SHANGHAI (Reuters) – Premium electric vehicle (EV) maker Polestar, founded by Volvo and Zhejiang Geely Holding Group, said on Tuesday it expects production of its Polestar 4 to begin later this year in Hangzhou Bay. Speaking at the Shanghai auto show, Chief Executive Officer Thomas Ingenlath also said pre-orders for the Polestar 4 would be…
LONDON (Reuters) -Glencore executives have met or spoken with some 120 Teck Resources shareholders during a short visit to Toronto to try to win support for the company’s takeover bid rather than an internal overhaul, a source familiar with the situation said. Glencore made its $22.5 billion all-share offer as Teck’s own plan to spin…
SANTIAGO (Reuters) – Aurubis AG, Europe’s largest copper smelter and producer, no longer buys the red metal from Russia after it let supply contracts lapse, its CEO told Reuters on Monday. Russia’s invasion of Ukraine last year fueled a range of boycotts, sanctions and other measures against copper and other metals from the country. Aurubis,…
By Blake Brittain (Reuters) – Grunge music pioneers Soundgarden and Vicky Cornell, the widow of lead singer Chris Cornell, have settled a legal dispute over the late singer’s unreleased recordings, according to a joint post from their Instagram accounts on Monday. They said the “amicable” settlement marked a new partnership between Soundgarden and Cornell’s estate…
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks was slightly higher on Monday as investors digested another round of corporate earnings, while the dollar and U.S. Treasuries yields rose after economic data further cemented expectations of a rate hike from the Federal Reserve in May. After the first wave of bank…
By Huw Jones LONDON (Reuters) – Stock exchanges and asset managers have squared off ahead of European Union negotiations this week over how much information investors should be given to find the best deals on Europe’s fragmented stock markets. The European Parliament and EU states begin negotiations on Tuesday on finalising reform of the bloc’s…
UNITED NATIONS (Reuters) -The United States and more than 40 other countries said in a joint statement on Monday that they were deeply concerned over Russia’s detainment of a Wall Street Journal reporter and protested Moscow’s “efforts to limit and intimidate the media.” They also said in the statement, read to reporters at the United…
By Andrew Osborn MOSCOW (Reuters) -Kremlin critic Vladimir Kara-Murza was jailed for 25 years by a Moscow court on Monday, the harshest sentence of its kind since Russia invaded Ukraine, after being convicted of treason and other offences in a trial he said was politically-motivated. Kara-Murza, 41, a father of three and an opposition politician…
By Herbert Lash and Harry Robertson NEW YORK/LONDON (Reuters) – The dollar rose on Monday after New York state factory activity in April increased for the first time in five months, helping bolster expectations the Federal Reserve will raise interest rates in May. Also bolstering the dollar was a report showing confidence among U.S. single-family…
By David Shepardson (Reuters) – The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo Cars electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing. The Treasury said the new requirements effective on Tuesday will also cut by half credits for the Tesla Inc…
