Tag: MTPIX
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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 […]
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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,” […]
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Alibaba splits empire into six units, aims for IPOs
March 28 (Reuters) – Alibaba Group (9988.HK) plans to split its business into six main units, from e-commerce to cloud in the largest restructuring in its 24-year history, five of which it says are fundraising whether to explore IPOs. The six units are Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart […]
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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, […]
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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 […]
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Research shows that China has spent $240 billion on bailing out Belt & Road countries
JOHANNESBURG, March 28 (Reuters) – China has spent $240 billion between 2008 and 2021 to bail out 22 developing countries, with the amount soaring in recent years as more people have struggled to repay loans spent on building of “Belt & Road” infrastructure, according to a study published Tuesday. Nearly 80% of bailout loans were […]
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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 […]
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China’s industrial earnings slump is deepening amid weak demand and high costs
China Jan-Feb Industrial Profit -22.9% y/y vs -4.0% for 2022 Recovery far from solid, demand and cost issues persist BEIJING, March 27 (Reuters) – The slump in earnings for Chinese industrial companies deepened in the first two months of 2023, weighed down by weak demand and stubbornly high costs as the world’s second-largest economy struggled […]
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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 […]