WASHINGTON (Reuters) – U.S. consumer confidence increased in June to the highest level in nearly 1-1/2 years, but fears of a recession lingered, according to a survey on Tuesday. The Conference Board said its consumer confidence index rose to 109.7 this month, the highest reading since January 2022, from 102.5 in May. Economists polled by…
By Aishwarya Nair (Reuters) – Ford Motor Co said on Tuesday it will begin layoffs this week, impacting mostly engineering jobs in the U.S. and Canada, as part of the Detroit automaker’s move to exit unprofitable locations and cut headcount. The development comes after the company said in May it expects to take up restructuring…
By Mike Spector, Joseph White and Dietrich Knauth NEW YORK (Reuters) – U.S. electric truck manufacturer Lordstown Motors filed for bankruptcy protection on Tuesday and put itself up for sale after failing to resolve a dispute over a promised investment from Taiwan’s Foxconn. Shares of Lordstown tumbled 35% in trading on the Nasdaq. The company’s…
By Alan Charlish WARSAW (Reuters) – Ryanair expects passenger numbers in central and eastern Europe (CEE) to surge by at least 50% over the next decade, the airline’s manager for the region said, as it looks to dominate in a less-developed market also targeted by Wizz Air. Europe’s biggest low-cost carrier has ordered as many…
TOKYO (Reuters) – What would society look like if cyborg body parts were freely available for use like roadside rental bicycles? Masahiko Inami’s team at the University of Tokyo have sought to find out by creating wearable robotic arms. Inami’s team is developing a series of technologies rooted in the idea of “jizai”, an Japanese…
By Ahmad Ghaddar LONDON (Reuters) -Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman earlier this month outlined one of the biggest reforms at OPEC in recent years and presented it as a reward for countries that invest in their oil industry. The change clears the way for giving larger production quotas to OPEC Gulf members…
By Manya Saini (Reuters) -Credit card giant American Express Co said on Tuesday Chief Financial Officer Jeffrey Campbell has decided to retire, and Deputy CFO Christophe Le Caillec would succeed him. Campbell will step down from his role effective Aug. 14. He joined American Express as CFO in 2013, and will remain with the company…
By Marcela Ayres BRASILIA (Reuters) -Brazil’s central bank signaled on Tuesday that a majority of its policymakers see a possibility of a “parsimonious” rate cut at its next meeting in August, provided that a more benign inflation scenario consolidates. The minutes of the June 20-21 meeting, where the rate-setting committee known as Copom kept the…
(Reuters) – Manchester United on Tuesday raised its forecasts for annual revenue and adjusted profit, betting on strong commercial and matchday income as the English football club returns to the UEFA Champions League. Manchester United, which is currently in talks to sell itself, said it was expecting revenue of between 630 million pounds ($801.6 million)…
By Saeed Azhar and Lananh Nguyen NEW YORK (Reuters) -Bank of America Corp is adding consumer branches in four new U.S. states, it said on Tuesday, bringing its national footprint closer to rival JPMorgan Chase & Co. Bank of America will open new financial centers in Nebraska, Wisconsin, Alabama and Louisiana as part of a…
