Headlines

TOKYO (Reuters) – Honda Motor Co and its Chinese joint venture partner Dongfeng Motor said on Thursday they would build a new factory in Wuhan to exclusively manufacture electric vehicles (EVs) from 2024. The factory would have a production capacity of 120,000 vehicles a year, Honda said in a statement. Honda, Japan’s second-largest automaker, is…

HONG KONG (Reuters) – UBS Group will split its 2,500 Hong Kong workforce into two groups with each returning to the workplace on alternate weeks, as the city tightens curbs amid a spike in COVID-19 cases, according to an internal memo to staff seen by Reuters. A spokesman for the bank confirmed the contents of…

TOKYO (Reuters) – Japan’s services sector activity expanded at a slower pace in December as growth in new and outstanding business softened and expectations for the 12 months ahead eased to a four-month low. The world’s third-largest economy is expected to rebound in the final quarter of last year after COVID-19 cases fell, as it…

By Nick Carey LONDON (Reuters) – The global semiconductor chip shortage will continue to hurt British car sales throughout this year and into 2023 after making a serious dent in vehicle supply in 2021, an industry group said on Thursday. The Society of Motor Manufacturers and Traders (SMMT) said around one in six new cars…

By Praveen Paramasivam (Reuters) -Royal Caribbean and Norwegian Cruise Line on Wednesday canceled sailings amid rising fears of Omicron-related coronavirus infections that have dampened the nascent recovery of the pandemic-ravaged cruise industry. Royal Caribbean Cruises Ltd called off its Spectrum of the Seas cruise for Jan. 6 after nine guests on its Jan. 2 trip…

(Reuters) – The demand for electric vehicles pushed U.S. automakers last year to unveil plans to spend billions of dollars to electrify gasoline models or introduce electric cars and trucks in a bid to catch up with market leader Tesla Inc. General Motors Co and Ford Motor Co are among those leading the chase. Last…

By Siddharth Cavale and Richa Naidu (Reuters) -Walmart Inc workers in the United States who must isolate or who have tested positive for COVID-19 will receive one week of paid leave instead of two under a new policy that aligns with a change in U.S. health guidance. A memo, seen by Reuters, sent on Tuesday…

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected. The S&P 500 fell more than 1%, its biggest daily…

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended down sharply on Wednesday after U.S. Federal Reserve meeting minutes signaled the central bank may have to raise interest rates sooner than expected. The S&P 500 and Nasdaq quickly extended their declines after the minutes which investors viewed as more hawkish than they had feared….

By Siddharth Cavale and Richa Naidu (Reuters) – Walmart Inc will now provide up to one week of paid time-off if a worker contracts COVID-19, instead of its earlier policy for up to two weeks, according to a memo seen by Reuters. The memo sent on Tuesday to U.S. hourly associates and long-haul drivers states…