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Tag: CYCS

  • Manchin threatens to sue US Treasury over EV tax credit rules

    WASHINGTON, March 29 (Reuters) – Senate Energy Committee Chairman Joe Manchin said on Wednesday he could go to court after the US Treasury Department released guidelines on battery procurement for electric vehicle tax credits later this week. “If it goes off the rails” and goes against the intent of climate legislation passed in August, “I […]

  • U.S. battery sourcing guidelines to cut some EV tax credits — official

    WASHINGTON, March 29 (Reuters) – The long-awaited guidance from the US Treasury Department regarding battery procurement requirements for electric vehicle tax credits expected by Friday will result in fewer vehicles receiving full or partial credits, a US official told Reuters. In December, the Treasury Department decided not to release its proposed battery procurement guidelines until […]

  • Adidas withdraws its opposition to Black Lives Matter’s three-stripe design

    March 29 (Reuters) – Sportswear manufacturer Adidas AG (ADSGn.DE) turned down Wednesday 48 hours after the request to the US Trademark Office to reject a Black Lives Matter application for a trademark with three parallel stripes. “Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” […]

  • Alibaba’s break-up plan raises hopes that China’s crackdown on technology will come to an end

    March 29 (Reuters) – Shares in Alibaba Group (9988.HK) and other leading Chinese tech companies rose on Wednesday as investors hailed an unprecedented revamp of the Jack Ma-founded company as the beginning of the end of Beijing’s crackdown on the sector. Alibaba said Tuesday it planned to split into six units and explore fundraising or […]

  • AMC Entertainment shares are jumping on report that Amazon is exploring a deal

    March 28 (Reuters) – Shares of AMC Entertainment Holdings Inc (AMC.N) rose as much as 21% on Tuesday, following a report that e-commerce giant Amazon.com Inc (AMZN.O) was looking to buy the theater chain. Amazon founder Jeff Bezos has sent his investment advisers and top entertainment executives to investigate acquisition plans for AMC, entertainment industry […]

  • EU countries approve the phasing out of CO2-emitting cars by 2035

    BRUSSELS, March 28 (Reuters) – European Union countries on Tuesday gave final approval to a landmark law to end sales of new CO2-emitting cars by 2035, after Germany granted an exemption for cars running on e-fuels . The approval of EU countries’ energy ministers means Europe’s key automotive climate policy can now come into effect […]

  • Nestle to investigate banking relationships after Credit Suisse collapse

    ZURICH, March 28 (Reuters) – Nestle (NESN.S) will examine its banking relationships following the planned acquisition of Credit Suisse (CSGN.S) by UBS (UBSG.S), the food group’s CEO Mark Schneider said on Tuesday. The world’s largest food group was a customer of Credit Suisse, Schneider told broadcaster TeleZueri in an interview to be shown Tuesday evening, […]

  • St. Louis is suing Hyundai and Kia for auto theft, joining other US cities

    WASHINGTON, March 27 (Reuters) – The city of St. Louis, Missouri, said Monday it is joining several major US cities in suing Korean automakers Hyundai Motor (005380.KS) and Kia Corp (000270.KS) over the not installing anti-theft technology in millions of their vehicles. The lawsuit filed in U.S. District Court in Missouri follows similar actions by […]

  • US and Japan sign trade deal on battery minerals for electric vehicles

    WASHINGTON, March 28 (Reuters) – The United States and Japan on Tuesday announced a trade deal on battery minerals for electric vehicles that is essential to strengthening their battery supply chains and giving Japanese automakers wider access to a new $7,500 US EV tax credit. The swiftly negotiated agreement prohibits the two countries from imposing […]

  • China’s Baidu unveils more capabilities of AI-powered chatbot Ernie

    BEIJING, March 27 (Reuters) – Chinese search engine Baidu (9888.HK) on Monday shared pre-recorded videos of its AI-powered chatbot Ernie, which summarizes financial statements and produces PowerPoint presentations, among other industry-focused capabilities. According to images shared by a Baidu spokesperson in a media-focused group on WeChat, China’s most-used messaging service, the Chinese chatbot has a […]