NEW YORK (Reuters) – U.S. consumer prices rose moderately in May, leading to the smallest annual increase in inflation in more than two years, though underlying price pressures remained strong, supporting views that the Federal Reserve would keep interest rates unchanged on Wednesday while adopting a hawkish posture. The Consumer Price Index (CPI) increased 0.1%…
By Daniel Leussink TOKYO (Reuters) -Toyota will introduce high-performance, solid-state batteries and other technologies to improve the driving range and cut costs of future electric vehicles (EVs), the automaker said on Tuesday, a strategic pivot that sent its shares higher. The Japanese giant’s technology roadmap, covering aspects as varied as next-generation battery development and a…
By David Shepardson (Reuters) -General Motors and Samsung SDI will build a more than $3 billion EV battery cell plant in Indiana scheduled to begin operations in 2026, creating 1,700 jobs, the state’s governor said Tuesday. The companies said in April they would invest more than $3 billion to build a joint venture EV battery…
By Chris Taylor NEW YORK (Reuters) – For American kids, summer camps can conjure up some idyllic experiences: Canoeing on lakes, munching on s’mores by campfires. For parents trying to get their kids into popular camps, the vibe can be a little different: More like “The Hunger Games.” Just ask Ellen Sheng, a writer and…
By Helen Reid LONDON (Reuters) – IKEA is training call centre workers to become interior design advisers as the Swedish furniture giant aims to offer more home improvement services and hand run-of-the-mill customer queries to an artificial intelligence bot called Billie. In April, IKEA expanded its interior design services to the UK and United States,…
By Lisa Pauline Mattackal and Medha Singh (Reuters) – It’s a rough time to be an altcoin. Insecurity reigns. A slew of altcoins – a catch-all for most cryptocurrencies except bitcoin and ether – have been harpooned in lawsuits filed by U.S. regulators against exchanges Binance and Coinbase last week, hammering the prices of the…
By Brendan Pierson (Reuters) – The Biden administration on Monday finalized a deal to preserve the federal mandate requiring U.S. health insurers to cover preventive care like cancer screenings and HIV-preventing medication at no extra cost to patients while a legal challenge continues. The agreement, first disclosed on Friday and now finalized in a filing…
By Dawn Chmielewski and Lisa Richwine (Reuters) – When Pixar Animation Studios releases its 27th feature film in theaters on Friday, the pioneering studio behind blockbuster movies such as “Toy Story,” “Cars” and “Finding Nemo” will be under pressure to demonstrate it has not lost its Midas touch. The stakes are high for “Elemental,” a…
By Ann Saphir and Michael S. Derby (Reuters) – Federal Reserve officials sit down Tuesday for their first meeting in 15 months with no pre-determined interest rate hike on the table in what amounts to the debut gathering of the “will-they-or-won’t-they” era. With still-too-hot inflation riding their heels but abundant uncertainty about both the economic…
A look at the day ahead in U.S. and global markets from Samuel Indyk. Jerome Powell and his band of brothers on the Federal Open Market Committee will be sitting nervously. At 0830 EDT (1230 GMT), the Bureau of Labor Statistics will release its latest consumer price data, which could go some way to determining…
