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S.Korea’s LGES reviews plan for $1.3 bln Arizona battery plant as U.S. inflation bites

Reuters
SEOUL, June 29 (Reuters) – South Korean battery maker LG Energy Solution Ltd (LGES) (373220.KS) plans to reassess its investment plan for a standalone Arizona battery factory due to the current U.S. economic environment, a company spokesperson said on Wednesday. The spokesperson’s comments on the previously announced $1.3 billion investment......

Siemens to buy U.S. software company Brightly in $1.58 bln deal

Reuters
Chief Executive Officer (CEO) of German industrial conglomerate Siemens, Roland Busch attends the virtual annual shareholder meeting in Munich, Germany, February 10, 2022. Sven Hoppe/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register ZURICH, June 27 (Reuters) – Siemens (SIEGn.DE) is buying U.S. tech company Brightly Software......

Samsung Australia fined $9.7 mln over false water-resistance claims

Reuters
A woman tries out a Samsung Electronics’ Galaxy Note 8 at its store in Seoul, South Korea, October 11, 2017. REUTERS/Kim Hong-Ji Register now for FREE unlimited access to Reuters.com Register June 23 (Reuters) – Australia’s competition regulator said on Thursday a court ordered the local unit of Samsung Electronics......

EXCLUSIVE G7 likely to discuss Russian turbine, but may not find solution -Canada minister

Reuters
Canada’s Minister of the Environment and Climate Change Jonathan Wilkinson takes part in a news conference at the Ornamental Gardens in Ottawa, Ontario, Canada November 19, 2020. REUTERS/Blair Gable/File Photo Register now for FREE unlimited access to Reuters.com Register OTTAWA, June 22 (Reuters) – The G7 is likely to discuss......

Italy’s De Nora IPO oversubscribed despite turbulent market -bookrunner

Reuters
De Nora’s logo is displayed on a smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register June 22 (Reuters) – Industrie De Nora, Italy’s first initial public offering (IPO) since Russia invaded Ukraine, overcame market turbulence on Wednesday with its......

Power consumption at records in China as Premier issues warning

Reuters
Electricity pylon and powers lines are seen in Nanyang, Henan province, China October 13, 2021. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register SHANGHAI, June 22 (Reuters) – The consumption of electricity in the Chinese provinces of Shandong and Henan reached records this week, primarily driven by......

U.S. home sales slide as prices break above $400,000 for first time

Reuters
Existing home sales fall 3.4% in May Median house price surges 14.8% to $407,600 from year ago Housing inventory falls 4.1% from year ago Chicago Fed National Activity Index falls to 0.01 in May WASHINGTON, June 21 (Reuters) – U.S. existing home sales tumbled to a two-year low in May......

Analysis: Europe’s summer of discontent reveals travel sector labour crisis

Reuters
AMSTERDAM/PARIS/DOHA, June 19 (Reuters) – After 21 years as a service agent at Air France (AIRF.PA), Karim Djeffal left his job during the COVID-19 pandemic to start his own job-coaching consultancy. “If this doesn’t work out, I won’t be going back to the aviation sector,” says the 41-year-old bluntly. “Some......

Miner Fortescue says it won’t shy away from countries with troubled human rights

Reuters
Andrew Forrest, Chairman and Founder, Fortescue Metals Group speaks at the Global Energy Transition 2022 conference in New York City, New York, U.S. June 14, 2022. REUTERS/David Dee Delgado Register now for FREE unlimited access to Reuters.com Register NEW YORK, June 14 (Reuters) – Andrew Forrest, the chairman and founder......

In ‘miracle’ city Shenzhen, fears for China’s economic future

Reuters
SHENZHEN, China, June 13 (Reuters) – (This June 12 story has been refiled to clarify location in penultimate paragraph) David Fong made his way from a poor village in central China to the southern boomtown of Shenzhen as a young man in 1997. Over the next 25 years he worked......

Striking South Korean truckers target chips, put brakes on port activity

Reuters
ULSAN, South Korea, June 10 (Reuters) – Defiant South Korean truckers embarked on broader and more aggressive strike action on Friday, threatening to severely curtail deliveries of raw materials for semiconductors and petrochemical products. Entering its fourth day, the strike protesting soaring fuel costs halved production at Hyundai Motor Co’s......

How a battery shortage is hampering the U.S. switch to wind, solar power

Reuters
June 9 (Reuters) – U.S. renewable energy developers have delayed or scrapped several big battery projects meant to store electrical power on the grid in recent months, scuttling plans to replace fossil fuels with wind and solar energy. At least a dozen storage projects meant to support growing renewable energy......

EU agrees single mobile charging port in blow to Apple

Reuters
IPhone 12 phones are seen at the new Apple Store on Broadway in downtown Los Angeles, California, U.S., June 24, 2021. REUTERS/Lucy Nicholson Register now for FREE unlimited access to Reuters.com Register BRUSSELS, June 7 (Reuters) – Apple (AAPL.O) will have to change the connector on iPhones sold in Europe......

Micron gets rare ‘underweight’ rating as PC demand slows

Reuters
Micron GDDR6X graphics memory solution is pictured in this April 12, 2022 handout image. Micron Technology/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY Register now for FREE unlimited access to Reuters.com Register June 3 (Reuters) – Micron Technology’s stock (MU.O) received a rare “underweight” rating from......

Japan’s Panasonic sees global car output improving this business year

Reuters
June 1 (Reuters) – Panasonic Holdings Corp (6752.T), which makes batteries for Tesla and other automakers, said on Wednesday it expected global car production to recover this fiscal year, but predicted that the two-year long chip shortage would continue. “We will be running our business as we consider risks of......

How a cheap component could help kill off combustion cars

Reuters
LONDON/BERLIN, May 30 (Reuters) – The humble wire harness, a cheap component that bundles cables together, has become an unlikely scourge of the auto industry. Some predict it could hasten the downfall of combustion cars. Supplies of the auto part were choked by the war in Ukraine, which is home......

Samsung to invest $356 billion over five years in strategic sectors

Reuters
SEOUL, May 24 (Reuters) – Samsung Group will invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceutical and other next-generation technologies, Samsung Electronics (005930.KS) said. South Korea’s top conglomerate said on Tuesday the investments through 2026 are expected to help Samsung drive......

Siemens Energy sees ‘need for action’ in turbine unit takeover plan

Reuters
MADRID, May 23 (Reuters) – Siemens Energy (ENR1n.DE) does not yet see signs of a recovery at wind turbine maker Siemens Gamesa (SGREN.MC), its chief executive said on Monday after launching a bid for minority holdings in the struggling unit. Siemens Energy announced the bid on Saturday after facing pressure......

Hyundai Motor Group to invest $5 billion in U.S. through 2025

Reuters
SEOUL, May 22 (Reuters) – Hyundai Motor Group said on Sunday it plans to invest an additional $5 billion in the United States through 2025 to strengthen its collaboration with U.S. firms in diverse technologies, such as robotics, urban air mobility, autonomous driving and artificial intelligence. Hyundai Motor Group, which......

Computer chip giant ASML places big bets on a tiny future

Reuters
VELDHOVEN, Netherlands, May 20 (Reuters) – ASML (ASML.AS), a semiconductor industry and stock market giant, has to think smaller. Or maybe bigger. It is building machines the size of double-decker buses, weighing over 200 tonnes, in its quest to produce beams of focused light that create the microscopic circuitry on......

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