MOSCOW (AP) — Russia said Monday it may use an arrangement similar to that used for payments for its gas supplies to pay its dollar-denominated foreign debts. The Vedomosti business daily quoted Finance Minister Anton Siluanov as saying that Russia will offer the holders of its Eurobond obligations to accept a payment system bypassing Western…
MECKENHEIM, Germany (AP) — Martin Kopf needs natural gas to run his family’s company, Zinkpower GmbH, which rustproofs steel components in western Germany. Zinkpower’s facility outside Bonn uses gas to keep 600 tons of zinc worth 2.5 million euros ($2.5 million) in a molten state every day. The metal will harden otherwise, wrecking the tank…
WASHINGTON (AP) — The new head of the government’s road safety agency says it will intensify efforts to understand the risks posed by automated vehicle technology so it can decide what regulations may be necessary to protect drivers, passengers and pedestrians. In an interview Wednesday, Steven Cliff, who was confirmed last month as head of…
(Reuters) -French-Italian automaker Stellantis and South Korean battery maker Samsung SDI on Monday said they plan to open a second joint-venture plant in the U.S. to build electric vehicle batteries, with a target to start production in 2027. The companies said the transaction still needs to be finalized, and where the plant will be located…
By Ernest Scheyder (Reuters) – A bipartisan piece of legislation to be introduced in the U.S. Senate on Friday would force defense contractors to stop buying rare earths from China by 2026 and use the Pentagon to create a permanent stockpile of the strategic minerals. The bill, sponsored by Senators Tom Cotton, an Arkansas…
TOKYO (Reuters) – Shares in Asahi Group Holdings surged on Wednesday after the Japanese beermaker announced its first price increases for canned beer in 14 years and a range of other price hikes to cope with rising costs. Retail prices on 162 items, mostly beer products, will rise between 6% and 10% from Oct. 1,…
(Reuters) – Intel Corp is committing $20 billion to build a manufacturing mega-site in New Albany, on the outskirts of Columbus, Ohio, Time reported on Thursday. (Reporting by Akriti Sharma in Bengaluru; Editing by Shounak Dasgupta)
(Reuters) – Rivian Automotive Inc produced 1,015 vehicles by the end of 2021, the Amazon-backed electric pickup truck maker reported in a filing on Monday, in line with its lowered expectations. Last month, Rivian said it expected production to be “a few hundred vehicles short” of its 2021 target of 1,200 because of supply chain…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. employers likely hired the fewest workers in 14 months in June, but the jobless rate probably remained near pre-pandemic lows, underscoring labor market tightness that could encourage the Federal Reserve to deliver another 75-basis-point interest rate increase later this month. Despite the anticipated slowdown in job growth last…
By Shreyashi Sanyal (Reuters) -European shares ended Thursday lower after the European Central Bank eased the pace of its interest rate hikes but signalled more tightening to come, while Swedish builder Skanska tumbled as its earnings were hit by soaring inflation and high rates. The pan-European STOXX 600 index closed 0.5% lower, hovering near one-month…
