(Reuters) -Spotify Technology SA said on Monday it plans to cut 6% of its workforce and would take a related charge of up to nearly $50 million, adding to the massive layoffs in the technology sector in preparation for a possible recession. The tech industry is facing a demand downturn after two years of pandemic-powered…
(Reuters) – Newell Brands Inc said on Monday it will cut about 13% of its office positions, in a bid to save costs amid stubbornly high inflation that has pressured consumer spending. The sharpie maker joins a growing list of companies in corporate America – from Wall Street Banks and tech companies such as Spotify…
(Reuters) -U.S. industrial software firm Emerson Electric Co said on Monday it would not nominate candidates for election to the board of testing and measurement equipment maker NI Corp and kept its buyout offer price unchanged. Emerson last week disclosed a hostile $53-per-share offer for NI, which it has been trying to buy unsuccessfully for…
WASHINGTON (Reuters) – U.S. auto safety regulators on Monday closed a six-year-old investigation into 1.47 million Ford Explorer SUVs over reports of exhaust odors in vehicle compartments and exposure to carbon monoxide without seeking a recall. The National Highway Traffic Safety Administration (NHTSA)said it had conducted an in-depth investigation that included review of over 6,500…
By Leah Douglas WASHINGTON (Reuters) – Once the stuff of science fiction, lab-grown meat could become reality in some restaurants in the United States as early as this year. Executives at cultivated meat companies are optimistic that meat grown in massive steel vats could be on the menu within months after one company won the…
By Elizabeth Howcroft LONDON (Reuters) – European stock indexes rose slightly in early trading on Monday, supported by hopes that inflation could be past its peak, as markets softened their expectations for future Federal Reserve rate hikes. Liquidity was thin overnight as markets in China, Hong Kong, Singapore, Malaysia, South Korea and Taiwan were closed…
MILAN (Reuters) – Shares in Juventus tumbled some 10% on Monday after Italian soccer authorities docked the club 15 points for its transfer dealings, in a blow to its reputation and short-term sporting prospects. Juventus, who have won the Italian league more times than any other club, are now 9th in the Serie A standings…
By Jan Schwartz HAMBURG (Reuters) – Volkswagen’s energy and charging division is keeping all options open for the long-term structure of the business, including a possible listing, the division’s chief Elke Temme said in an interview with Reuters. The division, like all the carmaker’s unlisted brands and its battery business PowerCo, is going through the…
TOKYO (Reuters) – Japanese automaker Honda Motor Co Ltd and battery maker GS Yuasa Corp on Monday said they will collaborate in the high-capacity, high-output lithium-ion battery business, and plan to establish a joint venture by the end of this year. The partners said they will join in the research and development of lithium-ion batteries…
By Nick Carey COVENTRY, England (Reuters) – China’s Geely is planning a big investment to turn the maker of London’s iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles, executives at the unit told Reuters. London Electric Vehicle Company (LEVC) also aims to expand its suite of services,…
