BERLIN (Reuters) – Pilots at German flagship carrier Lufthansa voted on Sunday by a margin of 97.6% in favour of industrial action, threatening further disruption during the busy summer travel season. Strikes and staff shortages have already forced airlines including Lufthansa to cancel thousands of flights and caused hours-long queues at major airports, frustrating holidaymakers…
SHANGHAI (Reuters) – Shares in Chinese semiconductor companies slumped on Monday, following the latest U.S. crackdown on China’s chipmaking industry to slow Beijing’s technological and military advances. The Biden administration published a sweeping set of export controls on Friday, including a measure to cut China off from certain semiconductor chips made anywhere in the world…
By Laila Kearney NEW YORK (Reuters) -Oil prices held at three-week highs on Thursday after OPEC+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020. Brent crude futures gained 88 cents, or 0.9%, to $94.25 per barrel by 11:19…
TOKYO (Reuters) – Japanese automaker Nissan Motor aims to have seven electrified vehicle models by 2026 and 80% of its line-up to be electrified by 2030 in China, chief operating officer Ashwani Gupta said on the sidelines of the Shanghai auto show on Tuesday. He said that China had already passed the tipping point where…
By Chibuike Oguh NEW YORK (Reuters) – Global shares were mostly flat while U.S. yields fell on Wednesday after the Federal Reserve delivered its 11th consecutive hike in interest rates aimed at reining in rising consumer prices. The rate hike, which was in line market expectations, took the benchmark overnight interest rate to between 5.25%…
By David Shepardson and Hyunjoo Jin WASHINGTON/SAN FRANCISCO (Reuters) -Senator Elizabeth Warren, a longtime critic of Tesla Inc boss Elon Musk, on Monday raised concerns that the automaker’s board had failed to address the risks posed by his role as CEO of Twitter. Musk’s $44 billion takeover of the social media platform in October has…
By Jonathan Stempel (Reuters) – Eli Lilly and Co was sued on Monday by the U.S. Equal Employment Opportunity Commission, which accused the drugmaker of illegally refusing to hire older workers for sales representative jobs because of their age. The complaint said Lilly’s violations began after Stephen Fry, its senior vice president for human resources…
By David Shepardson WASHINGTON (Reuters) -Tesla is recalling over 2 million vehicles in the U.S. to install new safeguards in its Autopilot advanced driver-assistance system, after a federal safety regulator cited safety concerns. The largest-ever Tesla recall appears to cover nearly all vehicles on U.S. roads to better ensure drivers pay attention when using the…
By Rupam Jain MUMBAI (Reuters) -Cyrus Mistry, the 54-year-old former chairman of Indian conglomerate Tata Sons, died in a road accident near financial capital Mumbai on Sunday, Indian police said. Mistry was ousted as chairman of Tata Sons, the holding company of the $300-billion salt-to-software Tata conglomerate, in a boardroom coup in 2016, sparking a…
By Felix Onuah ABUJA (Reuters) – Nigeria has saved over 1 trillion naira ($1.32 billion) in just over two months by scrapping a popular but costly subsidy on petrol and moved to unify its multiple exchange rates, President Bola Tinubu said on Monday. Tinubu is under pressure as prices soar following the country’s boldest reforms…
