BEIJING (Reuters) -Volkswagen is in talks with Chinese electric vehicle startup Zhejiang Leapmotor Technology about the possibility of cooperation for Volkswagen’s Jetta brand, a Chinese media outlet reported on Wednesday, citing sources. A joint venture between VW and state-owned Chinese automaker FAW Group could “buy” a platform of EV technologies from Leapmotor, according to the…
TOKYO (Reuters) -Subaru will target annual sales of 600,000 battery electric vehicles by 2030 so that they make up 50% of its global sales target, the Japanese automaker said on Wednesday. It also said it planned to invest about 1.5 trillion yen ($10.51 billion) by around the start of next decade in electrification. “The coming…
(Reuters) -U.S.-German medical device maker Siemens Healthineers on Wednesday confirmed its outlook for the year despite an unexpected drop in quarterly operating profit amid delivery delays at cancer treatment specialist Varian. Adjusted earnings before interest and taxes (EBIT) fell 3% to 740 million euros ($812.59 million) in the third quarter, below the 773 million euros…
(Reuters) -Binance users traded cryptocurrency-related assets worth $90 billion in a single month in China, where such trading has been illegal since 2021, the Wall Street Journal reported, citing internal figures, and current and former employees of the exchange. The transactions made China Binance’s biggest market by far, accounting for 20% of volume worldwide, excluding…
BEIJING (Reuters) – China has rolled out a series of policy measures in recent weeks to support the economy as its post-pandemic recovery falters, and more steps are expected. The world’s second-largest economy staged a solid rebound in the first quarter after COVID curbs were removed, but the recovery has faded as demand at home…
By Danielle Broadway LOS ANGELES (Reuters) – Three former dancers for Grammy-winning singer Lizzo accused her of creating a hostile work environment, including weight shaming and sexually denigrating behavior, in a lawsuit released on Tuesday. The lawsuit in Los Angeles County Superior Court named Lizzo, whose real name is Melissa Viviane Jefferson, her production company…
By Leika Kihara CHIBA, Japan (Reuters) -The Bank of Japan’s decision last week to tweak its bond yield control policy was aimed at making its massive stimulus more sustainable, not a prelude to an exit from ultra-low interest rates, its deputy governor Shinichi Uchida said on Wednesday. Uchida said there was still a long way…
By David Lawder WASHINGTON (Reuters) -Biden administration officials complained on Tuesday about ratings agency Fitch’s downgrade of the top U.S. government credit rating, saying the group used flawed methodology and ignored a resilient economy. Leading the charge was U.S. Treasury Secretary Janet Yellen, who issued a statement declaring “I strongly disagree with Fitch Ratings’ decision”…
(Reuters) -The wage law enforcement agency of the Australian state of Victoria on Wednesday said it has filed more than 1,000 charges against top grocer Woolworths Group, alleging failure to pay A$1 million ($659,000) in long-service leave to over 1,200 former employees. The Wage Inspectorate Victoria (WIV) said that between 2018 and 2021, Woolworths did…
BEIJING (Reuters) – China’s finance ministry on Wednesday unveiled a package of tax relief measures to support small businesses and rural households, as the world’s second-largest economy struggles with a post-COVID recovery. Amid weak demand both at home and abroad, China’s economic recovery has lost steam since April, adding pressure on policymakers to revive the…
