By Timothy Gardner and Joseph White WASHINGTON/DETROIT (Reuters) -President Joe Biden’s administration on Wednesday said it intends to invest $2 billion from last year’s Inflation Reduction Act to accelerate domestic manufacturing of electric vehicles and resuscitate plants that are struggling. Speeding grants and other subsidies to fund conversion of existing auto plants to build electric…
BEIJING (Reuters) -About 90% of Boeing’s China 737 MAX jets have resumed commercial operation as of the end of June, the U.S. aircraft maker said on its official WeChat account on Wednesday. Some planes have been dispatched to regional international routes, Sherry Carbary, president of Boeing China, said in the article. The planemaker’s shares rose…
BRUSSELS (Reuters) -The U.S. branch of Belgian chemicals company Solvay has struck a nearly $393-million deal with the New Jersey Department of Environmental Protection (NJDEP) to settle some claims linked to drinking water pollution caused by one of its plants, Solvay announced on Wednesday. The funds will be used to test for, filter and clean…
By Leah Douglas (Reuters) – Food insecurity is rising in the U.S. as the end of pandemic-era aid and higher food costs strain low-income Americans, according to data released on Wednesday by the U.S. Census Bureau and two surveys from anti-hunger groups. About 26.5 million Americans reported sometimes or often not having enough to eat…
By Foo Yun Chee BRUSSELS (Reuters) – Advent-owned NielsenIQ is set to secure EU antitrust clearance for its proposed acquisition of German market research firm GfK on the condition GfK sells its consumer panel business, people familiar with the matter said. U.S. consumer market research company NielsenIQ, which is present in more than 90 markets…
WASHINGTON (Reuters) – The U.S. State Department has approved a possible $15 billion sale of an Integrated Air and Missile Defense (IAMD) Battle Command System (IBCS) and related equipment to Poland as it upgrades its air defenses, the Pentagon said on Wednesday. Despite State Department approval, the notification did not indicate that a contract had…
By Stephen Nellis MENLO PARK, California (Reuters) – Oracle on Wednesday said that it has modified its flagship database software to work on a new category of computing chip, starting with chips from Ampere Computing, a startup founded by former Intel executives. Oracle’s database software is used by major banks and corporations to track transactions….
By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) – Before Hollywood writers walked off the job in early May, Pam Elyea’s prop house History for Hire filled an average of 53 requests per week for everything from period-appropriate cameras and luggage to camping gear and snow globes. Weekly orders this year now average 26…
By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 3% on Wednesday as the second straight weekly draw from U.S. crude stockpiles was bigger than expected, offsetting worries that further interest rate hikes could slow economic growth and reduce global oil demand. Brent futures rose $1.77, or 2.5%, to settle at $74.03 a barrel….
By Balazs Koranyi SINTRA, Portugal (Reuters) – Euro zone inflation is so persistent that interest rate hikes beyond July may still be needed, Slovenian policymaker Bostjan Vasle said, joining a growing camp of policymakers making the case for even tighter policy. The ECB has raised rates by 4 percentage points in the past year, the…
