By David Shepardson and Aishwarya Nair (Reuters) -Ford Motor Co on Monday cut prices of its electric crossover SUV Mustang Mach-E by as much as $5,900 per vehicle, weeks after rival Tesla Inc slashed prices globally on its electric vehicles by as much as 20%. Shares of Ford closed down 2.9% in above average trading…
By Karen Freifeld, Alexandra Alper and Stephen Nellis (Reuters) -The Biden administration has stopped approving licenses for U.S. companies to export most items to China’s Huawei, according to three people familiar with the matter. Huawei has faced U.S. export restrictions around items for 5G and other technologies for several years, but officials in the U.S….
By David Shepardson WASHINGTON (Reuters) -TikTok Chief Executive Shou Zi Chew will appear before the U.S. Energy and Commerce Committee in March, as lawmakers scrutinize the Chinese-owned video-sharing app. Chew will testify before the committee on March 23, which will be his first appearance before a congressional committee, said Representative Cathy McMorris Rodgers, the Republican…
By Stephen Culp (Reuters) – A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Wall Street’s downbeat start to an action-packed week has set a bumpy course for Asian markets on Tuesday. U.S. stocks appeared to take a breather near the end of a month of solid gains,…
(Reuters) -United Airlines Holdings Inc technicians ratified a two-year contract with the carrier that includes 16% to 23% wage increases, their union said on Monday. International Brotherhood of Teamsters, representing around 8,200 United Airlines technicians said the two-year contract would provide for improved job security by adding five heavy maintenance lines in-house. The agreement, which…
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks retreated on Monday after six sessions of gains while U.S. Treasury yields rose ahead of central bank policy announcements and data that may shed light on whether progress has been made in bringing down inflation. Investors widely expect the Federal Reserve will raise…
By Dietrich Knauth (Reuters) – A court-ordered examiner is expected to release a report on Monday addressing whether bankrupt crypto firm Celsius Network operated as a Ponzi scheme, which could add to the pressure on founder Alex Mashinsky, who is already facing fraud allegations. U.S. Bankruptcy Judge Martin Glenn, who is overseeing the crypto lending…
By Chris Thomas and Aditya Kalra NEW DELHI (Reuters) – Most Adani Group shares fell sharply on Monday as the Indian conglomerate’s rebuttal of a U.S. short-seller’s criticism failed to pacify investors, deepening a market rout that has now led to losses of $65 billion in the group’s stock values. Led by Asia’s richest man…
(Reuters) – An appeals court in the United States on Monday dismissed a bankruptcy petition by Johnson & Johnson’s talc unit. (Reporting by Leroy Leo in Bengaluru; Editing by Krishna Chandra Eluri)
By Gilles Guillaume PARIS (Reuters) – Renault and Nissan hailed a new deal announced on Monday as a major step in reviving their two decade alliance. But for the French car group the benefits of the revamp are for now unclear and potentially quite limited, three industry sources said. The deal, months in the making…
