By Tim McLaughlin BOSTON, Aug 13 (Reuters) – Heron Power, a startup run by a former senior executive of EV maker Tesla, said on Thursday it plans to build a $100 million factory in California to make advanced transformers for the U.S. electric grid. Heron said it will convert a former 286,000 square
By Eduardo Baptista and Casey Hall BEIJING/SHANGHAI, Aug 13 (Reuters) – Microsoft once regarded the idea of quitting China as unthinkable. The year was 2010 and Google was about to exit due to concerns over censorship and cyberattacks. That decision was lauded by democracy activists, but not Bill Ga
By Che Pan and Eduardo Baptista BEIJING, Aug 13 (Reuters) – China’s largest contract chipmaker, Semiconductor Manufacturing International Corp , reported on Thursday second-quarter profit more than tripled from a year earlier, beating analyst estimates, as demand for AI-related chips remained robust
Aug 13 (Reuters) – Birkenstock raised its full-year sales growth forecast and beat quarterly revenue estimates on Thursday, banking on resilient full-price demand for its premium sandals from affluent shoppers, sending its shares up 7% premarket. Strong pricing power and brand loyalty have helped co
BEIJING, Aug 13 (Reuters) – Chinese autonomous driving firm WeRide is considering Australia, South Korea, Japan, and Southeast Asia as potential new markets for expansion, its chief executive said on Thursday. The expansion push comes as leading Chinese robotaxi firms race to establish overseas foot
BERLIN, Aug 13 (Reuters) – Hapag-Lloyd, one of the world’s top container shipping companies, said on Thursday that the conflict in the Middle East, with the closure of the Strait of Hormuz, cost the group $600 million in the second quarter, weighing on its earnings. Net profit came in at $83 million
By Rocky Swift and Junko Fujita TOKYO, Aug 13 (Reuters) – Joint Japanese-U.S. efforts to shore up the battered yen two weeks ago have heightened market bets the Bank of Japan will need to hike rates faster and further, raising the stakes for the currency at next month’s policy meeting. Co-ordinated
Texting friends, replying to a business email, tapping out some text for a social media post. We do a lot of writing on our smartphones, which are increasingly essential for our work and personal lives. But did you know about the many keyboard tips and tricks that can help raise your smartphone skil
By Stine Jacobsen COPENHAGEN, Aug 13 (Reuters) – Danish shipping group Maersk on Thursday smashed profit forecasts and raised its full-year earnings guidance for a second time this year as the Middle East conflict, port congestion and strong demand pushed freight rates higher. Maersk, a bellwether f
By Alexander Marrow LONDON, Aug 13 (Reuters) – Ice cream companies may be enjoying a summer sales boost from soaring temperatures, but behind the scenes they are preparing for a future where consumers want fewer reasons to feel guilty about treating themselves. The rise of appetite-suppressing GLP-1
SEOUL, Aug 13 (Reuters) – The operator of Starbucks Korea posted an operating loss in the second quarter as sales fell after backlash over a marketing campaign that evoked a brutal 1980 military crackdown on pro-democracy protesters, and the suspension of its flagship summer promotion. Here are some
NEW YORK (AP) — If you bought something from an overseas vendor last year, it might be time to check your bank account. Shippers including FedEx and UPS that acted as customs brokers for imported packages and received tariff refunds from the U.S. government have started to pass on those refunds to t
TOKYO (AP) — Global shares were mostly higher on Thursday, powered by gains for AI-related stocks including computer chips. France’s CAC 40 edged up 0.1% in early trading to 8,685.40, while the German DAX added 0.4% to 26,445.93. Britain’s FTSE 100 shed 0.4% to 10,791.07. U.S. shares were set to dri
A look at the day ahead in European and global markets from Satoshi Sugiyama For all the anticipation, Wednesday’s U.S. CPI data was largely in line with expectations, perhaps even a little anticlimactic. Coupled with softer-than-expected July nonfarm payrolls, it has dampened money-market bets on a
By Kevin Buckland TOKYO, Aug 13 (Reuters) – The dollar’s advance stalled on Thursday after an overall benign U.S. inflation reading overnight spurred traders to pare back bets for a near-term Federal Reserve interest rate hike. The greenback was little changed against the yen in Asia’s afternoon, bu
