Shreyashi Sanyal (Reuters) -Eurozone blue-chip stocks fell on Wednesday as tech shares were pressured ahead of U.S. Federal Reserve’s minutes from the June policy meeting, while weak data from the single-currency bloc and China stoked fears of a sharp hit to global growth. The EURO STOXX 50 index closed 0.9% lower,…
By Anirban Sen and Abigail Summerville NEW YORK (Reuters) -Family-owned food giant Mars Inc on Wednesday agreed to buy Kevin’s Natural Foods, which is known for its sous-vide meals, sauces, and side dishes, the companies said. The deal values private equity-backed Kevin’s at nearly $800 million, according to people familiar with the matter. Kevin’s started…
(Reuters) – Utility firm Duke Energy said on Wednesday it would sell its commercial distributed generation business to private equity firm ArcLight Capital Partners in a $364 million deal. The business includes operating assets of REC Solar, which Duke had acquired in 2015, development pipeline and operations and maintenance portfolio, as well as distributed fuel…
By Nick Carey LONDON (Reuters) -A lack of data on electric vehicle (EV) batteries continues to challenge insurers who are forced to scrap EVs after mild accidents, potentially undermining EV adoption, Thatcham Research said on Wednesday. The British automotive risk intelligence company cited a “concerning lack of affordable or available repair solutions and post-accident diagnostics”…
MILAN (Reuters) -The head of carmaker Stellantis said Beijing’s decision to restrict exports of two metals widely used in semiconductors and electric vehicles should not push Western companies to reduce their exposure to China. China on Monday announced controls from Aug. 1 on its exports of some gallium and germanium products prompting fears of new…
By Bianca Flowers BELVIDERE, Illinois (Reuters) – A shuttered Illinois Jeep assembly plant will be at the center of a power struggle between the United Auto Workers union and Detroit’s automakers as the manufacturers double down on cutting costs to fund an accelerated transition to electric vehicles. When the Stellantis factory in the northern Illinois…
(Reuters) – General Motors on Wednesday reported a 19% rise in second-quarter U.S. auto sales as easing supply chain pressures allowed the automaker to ship more cars and trucks to dealers. GM said second-quarter sales jumped to 691,978 vehicles from 582,401 vehicles a year earlier. (Reporting by Pratyush Thakur in Bengaluru; Editing by Shounak Dasgupta)
MILAN (Reuters) – Stellantis on Wednesday unveiled its new ‘STLA Medium’ vehicle platform, the first of four new electric-centric bases that will underpin all future models made by the world’s fourth largest carmaker by sales. Stellantis, formed at the beginning of 2021 through the merger of Fiat Chrysler and Peugeot maker PSA, sold around 6…
(Reuters) – Chinese auto brands are on track to account for just over 50% of the cars sold in their home market this year thanks to a growing dominance in electric vehicles, consultancy AlixPartners said on Wednesday. It would represent the first time Chinese automakers have controlled a majority share of China’s car market –…
