FRANKFURT (Reuters) – Volkswagen said on Thursday that it was in discussions with Tesla over its North American charging standard to optimize it for its customers. “Volkswagen Group and its brands are currently evaluating the implementation of the Tesla North American Charging Standard (NACS) for its North American customers,” Volkswagen said in an emailed statement….
WASHINGTON (Reuters) – Generative AI, which is best known for ChatGPT, raises competition concerns and is a focus of the Federal Trade Commission’s Bureau of Technology along with its Office of Technology, the agency said in a blog post by the staff of the two offices. “Generative AI depends on a set of necessary inputs….
By Marcela Ayres BRASILIA (Reuters) – Brazil’s central bank chief Roberto Campos Neto indicated on Thursday he supports adopting a continuous time frame for the monetary authority to pursue inflation targets, ditching the current system of tracking a calendar year. Speaking at a press conference in Brasilia, Campos Neto said that would be an “interesting…
(Reuters) – Swedish electric vehicle (EV) maker Polestar said on Thursday it has signed an agreement with Tesla to adopt the EV maker’s Supercharger network in the United States and Canada. Starting 2025, new Polestar vehicles sold in North America will be equipped with Tesla’s North American Charging Standard (NACS) charging port by default, the…
By Amruta Khandekar, Matteo Allievi, Bansari Mayur Kamdar (Reuters) -European shares edged higher on Thursday with Swedish retailer H&M rallying on stronger-than-expected quarterly profit, but economic data from both sides of the Atlantic and hawkish signals from major central bankers weighed on markets. The pan-European STOXX 600 index closed 0.1% higher. Shares of H&M climbed…
By Bianca Flowers (Reuters) – Carmaker Stellantis will require union employees to work mandatory overtime at its Warren Truck assembly and Jefferson North factory in Michigan, to boost Jeep SUV production ahead of a potential strike deadline in September, according to a document shared with Reuters. Stellantis told workers at both facilities the plants will…
FRANKFURT (Reuters) -Volkswagen’s Audi named the German group’s strategy chief as its new CEO on Thursday, as the luxury carmaker seeks to catch up with rivals in the dash towards electrification, including in China, the world’s top car market. Gernot Doellner, who replaces Markus Duesmann, will become CEO with effect from September, Audi said, after…
By Marie Mannes STOCKHOLM (Reuters) -Fashion retailer H&M’s shares jumped more than 17% on Thursday after its second-quarter profit beat estimates as cost-cutting measures started to bear fruit and its summer collection benefited from warmer weather in Europe. H&M, which has lagged Zara owner Inditex, has sought to raise its fashion appeal and boost its…
WASHINGTON (Reuters) – U.S. President Joe Biden’s chief economic adviser on Thursday expressed confidence that inflation would continue to improve in the second half of the year, and said it could drop to a range of 2% or slightly higher before the 2024 presidential election. National Economic Council Director Lael Brainard told an event hosted…
By Fergal Smith and Steve Scherer TORONTO (Reuters) – The Bank of Canada’s move to come off the sidelines after a five-month pause has sent a signal that some economic pain will be needed to tame stubborn inflation, leading investors to raise bets on a hard landing for the economy. The central bank is worried…
