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July 13, 2020
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Tesla wants to start building a new U.S. vehicle plant this summer

Reuters
FILE PHOTO: The Tesla factory is seen in Fremont, California, U.S. June 22, 2018. REUTERS/Stephen Lam DETROIT (Reuters) – Electric vehicle maker Tesla Inc (TSLA.O) wants to start building a large vehicle assembly plant in the southwestern United States as early as the third quarter of this year, the company......
Reuters - Business

Audi boss to head carmaker’s R+D division: sources

Reuters
FILE PHOTO: Markus Duesmann, board member of German luxury carmaker BMW attends the company’s annual news conference in Munich, Germany, March 21, 2018. REUTERS/Michael Dalder MUNICH (Reuters) – Markus Duesmann, the head of Audi (NSUG.DE), will also head the research and development division at German carmaker Volkswagen’s (VOWG_p.DE) premium brand,......
Reuters - Business

Vans, not glamorous, but key as EU weighs autos mega-merger

Reuters
MILAN/PARIS (Reuters) – Their silhouettes don’t stir dreams of adventure like a sports car or trendy SUV, but vans are a rare source of profit for European carmakers, which is why EU regulators are focused on them as they decide whether to back an industry mega-merger. FILE PHOTO: A Peugeot......
Reuters - Business

Exclusive: Who’s in charge at Nissan? COO’s allies push to give him shared CEO role – sources

Reuters
(Reuters) – Nissan’s chief operating officer Ashwani Gupta helped engineer the troubled automaker’s latest turnaround plan. Now his allies are pressing the board to promote him to co-CEO to drive the new strategy, said four people with direct knowledge. FILE PHOTO: Nissan Motor COO Ashwani Gupta speaks during a news......
Reuters - Business

Air maintenance firms, manufacturers plan for $60 billion in lost sales

Reuters
(Reuters) – Maintenance firms and spare parts producers who keep airplanes running are bracing for a decline of up to 75% in sales this year – and more pain to follow – as airlines park or retire thousands of aircraft due to the coronavirus pandemic. FILE PHOTO: People work near......
Reuters - Business

Australian regulator says Google’s $2.1 billion Fitbit deal could harm competition

Reuters
SYDNEY/BENGALURU (Reuters) – Australia’s antitrust regulator warned Google’s planned $2.1 billion acquisition of fitness tracker maker Fitbit (FIT.N) may give it too much of people’s data, potentially hurting competition in health and online advertising markets. FILE PHOTO: Fitbit Blaze watch is seen in front of a displayed Alphabet logo in......
Reuters - Business

Glass Lewis joins ISS in opposing Tesla chairwoman’s re-election to board

Reuters
(Reuters) – Glass Lewis said on Thursday that it urged Tesla Inc (TSLA.O) investors to vote against re-electing Chairwoman Robyn Denholm to the company’s board, making it the second proxy advisory firm to oppose her appointment. FILE PHOTO: Tesla logo is pictured on a car during electric car E-Rallye Baltica......
Reuters - Business

Glass Lewis opposes Tesla chairwoman’s re-election to Board: Bloomberg News

Reuters
FILE PHOTO: Tesla logo is pictured on a car during electric car E-Rallye Baltica 2019 in Bauska, Latvia July 23, 2019. REUTERS/Ints Kalnins (Reuters) – Proxy-adviser Glass Lewis has urged Tesla Inc (TSLA.O) investors to vote against re-electing chairwoman Robyn Denholm to the company’s board due to an arrangement with......
Reuters - Business

Amazon launches Saudi Arabia shopping site despite CEO’s dispute with kingdom

Reuters
FILE PHOTO: The logo of Amazon is seen in Lauwin-Planque, northern France, April 22, 2020. REUTERS/Pascal Rossignol (Reuters) – Amazon.com Inc on Wednesday launched a website for shoppers in Saudi Arabia, showing its continued business interests there despite a public dispute between Riyadh and the company’s chief executive, Jeff Bezos.......
Reuters - Business

Ex-Morgan Stanley diversity officer says bank slashed her budget by 71%

Reuters
FILE PHOTO: The headquarters of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton NEW YORK (Reuters) – A lawyer representing a former Morgan Stanley (MS.N) diversity officer who is suing the bank over racial discrimination said on Wednesday the bank cut her client’s budget for promoting......
Reuters - Business

