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OSLO (Reuters) -Norwegian defence contractor Kongsberg Gruppen said on Thursday it plans to spin off its non-military business Kongsberg Maritime in an initial public offering on the Oslo Bourse. The spin-off will create two focused and independent companies, each positioned to seize global growth opportunities within their respective markets, Kongsberg Gruppen said in a statement. …

Norway’s Kongsberg Gruppen to spin off Maritime business in IPO Read More »

By Nora Eckert DETROIT (Reuters) -Workers at a Volkswagen plant in Tennessee voted to authorize a strike, the United Auto Workers union said Wednesday evening, paving the way for a potential walkout at the Chattanooga facility. The UAW and automaker have been in contract negotiations for more than a year, after workers there voted 73% …

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(Reuters) -Shares in three of the “Magnificent Seven” companies with significant investments in artificial intelligence were mixed in after-hours trade on Wednesday after the mega caps released third quarter earnings. Shares in Google-parent Alphabet rose 6.2% after the company beat Wall Street estimates for third-quarter revenue on Wednesday, as both its core advertising business and …

Mixed share reaction to megacap earnings burst, Meta droops Read More »

By Nora Eckert, Abhirup Roy and David Shepardson DETROIT (Reuters) -One month after a $7,500 federal U.S. tax credit for electric vehicles and plug-in hybrids was scrapped, automakers are rethinking their product pipelines and focusing on cheaper models to keep car buyers interested, company executives said on Wednesday at a Reuters conference in Detroit.  Volkswagen’s …

Carmakers’ answer to US EV lull: hybrids, cheaper models Read More »