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

Inside China’s electric drive for swappable car batteries

DETROIT/BEIJING, March 25 (Reuters) – A year ago Tesla dismissed the alternative path of electric car battery swapping as “riddled with problems and not suitable for widescale use”. It seems Beijing disagrees. In fact, China is pushing hard for swappable batteries for electric vehicles (EVs) as a supplement to regular vehicle charging, with the government … Read more

Tesla, Lucid supplier LGES plans to build $1.4 bln battery factory in Arizona

An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, November 23, 2021. REUTERS/Kim Hong-Ji/File Photo Register now for FREE unlimited access to Reuters.com Register SAN FRANCISCO/SEOUL, March 23 (Reuters) – LG Energy Solution (373220.KS) (LGES), a supplier for electric car makers Tesla and Lucid, said on … Read more

Buffett ends drought with $11.6 billion Alleghany insurance purchase

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, US, May 4, 2019. REUTERS/Scott Morgan Register now for FREE unlimited access to Reuters.com Register NEW YORK, March 21 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc … Read more

Amazon slams Reliance takeover of Future stores as ‘fraud’ in India newspaper ads

NEW DELHI, March 15 (Reuters) – Amazon.com Inc has gone on the attack in its bitter dispute with two Indian retailers, accusing them of fraud in Indian newspaper ads on Tuesday after Reliance Industries (RELI.NS) suddenly took over many of Future Retail (FRTL.NS) stores. Amazon has been contesting the planned $3.4 billion sale of Future … 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

Food prices jump 20.7% yr/yr to hit record high in Feb, UN agency says

Customers walk past a fruit stall at a street market, in Mexico City, Mexico December 17, 2021. REUTERS/Luis Cortes/File Photo Register now for FREE unlimited access to Reuters.com Register ROME, March 4 (Reuters) – (This March 4 story corrects to replace year-on-year pct change in headline and first paragraph to 20.7% from 24.1% after FAO … Read more

The world’s leading luxury brands suspend business in Russia

French group Hermes has three stores in Moscow Hermes ‘deeply concerned about situation in Europe’ Russians spend $9 bln/year on luxury goods -Jefferies PARIS, March 4 (Reuters) – The world’s leading luxury brands said on Friday that they planned to temporarily close stores and pause business operations in Russia. Birkin bag maker Hermes and Cartier … Read more

Financial screws turned on Russia as insurers exit, London stocks halted

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville Register now for FREE unlimited access to Reuters.com Register LSE halts trading in Russia-related GDRs Trade insurer withdraws from Russian risk Investors continue selling Russian assets Deutsche Bank testing Russia tech center LONDON, March 4 (Reuters) … Read more

Nike, IKEA close Russian stores as sanctions, trade restrictions bite

March 3 (Reuters) – Sneaker maker Nike and home furnishings firm IKEA shut down stores in Russia on Thursday, as trade restrictions and supply constraints added to political pressure for companies to stop business in Russia because of its invasion of Ukraine. French bank Societe Generale (SOGN.PA) said it was working to cut its risks … Read more