By Hyunjoo Jin and Akash Sriram (Reuters) -Tesla CEO Elon Musk said on Thursday he and the board of the electric vehicle company will discuss making a $5 billion investment in his artificial intelligence startup xAI, fueling concerns about a conflict of interest. Musk, the world’s richest person, launched xAI last year in a bid …
Musk to discuss $5 billion xAI investment with Tesla board Read More »
LONDON (Reuters) – Britain’s new finance minister Rachel Reeves is expected to reveal a 20 billion pound ($25.7 billion) shortfall in the public finances, potentially paving the way for tax rises in the next budget, the Guardian newspaper reported on Thursday. The figure is not final and could still change before Reeves sets out an …
By Nick Carey and Nora Eckert LONDON/DETROIT (Reuters) -Problems in the highly competitive U.S. car market including weak prices, high inventories and difficult logistics dented profits and hit shares of automakers including Ford Motor, Stellantis and Nissan on Thursday, as they scramble to find a fix. Global automakers are facing a weakening outlook for sales …
US market proves a headache for global carmakers Read More »
By Vera Eckert FRANKFURT (Reuters) – German utility EnBW this week pledged 1 billion euros ($1.08 billion) to build pipelines to carry clean hydrogen as part of a plan for a nationwide grid that will start commercial operations by 2032. Germany is betting on green hydrogen, produced through electrolysis driven by wind and solar power, …
Explainer-How Germany’s hydrogen economy could transform energy use Read More »
(Reuters) – Shell said on Thursday it will build a 100-megawatt renewable hydrogen electrolyser in Germany, the company’s second unit in Europe, which will help it reduce carbon emissions at its refineries. The Refhyne II electrolyser at the Rheinland refinery is scheduled to begin operating in 2027 and produce up to 44,000 kilograms per day of …
Shell to build renewable hydrogen electrolyser in Germany Read More »
By Tim Hepher, Allison Lampert and David Shepardson FARNBOROUGH, England (Reuters) – The world’s largest air show fizzled out on Thursday with a solid new Saudi jetliner order unable to dispel the gloom over recent problems in producing planes fast enough to meet demand. Britain’s Farnborough Airshow opened earlier this week amid alarm signals from …
Jetmaking industrial problems overshadow orders at damp air show Read More »
By Christoph Steitz FRANKFURT (Reuters) -German conglomerate Thyssenkrupp on Thursday cut its full-year outlook, citing weak demand for its products that is not expected to stabilise in the short-term and sending its shares lower in late Frankfurt trade. The company, which makes steel, submarines and car parts, warned that measures of an efficiency programme launched …
Germany’s Thyssenkrupp cuts outlook as market environment remains weak Read More »
MILAN (Reuters) -The head of eyewear company EssilorLuxottica said Meta had informed him that it might take a stake in the company, adding on Thursday that he would welcome such a step. The comments from CEO Francesco Milleri follow media reports last week that Meta could invest in the Ray-Ban maker. The Wall Street Journal …
EssilorLuxottica says Meta told it about potential investment Read More »
LONDON (Reuters) -Tom Hayes, the first trader jailed worldwide for interest rate rigging, has been given permission to appeal against his conviction at Britain’s Supreme Court, his lawyers said on Thursday. Hayes, a former star Citigroup and UBS trader, was convicted in 2015 of conspiracy to defraud by manipulating Libor, a benchmark rate once used …
By Jonathan Stempel (Reuters) – Monsanto will pay $160 million to settle a lawsuit by the city of Seattle that accused the unit of Germany’s Bayer of polluting the city’s drainage system and the local Lower Duwamish River with toxic chemicals known as PCBs. City Attorney Ann Davison announced the settlement on Thursday, calling it …
Bayer’s Monsanto to pay $160 million to resolve Seattle’s PCB contamination lawsuit Read More »