FAA chief acknowledges agency, Boeing made mistakes on 737 MAX

Reuters
(Reuters) – The head of the Federal Aviation Administration, Steve Dickson, acknowledged on Wednesday that Boeing Co (BA.N) and the U.S. air safety agency both made mistakes on the 737 MAX jet, but rejected senators’ accusations the FAA was “stonewalling” probes after two fatal crashes. Federal Aviation Administration (FFA) Administrator......
Reuters - Business

U.S. fines Copa Airlines $450K for transporting passengers between U.S., Venezuela

Reuters
A Copa Airlines plane sits in the tarmac is pictured at Tocumen International Airport after the Panamanian government restricted flights in recent days due to the coronavirus disease outbreak (COVID-19), in Panama City, Panama March 18, 2020. REUTERS/Erick Marciscano (Reuters) – The U.S. Transportation Department said on Wednesday it had......
Reuters - Business

PepsiCo to drop Aunt Jemima name, criticized for racist history; Uncle Ben’s under review

Reuters
(Reuters) – PepsiCo Inc (PEP.O) will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot that has been criticized for a racist history. Bottles of Aunt Jemima branded syrup stand on a store shelf inside of a shop......
Reuters - Business

FAA ‘stonewalling’ Boeing 737 MAX probe after fatal crashes: senator

Reuters
(Reuters) – The U.S. Federal Aviation Administration has been “stonewalling” senators conducting an investigation into the design and development of Boeing Co’s (BA.N) 737 MAX in the wake of deadly crashes, a top Republican senator told a hearing on Wednesday. FILE PHOTO: Steve Dickson, Administrator of the Federal Aviation Administration,......
Reuters - Business

UK’s Supreme Court rules against Mastercard, Visa in retailers’ fees battle

Reuters
LONDON (Reuters) – Britain’s highest court on Wednesday upheld an earlier Court of Appeal ruling that credit card companies Visa (V.N) and Mastercard (MA.N) restricted competition in the way they set fees for retailers, opening the way for them to seek compensation. FILE PHOTO: A Visa credit card is seen......
Reuters - Business

Lufthansa warns its $10 billion bailout deal is in jeopardy

Reuters
FRANKFURT (Reuters) – German airline Lufthansa (LHAG.DE) warned on Wednesday that it might need to apply for protection from creditors if its state-backed bailout deal failed to win sufficient support at a shareholder vote on June 25. FILE PHOTO: Lufthansa ticket agents help travelers at the Denver International Airport outside......
Reuters - Business

Asian business sentiment plunges to record low on virus effect: Thomson Reuters/INSEAD survey

Reuters
SINGAPORE (Reuters) – Business sentiment of Asian companies sank to an 11-year low in the second quarter, a Thomson Reuters/INSEAD survey found, with some two-thirds of the firms polled flagging a worsening COVID-19 pandemic as the biggest risk over the next six months. FILE PHOTO: A worker wearing a protective......
Reuters - Business

Senate bill aims to improve aircraft certification after 737 MAX crashes

Reuters
SEATTLE/CHICAGO/TRURO, Mass. (Reuters) – U.S. senators introduced legislation on Tuesday that would strengthen FAA oversight of aircraft certification following fatal Boeing Co 737 MAX crashes, though a victim’s father said the bill, while a positive step, “still lacks teeth.” FILE PHOTO – Dozens of grounded Boeing 737 MAX aircraft are......
Reuters - Business

Tesla signs three-year pricing deal with battery cell maker Panasonic

Reuters
FILE PHOTO: The company logo is pictured on a Tesla Model X electric car in Berlin, Germany, November 13, 2019. REUTERS/Fabrizio Bensch (Reuters) – Tesla Inc (TSLA.O) has signed a three-year pricing deal with Japan’s Panasonic Corp (6752.T) relating to the manufacture and supply of lithium-ion battery cells at the......
Reuters - Business

Senators introduce aviation safety bill to reform certification after 737 MAX crashes

Reuters
FILE PHOTO – Dozens of grounded Boeing 737 MAX aircraft are seen parked in an aerial photo at Boeing Field in Seattle, Washington, U.S. July 1, 2019. Picture taken July 1, 2019. REUTERS/Lindsey Wasson SEATTLE/CHICAGO (Reuters) – U.S. lawmakers introduced a bipartisan bill on Tuesday that would reform aircraft certification......

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