By Paul Lienert and Nick Carey DETROIT/BICESTER, England (Reuters) – British electric van startup Arrival, which has hit many road bumps in its quest to become the next Tesla Inc, now hopes huge subsidies from the U.S. Inflation Reduction Act and a second reverse merger will give it a fresh shot at survival. Since it…
(Reuters) – Swedish telecoms company Ericsson beat a lawsuit by U.S. shareholders on Wednesday, when a federal judge ruled it did not mislead investors about its compliance with U.S. anti-bribery laws. The lawsuit filed by a Boston-based pension fund claimed that Ericsson had overstated the extent to which it had eliminated the use of bribes…
By Ebru Tuncay, Orhan Coskun and Nevzat Devranoglu ANKARA (Reuters) -Days before Turkey’s runoff presidential election, there is disagreement and uncertainty within Tayyip Erdogan’s government over whether to stick with what some call an unsustainable economic programme or to abandon it, insiders say. According to interviews with nine sources, either government officials or others with…
A look at the day ahead in European and global markets from Sonali Desai. The U.S. debt ceiling saga continues to hang over global markets, with the White House and Republicans both citing progress in the latest round of talks but no breakthrough yet. Ratings agency Fitch opted not to wait, placing the country’s “AAA”…
JAKARTA (Reuters) – The world’s two biggest palm oil producers Indonesia and Malaysia will send top officials to the European Union next week to voice concern over a new deforestation law they believe could be detrimental to small farming businesses. Indonesia and Malaysia accounts for about 85% of global palm oil exports and the EU…
By Hyonhee Shin SEOUL (Reuters) – Hundreds of thousands of South Korean artillery rounds are on their way to Ukraine via the United States, after Seoul’s initial resistance toward arming Ukraine, the Wall Street Journal reported on Wednesday. The Journal, citing unnamed sources, said Seoul had reached a “confidential arrangement” with Washington to transfer the…
TOKYO (Reuters) – Automakers, including Toyota and Volkswagen, should decarbonise their steel supply and cut back on the material’s consumption by reducing the size of vehicle models, Greenpeace said on Thursday. As a transition to battery-powered cars brings down the amount of greenhouse gases that are released during the usage of a vehicle, a growing…
(Reuters) – President Volodymyr Zelenskiy renewed his appeal on Wednesday for U.S.-built F-16 fighter jets, saying their appearance with Ukrainian pilots would be a sure signal from the world that Russia’s invasion would end in defeat. “The main thing is the speed in training and in supply – meaning the time between decisions in real…
By Lawrence White LONDON (Reuters) -HSBC is reviewing a possible exit from as many as a dozen countries, or one in five of the markets it operates in, to sharpen its focus on Asian expansion, Chief Financial Officer Georges Elhedery told Reuters in his first interview since taking the role. The reviews follow pressure from…
By Mike Davidson (Reuters) -Tina Turner, the American-born singer who left a hardscrabble farming community and abusive relationship to become one of the top recording artists of all time, died on Wednesday at the age of 83. She died peacefully after a long illness in her home in Küsnacht near Zurich, Switzerland, her representative said….
