By Ismail Shakil OTTAWA (Reuters) -Canada’s budgetary watchdog estimated on Wednesday that a deal offering Volkswagen production tax credits to build a battery gigafactory in the country will cost taxpayers about C$2.4 billion ($1.8 billion) more than announced. The forecast comes as the government tries to sweeten a subsidy deal for Jeep maker Stellantis, which…
(Reuters) – The Consumer Financial Protection Bureau, the top U.S. agency supervising the retail financial services sector, is due to propose in October a long-awaited rule on consumers’ control of their banking data, its director said Wednesday. The rule, called for under 2010’s sweeping Wall Street reform law, is likely to prove crucial to governing…
By David Shepardson WASHINGTON (Reuters) – A bipartisan group of six senators and two members of the House of Representatives on Wednesday introduced legislation to protect Americans’ data from being used by U.S. adversaries. The bill is the latest in a series of proposals aimed at addressing concerns about the data of Americans using foreign-owned…
BERLIN (Reuters) -Volkswagen’s passenger car brand will implement savings and cost-cutting measures amounting to 10 billion euros ($10.83 billion) by 2026 to hit a return on sales target of 6.5%, a spokesperson said on Wednesday. Chief Financial Officer Arno Antlitz posted on LinkedIn earlier on Wednesday that the company would improve production efficiency across the…
By Foo Yun Chee BRUSSELS (Reuters) -Alphabet’s Google may have to sell part of its lucrative adtech business to address concerns about anti-competitive practices, EU regulators said on Wednesday, threatening the company with its harshest regulatory penalty to date. The European Commission set out its charges in a statement of objections to Google two years…
By Fabian Cambero SANTIAGO (Reuters) -The CEO of Chile’s state-owned mining giant Codelco is stepping down after only a year in the role, citing person reasons and “complexities” in running the world’s largest copper producer. Andre Sougarret, a respected engineer who gained prominence leading the rescue of 33 miners trapped at the San Jose mine…
By Amanda Cooper LONDON (Reuters) -The dollar hovered around multi-week lows against the euro and sterling on Wednesday, after unexpectedly soft U.S. inflation data cemented the view that the Federal Reserve will not raise interest rates later in the day. China’s yuan sagged to its weakest in over six months after the central bank cut…
By Martin Coulter and Hakan Ersen (Reuters) -Hundreds of social media moderators in Germany – who remove harmful content from platforms such as Facebook and TikTok – are calling on lawmakers to improve their working conditions, citing tough targets and mental health issues. Cengiz Haksöz, who has worked as a content moderator at outsourcer TELUS…
By Ahmad Ghaddar LONDON(Reuters) – Oil prices rose on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s June meeting after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC. Brent crude futures were up 76 cents, or 1%, at $75.05 a barrel by 0916 GMT. U.S. West Texas…
By Amanda Cooper LONDON (Reuters) – The dollar hovered around multi-week lows against the euro and sterling on Wednesday, after unexpectedly soft U.S. inflation data cemented the view that the Federal Reserve will not raise interest rates later in the day. China’s yuan sagged to a 6-1/2-month trough after the central bank cut rates, and…
