By David Shepardson WASHINGTON (Reuters) -The U.S. Energy Department said Monday it is planning to loan up to $7.54 billion to a joint venture of Chrysler parent Stellantis and Samsung SDI to help build two electric vehicle lithium-ion battery plants in Indiana. The conditional commitment award must still be finalized and includes $6.85 billion in…
(Reuters) – Bumble said on Monday Anu Subramanian will step down as chief financial officer, effective March 14, 2025. Subramanian, who joined the dating app operator as CFO in 2020, played a key role in the company’s initial public offering in 2021. Bumble has begun searching for Subramanian’s successor. Shares of the company fell 1.7%…
STOCKHOLM (Reuters) -An unidentified drone flew over the Russian embassy in Stockholm early on Friday, dropping paint on the grounds of the diplomatic compound, Swedish police said. No arrests have been made and no suspects identified, a police spokesperson added. “We insist that all incidents against the Russian embassy be thoroughly and impartially investigated and…
(Reuters) – European and American carmakers are set to lose up to 17% of their combined annual core profits if the U.S. imposes import tariffs on Europe, Mexico and Canada, S&P Global said in a report on Friday, warning of potential credit downgrades. Premium automakers Volvo and Jaguar Land Rover, who mostly produce in Europe,…
By Siddharth Cavale and Ananya Mariam Rajesh (Reuters) CHICAGO/NEW YORK/NORTH BERGEN, N.J. -Taylor Swift fans and their parents lined up outside some of Target’s nearly 2,000 U.S. stores early on Black Friday to buy copies of her new Eras Tour book. Hoping to buck a long stretch of slowing sales at Target stores – with…
By Lewis Krauskopf NEW YORK (Reuters) – The coming week will give investors a fresh view into the health of the U.S. economy with the release of a closely watched employment report that could help determine the trajectory of interest rates in the months ahead. Stocks are heading into December with the benchmark S&P 500…
(Reuters) -BlackRock, State Street and Vanguard have been sued by Texas and 10 other Republican-led states, which said the large asset managers violated antitrust law through climate activism that resulted in reduced coal production and higher energy prices. Wednesday’s complaint filed in the federal court in Tyler, Texas, is among the highest profile lawsuits targeting…
MILAN (Reuters) -Stellantis will again halt auto production at its historic Italian Mirafiori plant from Dec. 2 to Jan. 5 due to continuing poor sales for the electric Fiat 500 city car made there, the automaker said on Wednesday. Reuters had reported earlier this month that trade unions were expecting another production stoppage at the…
By Ron Bousso and Robert Harvey LONDON -U.S. oil and gas producers are unlikely to radically increase production under president-elect Donald Trump as companies remain focused on capital discipline, a senior executive at Exxon Mobil said on Tuesday. “We’re not going to see anybody in ‘drill, baby, drill’ mode,” Liam Mallon, head of Exxon’s upstream…
HANOI (Reuters) – Vietnamese electric vehicle (EV) manufacturer VinFast on Tuesday reported a smaller $550 million net loss for the third quarter compared with a year earlier, helped by lower costs for materials and ramped-up production volumes. The Haiphong, Vietnam-based company delivered 44,773 cars in the first nine months of 2024, more than 55% of…
