Newsletter
Construction costs for electric vehicles can hardly be reduced
The cost of building a battery-powered truck will "forever" be higher than that of a vehicle with an internal combustion engine, the boss of the world's largest truck manufacturer Daimler has warned, as the war in Ukraine is accelerating the already rapid rise …
Germany wants to free itself from dependence on Russian gas by 2024
Germany presented goals to rapidly reduce dependence on Russian energy and the US unveiled plans to divert gas to Europe, while Western allies stepped up efforts to reshape global energy markets and lock Moscow in for the Ukraine war punish. Berlin vowed to …
Apple buys British fintech start-up Credit Kudos
Apple has acquired UK-based fintech start-up Credit Kudos, signaling another foray into payments technology by the iPhone maker.
Alibaba plans to buy back shares worth up to $25 billion
Alibaba Group Holding Ltd. BABA 11.00% has increased its share buyback program to $25 billion from $15 billion to reassure investors of the company's prospects after a year in which the stock has fallen by more than half. The potential buybacks are sizeable …
Powell: Fed wants to fight inflation fast
Federal Reserve Chairman Jerome Powell said the central bank stands ready to raise interest rates in half-a-percentage-point increments, high enough to intentionally slow the economy if it concludes that such moves to cut it of inflation are justified.
Saudi Aramco increases spending on oil exploration
Saudi Aramco has announced it will increase spending on oil production to meet rising energy demand, while chief executive Amin Nasser has slammed "completely unrealistic" plans for the world to quickly move away from fossil fuels.
Chip sanctions challenge Russia's tech ambitions
An international technology blockade threatens to deprive Russia of advanced semiconductors needed to power modern weapons and cutting-edge technologies like 5G, artificial intelligence and robotics, experts say. In late February, the US banned the sale of …
Amazon: Antitrust lawsuit dismissed over pricing
Amazon.com Inc. on Friday won the dismissal of a District of Columbia antitrust lawsuit alleging that the company harms consumers by preventing sellers in its marketplace from making better deals elsewhere.
Amazon finalizes deal to acquire MGM
Amazon.com Inc. completed its $6.5 billion acquisition of film and television studio MGM on Thursday, despite continued scrutiny by the Federal Trade Commission (FTC). The move came after Amazon certified to the FTC that it had provided all the information …
The Fed is raising interest rates for the first time since 2018
Federal Reserve officials on Wednesday voted to raise interest rates and promised six more hikes by the end of the year - the most aggressive pace in more than 15 years - to rein in inflation, which is at its highest level in four decades. The Fed will hike …