MILAN (Reuters) – Stellantis on Wednesday unveiled its new ‘STLA Medium’ vehicle platform, the first of four new electric-centric bases that will underpin all future models made by the world’s fourth largest carmaker by sales. Stellantis, formed at the beginning of 2021 through the merger of Fiat Chrysler and Peugeot maker PSA, sold around 6…
(Reuters) – Chinese auto brands are on track to account for just over 50% of the cars sold in their home market this year thanks to a growing dominance in electric vehicles, consultancy AlixPartners said on Wednesday. It would represent the first time Chinese automakers have controlled a majority share of China’s car market –…
(Reuters) – Toyota Motor North America, a unit of Toyota Motor Corp reported a rise in U.S. auto sales for June as demand for personal transport remains strong despite high interest rates. The company sold 195,448 vehicles in the U.S. for the month of June, up 14.9% on a volume and daily selling rate basis…
WASHINGTON(Reuters) – New orders for U.S.-made goods increased less than expected in May as a surge in civilian aircraft orders was partially offset by sluggishness elsewhere amid higher interest rates that are eroding demand. Factory orders rose 0.3% after advancing by the same margin in April, the Commerce Department said on Wednesday. Economists polled by…
(Reuters) -Nikola said on Wednesday that wholesale and retail sales of its electric vehicles jumped in the second quarter from the first, a positive sign for the startup that has been grappling with a cash crunch and stiff competition. The company said retail sales of its trucks doubled to 66 in the quarter, while wholesale…
BENGALURU (Reuters) – The Reserve Bank of India (RBI) on Wednesday asked banks and non-bank lenders to issue credit, debit and prepaid cards on multiple networks to give customers the freedom to choose. “On a review, it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The endowments of New York City’s pricey private schools are flourishing thanks to a steady inflow of contributions from wealthy donors and the boost to portfolios from the rising U.S. stock market. The tuition to attend private day schools in New York City can range from $58,000 to…
(Reuters) – Parcel delivery firm United Parcel Service Inc and the Teamsters Union on Wednesday accused each other of walking away from the negotiations, delaying contract talks that covers roughly 340,000 U.S. drivers, package handlers and loaders at the company. Here is a timeline of key events leading up to the impasse in negotiations: Date…
VATICAN CITY (Reuters) – The Vatican will study the modern-day killing of Christians and try to list “all those who have shed their blood” in the name of Christ since the turn of the century, Pope Francis said on Wednesday. In a letter released by the Vatican, Francis said he had given the task to…
By Ali Sawafta JENIN, West Bank (Reuters) -Militants from the Gaza Strip fired rockets on Wednesday after Israeli forces withdrew from the Palestinian city of Jenin on Tuesday, following one of their biggest military operations in the occupied West Bank for years. Israeli jets hit an underground weapons manufacturing facility in response, the military said,…
