By David Shepardson WASHINGTON (Reuters) -Two U.S. House of Representatives committees said Friday they are investigating Ford Motor Co’s partnership with Chinese battery company CATL. Ford announced in February it is spending $3.5 billion to build a battery plant in Michigan using technology from CATL, the world’s largest battery maker. Jason Smith and Mike Gallagher,…
By Tim Hepher PARIS (Reuters) -Airbus is grappling with a growing shortfall in the range of its upcoming A321XLR passenger jet after reaching an agreement with European regulators on design safeguards needed to achieve certification, industry sources said. The setback has prompted the planemaker to offer some customers potential deals for the larger A330neo to…
By Manas Mishra (Reuters) – The rising popularity of highly-effective obesity drugs is weighing on demand for robot-assisted bariatric surgeries, top surgical robots maker Intuitive Surgical said late on Thursday. The company’s shares fell 4.5% to $332.2 in premarket trading on Friday, with at least five analysts attributing the drop to lower-than-expected growth in procedures…
STOCKHOLM (Reuters) -Seconded staff at the Swedish embassy in Baghdad have been temporarily withdrawn for security reasons after it was stormed by Iraqis, Sweden said on Friday, amid persistent anger among Muslim states about a planned Koran burning in Sweden’s capital. Iraq expelled the Swedish ambassador on Thursday and recalled its charge d’affaires in Stockholm…
By Arathy Somasekhar and Arunima Kumar HOUSTON (Reuters) -SLB on Friday flagged weakening North America oilfield activity even as the company topped analysts’ estimates for second quarter profit, helped by a rebound in offshore and international drilling. SLB, the largest oilfield service company and former Schlumberger, joined rivals Halliburton and Baker Hughes in forecasting tepid…
By Matt Tracy (Reuters) – The U.S. commercial property market has faced severe challenges since the pandemic due to lingering office vacancies, diminished retail activity and higher interest rates. That stress has caused banks and other lenders to tighten their standards for new loans and scrutinize existing ones. While regional banks carry the greatest exposure…
FRANKFURT (Reuters) -JPMorgan will expand its online bank Chase to Germany and other European Union countries, CEO Jamie Dimon told German newspaper Handelsblatt, a move that increases competition for European rivals in a crowded market. Reuters has reported preparations for the move, but the CEO’s comments to Handelsblatt published on Friday mark the first official…
(Reuters) – Russia’s central bank said on Friday it would resume foreign exchange interventions based on its National Wealth Fund (NWF) investments from Aug. 1, in addition to mirroring the finance ministry’s operations within the budget rule framework. It said the limit on such FX interventions was set at 300 billion roubles ($3.33 billion) per…
BEIJING (Reuters) – China’s cabinet has approved guidelines on transforming underdeveloped areas in megacities, in the government’s latest move to support the economy, state media said on Friday. The post-COVID recovery in China, the world’s second-largest economy, is faltering as demand weakens at home and abroad, adding pressures on policymakers to roll out more support…
(Reuters) – California’s power grid operator said it does not plan to ask consumers to conserve power on Friday after declaring an energy emergency late Thursday as homes and businesses cranked up their air conditioners to escape a lingering heat wave. The California Independent System Operator (ISO), which operates the grid serving more than 32…
