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EV Maker Polestar’s Q4 Loss Narrows, Won’t Engage in Price Wars

reuters | March 2, 2023

By Marie Mannes (Reuters) – Electric vehicle (EV) maker Polestar on Thursday posted a smaller quarterly loss, maintained its 2023 production outlook and said it would not engage in price wars while weakening demand has forced some rivals to scale back output. This year is proving to be a tough one for EV makers, as […]

Lockheed’s HIMARS Plant Gearing Up to Meet Demand After Ukraine Success

reuters | February 28, 2023

By Mike Stone CAMDEN, Arkansas (Reuters) – Lockheed Martin’s mobile rocket launcher plant in Camden, Arkansas is gearing up to boost production of the HIMARS system after its success on the battlefield in Ukraine drove up demand from other nations, executives said on Monday. The High Mobility Artillery Rocket System (HIMARS) is now a widely […]

Yellen says EV battery mineral trade pacts can likely bypass Congress

reuters | February 24, 2023

By David Lawder BENGALURU (Reuters) – U.S. Treasury Secretary Yellen said on Friday that she expects that future limited free trade agreements focused on battery minerals with the European Union and other trusted allies would not need approval from Congress. Yellen told reporters on the sidelines of a G20 finance meeting in India that such […]

Stocks, crude oil advances despite higher interest rate expectations

reuters | February 23, 2023

By Chibuike Oguh NEW YORK (Reuters) -Global equities and crude oil rebounded from earlier losses on Thursday even as economic data continued to show the strength of the U.S. economy and validated the Federal Reserve’s tight monetary policy stance. A U.S. Labor Department report on Thursday showed that new claims for unemployment benefits unexpectedly fell […]

Oil drops 3% as high inflation risks stoke demand worries

reuters | February 22, 2023

By Shariq Khan BENGALURU (Reuters) – Oil prices fell by $2 per barrel to their lowest in two weeks on Wednesday, as investors became more concerned that recent data will prompt more aggressive interest rate increases by central banks, pressuring economic growth and fuel demand. Brent crude futures settled $2.45, or 3%, lower at $80.60 […]

EU calls for fast-track crypto capital rules for banks

reuters | February 20, 2023

By Huw Jones LONDON (Reuters) – Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc’s executive has said. The global Basel Committee of banking regulators from the world’s main financial centers has set a January 2025 […]

Oil settles down $2/bbl, ends week lower on Fed worries, ample supply

reuters | February 18, 2023

By Laura Sanicola (Reuters) -Oil settled down $2 a barrel on Friday and ended the week markedly lower, as traders worried that future U.S. interest rate hikes could weigh on demand and got nervous about mounting signs of ample crude and fuel supply. On Thursday, two Fed officials warned additional hikes in borrowing costs are […]

Binance stablecoin backer says U.S. SEC has labeled token an unregistered security

reuters | February 14, 2023

By Hannah Lang, Tom Wilson and Elizabeth Howcroft WASHINGTON/LONDON (Reuters) – The firm behind Binance’s stablecoin, Paxos Trust Company, said the U.S. Securities and Exchange Commission (SEC) has told the company it should have registered the product as a security and is considering taking action against the platform. In a statement on Monday, Paxos said […]

Alphabet shares dive after Google AI chatbot Bard flubs answer in ad

reuters | February 9, 2023

By Martin Coulter and Greg Bensinger LONDON (Reuters) – Alphabet Inc lost $100 billion in market value on Wednesday after its new chatbot shared inaccurate information in a promotional video and a company event failed to dazzle, feeding worries that the Google parent is losing ground to rival Microsoft Corp. Alphabet shares slid as much […]

Ukraine’s parliament amends 2023 budget, raises spending

reuters | February 7, 2023

KYIV (Reuters) – Ukraine’s parliament approved changes to the 2023 state budget on Tuesday, raising state spending to support small businesses and channel more funds into reconstruction and recovery projects following Russia’s invasion. Roksolana Pidlasa, the head of the parliamentary budget committee, said spending had been increased by 5.5 billion hryvnias ($150 million). The increase […]