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Automakers say US Senate bill will jeopardize 2030 EV targets

FILE PHOTO – Volkswagen employees stand next to Volkswagen electric cars during a ceremony at German carmaker Volkswagen’s first battery cell production plant ‘SalzGiga’ in Salzgitter, Germany, July 7, 2022. REUTERS/Fabrizio Bensch Register now for FREE unlimited access to Reuters.com register WASHINGTON, Aug 7 (Reuters) – A group representing General Motors (GM.N), Toyota Motor (7203.T), …

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US automakers say 70% of EV models would not qualify for tax credit under Senate bill

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, US, March 16, 2021. REUTERS/Rebecca Cook Register now for FREE unlimited access to Reuters.com register WASHINGTON, Aug 5 (Reuters) – Most electric-vehicle models would be ineligible for a $7,500 tax credit for US buyers under a Democratic proposal …

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Exclusive: Airbus axes remaining A350 jet deal with Qatar – sources

PARIS, Aug 3 (Reuters) – Airbus (AIR.PA) has revoked its entire outstanding order from Qatar Airways for A350 jets, severing all new jetliner business with the Gulf carrier in a dramatic new twist to a dispute clouding World Cup preparations, two industry sources said. No comment was immediately available from Airbus or Qatar Airways. The …

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As US eyes new China chip curbs, turmoil looms for global market

Any US export block may affect global chip supply -analysts Move would hinder Samsung, SK Hynix upgrading China plants Samsung, SK Hynix together supply over 50% of global NAND chips Curbs could change where future chip plants are built -analyst SEOUL, Aug 3 (Reuters) – Export restrictions being considered by Washington to halt China’s advances …

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EXCLUSIVE Luxembourg banks told to freeze Ecuador assets amid Perenco dispute, documents show

Bailiff orders 122 banking entities operating in Luxembourg to freeze Ecuador assets Ecuador issued Luxembourg-listed bonds in 2020 debt overhaul Some bondholders have received interest payments due July 31 LONDON, Aug 1 (Reuters) – A Luxembourg bailiff has ordered banks to freeze assets held by Ecuador in Luxembourg accounts as a result of a dispute …

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Merck avoided billions in US tax by offshoring Keytruda profits – senator

July 27 (Reuters) – Drugmaker Merck & Co (MRK.N) avoided billions of dollars of US taxes in recent years on its top-selling cancer drug Keytruda by booking all the profits from the treatment outside of the United States, according to an ongoing investigation by Democrats on the Senate Finance Committee. The committee’s chairman Senator Ron …

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BASF readies more ammonia production cuts in gas supply crunch

A general view of the German chemical company, BASF Schwarzheide GmbH in Schwarzheide, Germany, December 10, 2019. REUTERS/Annegret Hilse Register now for FREE unlimited access to Reuters.com register BASF cut ammonia output in Sept, now reducing it further Yara’s ammonia output across Europe is 27% below capacity SKW, Ineos say monitoring situation closely FRANKFURT, July …

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Boeing, Airbus secure Farnborough orders as sector stabilises

FARNBOROUGH, England, July 20 (Reuters) – Boeing has been cranking out order announcements at this week’s Farnborough Airshow, restoring momentum to its troubled 737 MAX, while rival Airbus on Wednesday added to its A320neo order book. Boeing has secured over 100 firm orders for the MAX as it still faces big challenges to certify a …

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How China became ground zero for the auto chip shortage

TAIPEI/SHANGHAI/SINGAPORE, July 19 (Reuters) – From his small office in Singapore, Kelvin Pang is ready to wager a $23 million payday that the worst of the chip shortage is not over for automakers – at least in China. Pang has bought 62,000 microcontrollers, chips that help control a range of functions from car engines and …

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Boeing aims to ignite Farnborough Airshow under record heat

An aerial view of a Boeing 737 MAX 10 airplane parked at King County International Airport-Boeing Field in Seattle, Washington, US, June 1, 2022. REUTERS/Lindsey Wasson Register now for FREE unlimited access to Reuters.com register Delta to announce deal for 100 Boeing 737 MAX 10 – sources Lufthansa to firm up deal for 10 Boeing …

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