JPMorgan boss Jamie Dimon warned on Monday that the bank could lose about $1 billion on its Russia exposure, the first time it has detailed the extent of its potential losses resulting from the conflict in Ukraine. In his keenly watched annual letter to shareholders, the chairman and chief executive of the biggest U.S. bank […]
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Pandemic-related supply chain problems slowed the rollout of new wind power in 2021, as the sector lags far behind the capacity needed to curb greenhouse gas emissions and meet net zero emission targets, an industry report said on Monday. The Global Wind Energy Council (GWEC) report comes ahead of a U.N. report to be published […]
European shares rose slightly after early sluggishness on Friday, as a rally in bank stocks helped outweigh worries about economic growth and inflation, with Europe facing a deadline to start paying for Russian gas in roubles.Russian President Vladimir Putin threatened to cut off gas supplies unless paid in local currency from April 1 — a […]
French agribusiness group InVivo has entered exclusive negotiations to merge its retail activities with 2MX Organic, an acquisition vehicle backed by French telecoms billionaire Xavier Niel, the companies said on Thursday. The planned deal is based on a 675 million euro ($748 million) enterprise value for InVivo Retail, they said. The business would become a […]
Apple Inc is exploring new suppliers for memory chips used in its iPhones, including a potentially first Chinese supplier, after a key Japanese partner had an output disruption, Bloomberg News reported on Wednesday, citing sources. Japan-based Kioxia Holdings Corp — a key supplier of flash memory chips to Apple — had reported a contamination last […]
Global restrictions on exports to Russia in response to its invasion of Ukraine have shut down a car maker, halted work on tanks and cut a Russian computer maker’s access to circuits used in communications equipment, a U.S. official said on Wednesday. “Thirty-three countries have joined together with one export controls strategy,” said Thea Kendler, […]
As Tesla kicks off production at its new German plant this month, Volkswagen is weeks away from finalizing plans for a 2 billion euro ($2.2 billion) electric vehicle (EV) factory that it hopes will bring it up to speed with its U.S. rival. Tesla says it can already churn out a Model Y in 10 […]
U.S. pressure on Huawei Technologies has served to strengthen the resolve of the Chinese telecoms giant, finance chief Meng Wanzhou said on Monday after its first set of results since her return from nearly three years’ detention in Canada. The daughter of Huawei founder Ren Zhengfei played a central role in the company’s tussle with […]
The U.S. National Highway Traffic Safety Administration (NHTSA) on Sunday reinstated a sharp increase in penalties for automakers whose vehicles do not meet fuel efficiency requirements for model years 2019 and beyond. The decision was a win for Tesla that could cost other automakers hundreds of millions of dollars or more. Confirming an earlier report […]
Uber Technologies Inc said on Saturday it has received permission to operate in London under a new 30-month license, ending a years-long battle with the city transport regulator over safety concerns. “Uber has been granted a London private hire vehicle operator’s license for a period of two and a half years,” a spokesperson for Transport […]