Reuters US Business

(Reuters) -Rivian Automotive Inc said on Monday it produced 7,363 vehicles at its manufacturing facility in Normal, Illinois and delivered 6,584 vehicles in the quarter ended Sept. 30. The company also reiterated its full-year production target of 25,000 vehicles, sending shares up 9% in post-market trade. The Amazon.com Inc-backed electric vehicle company produced 4,401 and …

Rivian produces over 7,000 vehicles in third quarter, maintains full-year target Read More »

(Corrects spelling of Tesla in headline) By Akash Sriram and Savyata Mishra (Reuters) – Tesla Inc shares fell about 9% on Monday after the world’s most valuable automaker sold fewer-than-expected vehicles in the third quarter due to logistic hurdles, with slowing outlook for economic growth raising doubts about demand. If losses hold, Tesla could shed …

Tesla slides on widening delivery and production gap, demand worries Read More »

By Tom Polansek CHICAGO (Reuters) -Brazilian meatpacker JBS SA is closing its U.S. plant-based foods business, Planterra Foods, after about two years, the company said on Monday. The closure signals increasing troubles in the plant-based protein sector, where U.S. sales are flattening. Colorado-based Planterra sold fake meat under the Ozo brand, but JBS will now …

Meatpacker JBS to close U.S. plant-based foods business Read More »

(Reuters) – Georgia state officials said on Monday they were disappointed after a local court rejected a joint proposal to secure local incentives for Rivian Automotive Inc’s $5-billion manufacturing plant in the state. “We remain undeterred in our efforts to bring high-paying, American manufacturing jobs to Georgia, and are currently assessing all legal options,” the …

Georgia state court rejects incentive plan for Rivian $5-billion plant Read More »

By David Shepardson WASHINGTON (Reuters) -The U.S. Federal Aviation Administration (FAA) is set as early as Tuesday to require that airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018, sources told Reuters. The FAA first proposed the rule in October 2021. Under existing rules, …

U.S. set to finalize new flight attendant rest time rules -sources Read More »

By Hannah Lang (Reuters) – The Financial Stability Oversight Council (FSOC), a U.S. regulatory panel comprising top financial regulators, on Monday recommended that Congress pass legislation addressing risks digital assets pose to the financial system, including bills to bolster oversight of crypto spot markets and stablecoins. In a report following U.S. President Joe Biden’s executive …

U.S. Treasury encourages new laws to address crypto regulation gaps Read More »

MOSCOW (Reuters) -Russian manufacturing activity grew at its fastest rate in 3-1/2 years in September, driven by rises in production, new orders and client demand, a business survey showed on Monday, though Western sanctions continued to weigh on export business. The S&P Global Purchasing Managers’ Index (PMI) rose in September to 52.0 from 51.7 in …

Russian factory activity expands at fastest rate in Sept since 2019 – PMI Read More »

BERLIN (Reuters) – German manufacturing activity contracted for a third month in a row in September, hurt by a deepening downturn in new orders as the soaring cost of energy set off alarm bells about the outlook for business, a survey showed on Monday. S&P Global’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts …

German manufacturing shrinks in Sept as new orders slump – PMI Read More »

By Elizabeth Howcroft LONDON (Reuters) – Sales of non-fungible tokens dropped sharply in the third quarter, according to blockchain tracker DappRadar, as crypto investors hunker down for a “crypto winter” and demand for the highly speculative digital assets shows little sign of returning. Non-fungible tokens (NFTs) are a kind of blockchain-based asset representing a digital …

NFT sales plunge in Q3, down by 60% from Q2 Read More »

(Reuters) -BHP Group Ltd lifted its long-term demand forecast for steel as a global shift towards the decarbonisation of power generation will boost requirement of the commodity, the world’s largest listed miner said on Monday. The Melbourne, Australia-based miner raised its forecasts for steel consumption by 2%, or 42 million tonnes, for 2030 and by …

BHP lifts steel consumption forecast on surging demand for green power Read More »