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May 23, 2022

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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......

Wall Street ends mixed, Tesla falls

Reuters
A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 19, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Ross Stores plunges after cutting 2022 forecast May 20 (Reuters) – Wall Street ended mixed on......

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......

Deere’s supply chain issues hit revenue, shares plunge

Reuters
Equipment for sale is seen at a John Deere dealer in Denver, Colorado, U.S. May 14, 2015. REUTERS/Rick Wilking/File Photo Register now for FREE unlimited access to Reuters.com Register May 20 (Reuters) – Deere & Co (DE.N) on Friday missed Wall Street revenue targets and said it was having difficulty......

Biden arrives in S.Korea with first stop at Samsung

Reuters
OSAN AIR BASE, South Korea, May 20 (Reuters) – President Joe Biden arrived in South Korea on Friday, the first stop on his first trip to Asia as president, where his attempts to counter China’s influence and build economic ties are likely to be overshadowed by North Korean threats. Biden......

IMF urges Asia to be mindful of spillover risks from tightening

Reuters
Global tide of tightening comes faster than expected -IMF Widening gap in interest rates behind yen weakness Echoes view on balance yen depreciation helps Japan TOKYO, May 20 (Reuters) – Asian economies must be mindful of spillover risks as a decade of unconventional easing policies by major central banks is......

Exclusive: China in talks with automakers on EV subsidy extension

Reuters
SHANGHAI, May 18 (Reuters) – China is in talks with automakers about extending costly subsidies for electric vehicles (EV) that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows, three people familiar with the matter said. The move by policymakers comes......

Renault sells Russia’s Avtovaz stake, but leaves room for return

Reuters
Renault sells Avtovaz stake reportedly for one rouble Leaves door open for return with six-year buyback option Moscow plant to resurrect Soviet-era Moskvich brand May 16 (Reuters) – Renault (RENA.PA) is to sell its majority stake in carmaker Avtovaz (AVAZI_p.MM) to a Russian science institute reportedly for just one rouble......

Crypto world stabilizes, bitcoin rallies after stablecoin slide

Reuters
Bitcoin hits intra-day high above $30,000 TerraUSD collapse shakes crypto market Analysts say impact on traditional markets limited HONG KONG/LONDON/NEW YORK, May 13 (Reuters) – Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called......

Italy’s Prysmian navigates supply issues to 35% quarterly profit rise

Reuters
Adj. EBITDA +35% in Q1 to 288 mln euros, tops estimates Result includes positive forex impact of 15 mln euros Has guided for FY adj. EBITDA between 1.01-1.08 bln euros Free cashflow seen around 400 mln euros this year MILAN, May 12 (Reuters) – Prysmian (PRY.MI) said on Thursday it......

Chinese jet aborts takeoff, catches fire, causing minor injuries from evacuation

Reuters
Rescue workers are seen at the site where an Airbus A319 plane of Tibet Airlines caught fire after an aborted takeoff, at Chongqing Jiangbei International Airport in Chongqing, China May 12, 2022. cnsphoto via REUTERS Register now for FREE unlimited access to Reuters.com Register BEIJING, May 12 (Reuters) – China’s......

U.S. House Democrats seek new environmental review of postal delivery contract

Reuters
WASHINGTON, May 11 (Reuters) – A U.S. House of Representatives committee on Wednesday will consider a bill that seeks to invalidate a U.S. Postal Service (USPS) environmental review conducted as part of its deal to buy 50,000 next-generation delivery vehicles. House Oversight and Reform chair Carolyn Maloney is introducing legislation......

Musk says he would reverse Twitter ban on Donald Trump

Reuters
May 10 (Reuters) – Billionaire Elon Musk said Tuesday he would reverse Twitter’s ban on former U.S. President Donald Trump when he buys the social media platform, the clearest signal of Musk’s intention to cut moderation of the site. Musk, the world’s richest person and chief executive of Tesla Inc,......

Kicking the China habit: South Korea hunts tungsten treasure

Reuters
S.Korean tungsten mine gets $100 million makeover Dozens of new mineral projects launched globally Green, digital booms fuel demand for rare minerals China is pre-eminent in critical minerals supply GRAPHIC-S.Korea’s reliance on China: SANGDONG, South Korea, May 9 (Reuters) – Blue tungsten winking from the walls of abandoned mine shafts,......

Biden touts manufacturing, union jobs in battleground Ohio

Reuters
HAMILTON, Ohio May 6 (Reuters) – President Joe Biden boasted on Friday of a U.S. manufacturing surge and introduced a new small business program in the key swing state of Ohio during his sixth visit there as president Biden was buoyed by strong numbers earlier in the day that showed......

Chile’s economic activity index bolstered by increase in services

Reuters
SANTIAGO, May 2 (Reuters) – Chile’s IMACEC economic activity index, a close proxy of gross domestic product (GDP), rose 7.2% in March from the same month last year, the country’s central bank said on Monday. That was above market expectations of a 6.3% rise, according to a Reuters poll of......

Caterpillar sees China excavator demand falling below pre-pandemic levels

Reuters
Caterpillar logo is pictured at the ‘Bauma’ Trade Fair for Construction Machinery, Building Material Machines, Mining Machines, Construction Vehicles and Construction Equipment in Munich, Germany, April 8, 2019. REUTERS/Michaela Rehle/File Photo Register now for FREE unlimited access to Reuters.com Register April 28 (Reuters) – Caterpillar Inc (CAT.N) on Thursday warned......

Samsung Elec sees component shortages persisting in H2, solid server chip demand

Reuters
Reports record quarterly server chip sales in Q1 Smartphone market to continue to grow in H2 To increase portion of cutting-edge chip products SEOUL, April 28 (Reuters) – Samsung Electronics Co Ltd (005930.KS) said on Thursday it expects firm data centre demand for high-margin memory chips to continue in the......

IAEA says Russia’s Chornobyl occupation was very dangerous

Reuters
A destroyed car marked with the letter ”V” is seen near the New Safe Confinement (NSC) structure over the old sarcophagus covering the damaged fourth reactor at the Chornobyl Nuclear Power Plant, in Chornobyl, Ukraine April 16, 2022. REUTERS/Gleb Garanich Register now for FREE unlimited access to Reuters.com Register KYIV,......

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