INDS08

Toyota cuts output target amid chip crunch as profit tumbles 25%

Toyota cuts output target amid chip crunch as profit tumbles 25%

Q2 profit 562.7 billion yen vs. 772.2 billion yen forecast Cuts FY production target to 9.2 million units from 9.7 million Unclear when the chip shortage will end – executive Results ‘very unimpressive’ considering positive factors -analyst Shares end down 1.9%, Nikkei benchmark up 0.3% TOKYO, Nov 1 (Reuters) – Toyota Motor Corp (7203.T) on …

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Exclusive: Tesla faces US criminal probe over self-driving claims

Exclusive: Tesla faces US criminal probe over self-driving claims

Oct 25 – Tesla Inc (TSLA.O) is under criminal investigation in the United States over claims that the company’s electric vehicles can drive themselves, three people familiar with the matter said. The US Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla’s …

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In 'unprecedented' global chip slump, SK Hynix to halve investment as recession looms

In ‘unprecedented’ global chip slump, SK Hynix to halve investment as recession looms

Investment cut comparable to 2008-09 financial crisis Q3 profit plunges 60%, misses estimates Inflation, gloomy economic outlook weigh on demand SEOUL, Oct 26 (Reuters) – South Korea’s SK Hynix Inc (000660.KS) warned on Wednesday of an “unprecedented deterioration” in memory chip demand, deepening fears of global recession, and said it would slash investment after quarterly …

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Equities close lower as rise in yields overshadows earnings

Equities close lower as rise in yields overshadows earnings

US 10-year Treasury yield hits highest since July 2008 Netflix jumps after reversing customer losses Procter & Gamble, Travelers post upbeat earnings PHLX Housing Index falls on weak US housing data Dow down 0.33%, S&P 500 down 0.67%, Nasdaq down 0.85% NEW YORK, Oct 19 (Reuters) – US stocks snapped a two-day streak of gains …

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Biden awards $2.8 billion to boost US minerals output for EV batteries

Biden awards $2.8 billion to boost US minerals output for EV batteries

WASHINGTON, Oct 19 (Reuters) – The Biden administration said on Wednesday it is awarding $2.8 billion in grants to boost US production of electric vehicle batteries and the minerals used to build them, part of a bid to wean the country off supplies from China. Albemarle Corp (ALB.N) is among the 20 manufacturing and processing …

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Dozens of LNG-laden ships queue off Europe's coasts unable to unload

Dozens of LNG-laden ships queue off Europe’s coasts unable to unload

LONDON/MADRID, Oct 17 (Reuters) – Dozens of ships carrying liquefied natural gas (LNG) circling off the coasts of Spain unable to secure slots to unload have prompted grid operators for the country to warn they may have to suspend loading to deal with this “exceptional situation”. Europe is facing an energy supply squeeze as Russia …

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More US companies charging employees for job training if they quit

More US companies charging employees for job training if they quit

WASHINGTON, Oct 17 (Reuters) – When a Washington state beauty salon charged Simran Bal $1,900 for training after she quit, she was shocked. Not only was Bal a licensed esthetician with no need for instruction, she argued that the trainings were specific to the shop and low quality. Bal’s story mirrors that of dozens of …

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China's factory, services surveys suggest economy struggling to rebound

China’s factory, services surveys suggest economy struggling to rebound

China September official manufacturing PMI above forecast Private survey shows factory activity contracted sharply Services sector activity growth slowed in September – official survey COVID curbs, softening foreign demand, property weakness weigh BEIJING, Sept 30 (Reuters) – China’s factory activity showed growth in September, but a slowdown in services sector growth and a downbeat private …

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Cryptoverse: Bitcoin miners get stuck in a bear pit

Cryptoverse: Bitcoin miners get stuck in a bear pit

A bitcoin representation is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier Register now for FREE unlimited access to Reuters.com Register Sept 27 (Reuters) – Spare a thought for the beleaguered bitcoin miner. In late 2021, miners were the toast of the town with …

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NASA's DART spacecraft hits target asteroid in first planetary defense test

NASA’s DART spacecraft hits target asteroid in first planetary defense test

Sept 26 (Reuters) – NASA’s DART spacecraft successfully slammed into a distant asteroid at hypersonic speed on Monday in the world’s first test of a planetary defense system, designed to prevent a potential doomsday meteorite collision with Earth. Humanity’s first attempt to alter the motion of an asteroid or any celestial body played out in …

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