WHO suspends UN supply of Bharat Biotech’s Covaxin vaccine for COVID-19

April 2 (Reuters) – The World Health Organization said on Saturday it has suspended supply through United Nations agencies of COVID-19 vaccine Covaxin, produced by India’s Bharat Biotech, to allow the manufacturer to upgrade facilities and address deficiencies found in an inspection. The WHO asked countries that have received the vaccine to take appropriate actions, … Read more

Vietnam’s Vinfast to build $2 bln electric vehicle factory in US

HANOI/SAN FRANCISCO, March 29 (Reuters) – Vietnam’s automaker VinFast said on Tuesday it has signed a preliminary deal to initially invest $2 billion to build a factory in North Carolina to make electric buses, sport utility vehicles (SUVs) along with batteries for EVs . The unit of Vietnam’s biggest conglomerate Vingroup (VIC.HM), said it plans … Read more

Tesla rolls out first vehicles as German gigafactory goes live

BERLIN, March 22 (Reuters) – Tesla will on Tuesday deliver to customers the first 30 Model Y cars made at its 5 billion euro ($5.5 billion) Gruenheide plant, launching its first European production hub that is the biggest investment in a German car factory in recent history. Chief Executive Elon Musk arrived in Berlin on … Read more

Chinese tycoon’s ‘big short’ on nickel trips up Tsingshan’s miracle growth

Tsingshan faces losses from short position Chairman Xiang has been building short positions for a while LME suspended nickel trading last week Tsingshan’s business built on nickel productions in Indonesia March 14 (Reuters) – (This March 13 story corrects size of Morowali industrial park in paragraph 20, and to show production data is for whole … Read more

Musk says Tesla, SpaceX see significant inflation risks

SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, US, June 13, 2019. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register March 13 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk … Read more

Chelsea owner Abramovich and Rosneft boss Sechin sanctioned by UK

UK sanctions seven more oligarchs it links to Kremlin Group includes Chelsea owner Abramovich Chelsea sale put on hold, UK might sell club Trading suspended in Evraz shares LONDON, March 10 (Reuters) – Britain imposed sanctions on Chelsea soccer club owner Roman Abramovich and Igor Sechin, the chief executive of Russian oil giant Rosneft, hitting … Read more

Nestle, tobacco groups latest companies to pull back from Russia

March 9 (Reuters) – Nestle (NESN.S), Philip Morris (PM.N) and Imperial Brands (IMB.L) joined the list of multinationals stepping back from Russia on Wednesday as pressure mounts from consumers in the West to take a stand against the invasion of Ukraine. The world’s biggest packaged food group fell into line with rivals Procter & Gamble … Read more

LME cancels nickel trades after prices double to over $100,000

Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. REUTERS/Simon Dawson Register now for FREE unlimited access to Reuters.com Register LONDON, March 8 (Reuters) – The London Metal Exchange (LME) was forced to halt trading in nickel and said it would cancel trades as prices doubled to more … Read more

Carmakers face soaring metal costs with Russian supplies at risk

LONDON, March 8 (Reuters) – Saving up for a new ride? Better start putting more cash aside. Russia’s invasion of Ukraine is ramping up the price of metals used in cars, from aluminum in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, and drivers are likely to foot … Read more

LME nickel soars by a record 30% on Russia supply concerns

March 7 (Reuters) – London nickel prices soared as much as 30.7% on Monday, their biggest daily percentage gain on record, as supply disruption fears gripped markets amid an escalating Russia-Ukraine conflict and mounting sanctions against Moscow. Russia accounts for around 7% of global production of nickel, which is used to make stainless steel and … Read more