By Hyunjoo Jin San Francisco (Reuters) – Tesla Inc’s new car factories in Texas and Berlin are “losing billions of dollars” as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said…
Explainer-Why is there a worldwide oil-refining crunch?
By Laura Sanicola (Reuters) – Drivers around the world are feeling pain at the pump with fuel prices soaring, and costs are surging for heating buildings, power generation and industrial production. Prices were already elevated before Russia invaded Uk…
Russian momentum in Ukraine could slow for lack of resources – British PM
BERLIN (Reuters) – Britain’s defence intelligence service believes that Russia’s momentum in the war in Ukraine will slow in the next few months as its army exhausts its resources, British Prime Minister Boris Johnson told a group of European newspaper…
JPMorgan starts cutting jobs in mortgage unit as homebuying demand cools
(Reuters) -JPMorgan Chase & Co said on Wednesday it had started laying off employees in its mortgage business, as elevated inflation and rising mortgage rates slow the housing boom in the United States. More than 1,000 employees will be affected and ab…
Italian government picks Fastweb, Aruba to set up country’s cloud hub
MILAN (Reuters) – The Italian government has chosen the offer of Internet operator Fastweb and web hosting provider Aruba to create a cloud-based infrastructure for the country’s public administration data. The infrastructure, called the National Strat…
Nigerian Senate to probe Shell over alleged illegal oil lease renewals
ABUJA (Reuters) -Nigeria’s Senate said on Wednesday it will investigate oil company Shell Plc over alleged illegal extensions of oil exploration leases and is seeking a refund of $200 million which it said accrued over the period. The upper house of pa…
Volvo, DAF Trucks can be sued in Spanish cartel case, EU court says
By Foo Yun Chee BRUSSELS (Reuters) – Swedish truckmaker Volvo and Paccar’s DAF Trucks can be sued for compensation by a Spanish claimant over a truckmakers’ cartel, Europe’s top court said on Wednesday, in a ruling that could spur more claims against t…
UK’s Boris Johnson to meet Prince Charles in Rwanda amid asylum seekers’ deportation row
LONDON (Reuters) – British Prime Minister Boris Johnson will meet with heir to the throne Prince Charles in Rwanda on Friday while both are attending a meeting of Commonwealth leaders, Johnson’s spokesman said. Earlier this month two British newspapers…
Stellantis workers block Belgrade highway over layoff plans
(Fixes typo in paragraph 2 and dropped word ‘the’ in last paragraph) BELGRADE (Reuters) – Workers from automaker Stellantis’ Serbian plant blocked the main highway in the capital Belgrade on Wednesday to protest planned layoffs as part of a switch to p…
Bulgarian government loses no-confidence vote, early elections loom
By Tsvetelia Tsolova SOFIA (Reuters) -A no-confidence vote on Wednesday toppled Bulgaria’s government and Prime Minister Kiril Petkov, who had pledged to tackle corruption and took an unusually strong stance against Russia. Opposition lawmakers brought…