(Reuters) – Lordstown Motors Corp on Monday posted a bigger loss for the fourth quarter, as the electric-vehicle maker struggled with production costs and missed its delivery target for the Endurance pickup truck in the period. In September, when its commercial production commenced, Lordstown had said it aimed to deliver 50 vehicles in 2022 and…
(Reuters) – Shares of cryptocurrency-related companies fell in premarket trading on Monday after Silvergate Capital Corp pulled the plug on its crypto payments network, following its doubts about keeping its business viable. The digital assets-focused bank said late on Friday that effective immediately it had made a “risk-based decision” to discontinue the Silvergate Exchange Network…
By Dominique Vidalon PARIS (Reuters) -French Finance Minister Bruno Le Maire has reached a deal with the country’s main supermarket chains to help shoppers cope with food price inflation, he said on Monday. Food retailers have agreed to offer shoppers “the lowest possible prices” for a three-month period on a selection of items left to…
By Ariba Shahid and Asif Shahzad KARACHI, Pakistan (Reuters) -Pakistan will be required to give an assurance that its balance of payments deficit is fully financed for the remaining period of an International Monetary Fund (IMF) programme, the lender’s resident representative said. The external financing is one of the last in a string of prior…
By Mohi Narayan and Sudarshan Varadhan (Reuters) – Oil prices slipped on Monday after China set a lower-than-expected target for economic growth this year at around 5%, and as investors cautiously awaited U.S. Federal Reserve Chair Jerome Powell’s testimony this week. Brent crude futures were trading down 53 cents, or 0.6%, at $85.30 a barrel…
ZURICH (Reuters) -The Swiss National Bank reported on Monday an annual loss of 132.5 billion Swiss francs ($141.54 billion), in line with the provisional calculations it announced in January. The loss, the biggest in the central bank’s 115-year history, was caused by a plunge in the value of the SNB’s investments caused by bond and…
By Sabrina Valle and Marianna Parraga HOUSTON (Reuters) – Guyana’s coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras and Chevron, to consider the decade’s hottest oil region, people close to the matter said. The South American country is offering 14 offshore blocks, a move to speed economic…
(Reuters) -Tesla Inc has cut prices on its two most expensive electric vehicles in the United States, according to the company’s website, days after Chief Executive Elon Musk said recent price cuts on other models had stoked demand. The price cuts, Tesla’s fifth adjustment since the start of the year, ranged from 4% on the…
(Reuters) -Tesla Inc has cut prices of its Model S and Model X vehicles in the United States, its website showed, days after chief executive Elon Musk said recent price cuts of other models had stoked demand. Prices of Tesla’s Model S cars were cut by $5,000. The basic version of Model S would now…
By Sarah Wu and Ben Klayman TAIPEI/DETROIT (Reuters) – Foxconn wants to do for electric vehicles (EVs) what it has done with the iPhone, but first, it needs to find the next Apple – and fast. The Taiwanese contract manufacturer faces competition in the market for creating white-label EVs that can be tailor-made for clients,…
