By Hyonhee Shin SEOUL (Reuters) -North Korea’s position as a nuclear weapons state will remain an undeniable reality as it builds up its forces until military threats from the United States and its allies are eliminated, state news agency KCNA said on Friday. It was quoting comments by North Korean Foreign Minister Choe Son Hui…
By Casey Hall SHANGHAI (Reuters) – Automakers keen to make a splash at the Shanghai auto show showed off vehicles boasting features from crystal balls to in-car karaoke systems and 3D dashboards, as competition to attract drivers heats up in the world’s largest auto market. At the first such showcase in China since the country’s…
WASHINGTON/MANILA (Reuters) – U.S. President Joe Biden will meet his Philippine counterpart Ferdinand Marcos Jr at the White House on May 1 to discuss economic cooperation and the Indo-Pacific region, Manila and Washington said on Friday. The treaty allies have enjoyed warmer ties since Marcos took office last June, reversing his predecessor’s anti-U.S. stance. Next…
By Svea Herbst-Bayliss NEW YORK (Reuters) – ValueAct Capital is pushing to oust Seven & i Holdings President Ryuichi Isaka, saying he is responsible for a “flawed strategy” and stating publicly for the first time that he is one of four directors it wants to replace at next month’s annual meeting. The San Francisco-based investment…
DETROIT (Reuters) – Facing a booming and hyper-competitive market for electric vehicles (EVs) in China, Ford Motor Co needs to reshape its brand for the world’s largest car market, Chief Executive Jim Farley said. “We’re going to have to rethink what the Ford brand means in a place like China,” Farley told reporters on Thursday…
By Richard Cowan WASHINGTON (Reuters) – U.S. House Speaker Kevin McCarthy has begun working in earnest to persuade his fellow Republicans to support a $1.5 trillion increase in the nation’s debt ceiling, amid early indications of a possible revolt in his thin majority. McCarthy faces the toughest test of his young speakership with a bill…
DETROIT (Reuters) – Electric car giant Tesla’s decision to cut prices to drive up sales volume reflects the pressure it faces from competition and an ageing product line-up, Ford Chief Executive Jim Farley said on Thursday. Farley said Tesla’s price cuts underscore intense competition in the two-row crossover or SUV segment of the auto market,…
By Joe Skipper and Steve Gorman BOCA CHICA, Texas (Reuters) -SpaceX’s next-generation Starship spacecraft exploded minutes after liftoff in an uncrewed test flight from South Texas on Thursday, cutting short a key step in Elon Musk’s development of a rocket vessel to eventually take humans to the moon and Mars. The flight test was the…
By Steve Gorman and Arlene Eiras LOS ANGELES (Reuters) – The spectacular explosion of SpaceX’s new Starship rocket minutes after it soared off its launch pad on a first flight test is the latest vivid illustration of a “successful failure” business formula that serves Elon Musk’s company well, experts said on Thursday. Rather than seeing…
By Byron Kaye SYDNEY (Reuters) – Fox Corp CEO Lachlan Murdoch dropped a defamation lawsuit against an Australian news site over an opinion piece he said accused him of complicity in the Jan. 6 attack on the U.S. Capitol, saying the defendant was trying to generate publicity. Murdoch’s lawyer in Australia said his client was…