By Enes Tunagur LONDON, Aug 13 (Reuters) – Oil prices declined on Thursday as investors assessed prospects for weaker global demand this year and higher U.S. crude stocks, while prices found support from a lack of progress in talks over the blockaded Strait of Hormuz and disruptions to supply. Brent
By Satoshi Sugiyama TOKYO, Aug 13 (Reuters) – Asian stocks climbed on Thursday as tame U.S. inflation data cooled expectations of a Federal Reserve rate hike next month, while oil slipped as focus shifted to demand concerns from stalled U.S.-Iran peace efforts. MSCI’s broadest index of Asia-Pacific
Aug 13 (Reuters) – Australian stock exchange operator ASX posted a more than 5% rise in annual underlying profit on Thursday as global market volatility lifted trading activity, sending its shares towards their biggest daily gain since 2020. The stronger earnings come as ASX works to rebuild trust a
By Leika Kihara TOKYO, Aug 13 (Reuters) – Japan’s annual wholesale inflation remained elevated in July, data showed on Thursday, highlighting broadening price pressures and reinforcing market expectations of an interest rate hike in September. The data came in the wake of growing hawkish communicati
By Mike Scarcella WASHINGTON, Aug 12 (Reuters) – Law firm Motley Rice stands to earn $67.1 million in legal fees from New Mexico for representing the state after a judge ruled Meta Platforms fostered social media addiction and other harms on its platforms, according to a Reuters analysis of a state
RIO DE JANEIRO (AP) — Brazil’s Supreme Court on Wednesday dealt a major blow to the future of the country’s soy moratorium, upholding state laws that deny tax incentives to farmers who complied with the agreement barring the purchase of soy grown on deforested Amazon land. At the same time, the cour
By Scott Murdoch and Rajasik Mukherjee SYDNEY, Aug 13 (Reuters) – Australian lender ANZ Group said on Thursday home loan applications had slumped 12% since the Labor government scrapped lucrative property investment tax concessions, as the bank reported a A$1.9 billion ($1.3 billion) cash earnings f
Aug 13 (Reuters) – Australia’s Treasury Wine Estates swung to an annual loss on Thursday after writedowns in its U.S. business and said it expects 2027 earnings to be at least in line with the prior year, sending its shares lower in volatile trade. The Penfolds owner reported a statutory net loss at
By Amir Orusov Aug 13 (Reuters) – Global demand for electric vehicles rose for a fifth consecutive month in July, driven by robust growth in Europe while sales weakened in China and North America, data from consultancy Benchmark Mineral Intelligence showed on Thursday. Sales of battery-electric and
By Kiyoshi Takenaka TOKYO, Aug 13 (Reuters) – More than 80% of Japanese companies use artificial intelligence in only a limited capacity in their operations or not at all, a Reuters survey showed on Thursday, a trend that could hinder official efforts to boost productivity. About 60% of respondents
Latin music stars Marc Anthony, Luis Fonsi, Chayanne, Feid, Jay Wheeler and many more will perform at an international benefit concert livestreamed from Miami on Sunday to raise money for those impacted by devastating earthquakes in Venezuela and Colombia. Proceeds from online donations and ticket s
By Nora Eckert DETROIT, Aug 12 (Reuters) – Automaker Ford Motor plans to move production of some Lincoln models from China to the U.S. in 2030, Ford’s CEO told Reuters on Wednesday, adding the move was difficult but necessary to strengthen the U.S. auto manufacturing base. Gasoline-powered cars and
By Jamie McGeever ORLANDO, Florida, Aug 12 (Reuters) – Upbeat tech earnings pushed the Nasdaq, S&P 500 and MSCI All Country indices to within a whisker of their all-time highs on Wednesday, while stocks and bonds also welcomed U.S. inflation figures that appeared to reduce the chances of the Federal
By Kalea Hall DETROIT, Aug 12 (Reuters) – A factory jointly owned by General Motors and LG Energy Solution in northeast Ohio is scheduled to restart production of battery cells next week after a seven-month shutdown. On Monday, a majority of laid-off workers will resume making batteries at the Ultiu
By Rajesh Kumar Singh CHICAGO, Aug 12 (Reuters) – American Airlines is reorganizing senior management, broadening oversight across its commercial and operations teams and adding a former Spirit Airlines executive to run technical operations, as CEO Robert Isom faces pressure to close the carrier’s p
