SEOUL, (Reuters) – Hyundai Motor Group Executive Chair Euisun Chung will travel to Washington on Wednesday to support South Korea’s push for a trade deal with the United States, the Yonhap news agency reported. Other South Korean business leaders have also visited the United States. Samsung Electronics Chairman Jay Y. Lee left for Washington on Tuesday while the vice chairman of Hanwha Group was … [Read more...]

TOKYO, (Reuters) – Toyota on Wednesday its worldwide output and sales reached record highs for the first six months of the year, fuelled by strong demand in markets including North America, Japan and China. The world’s biggest automaker’s global sales for January-June grew 5.5% year-on-year to more than 5.1 million vehicles, supported by demand for hybrid vehicles, which accounted for about 43% of … [Read more...]

Summary LGES to provide Tesla with LFP batteries for energy storage systems from US factory -source Tesla has been looking to reduce reliance on Chinese suppliers due to US tariffs LGES says supply contract to last from August 2027 to July 2030 SEOUL, (Reuters) – South Korea’s LG Energy Solution (LGES) has signed a $4.3 billion deal to supply Tesla with energy storage system batteries, said a … [Read more...]

(Reuters) – Global paint supplier PPG Industries missed Wall Street expectations for second-quarter profit on Tuesday, hurt by the impact of recent business divestitures and softer demand in key markets. Last year, PPG sold both its architectural coatings business in the United States and Canada to American Industrial Partners for about $550 million and its silica business to QEMETICA for $310 … [Read more...]

Summary 1.5 billion euro tariff hit at top end of earlier guidance New CEO Filosa aims to restore growth after US market struggles Shares pared early losses after Filosa’s call with analysts MILAN, (Reuters) – Stellantis warned on Tuesday of a 1.5-billion-euro ($1.7 billion) hit from U.S. tariffs this year, but pledged new vehicle launches to reconnect with customers as its new CEO tries to get … [Read more...]

TOKYO, (Reuters) – Japanese automaker Nissan said on Wednesday that the company would stop production at its Civac plant in Mexico by March 2026 as part of its global restructuring plan. The embattled automaker would integrate vehicle production from its Civac plant to its Aguascalientes complex in Mexico during the current financial year, the company said in a statement. The announcement comes … [Read more...]

Source : PTI | State-owned NLC India Ltd is exploring possibilities to source rare earth element from overseas and the company has also begun preliminary talks for lithium blocks in Mali, West Africa and for copper and cobalt mines in the Republic of the Congo, its CMD Prasanna Kumar Motupalli said. The remarks came amid China’s recent curbs on exports of rare earth elements, impacting the global … [Read more...]

Source : PTI | State-owned NTPC Green Energy Limited has plans to set up renewable energy and battery energy storage projects (BESS) in Bihar, a move which will increase the company’s portfolio and presence in the clean energy space. The company has signed a Memorandum of Understanding (MoU) with Bihar State Power Generation Company Limited (BSPGCL) to take forward its plans. The MoU with BSPGCL … [Read more...]

Summary Deal lowers tariffs but still costly for carmakers German automotive industry faces billions in costs annually Volkswagen, BMW, Mercedes lead share fall BRUSSELS, (Reuters) – Europe’s carmakers, already battling stiff competition from Asia and a costly transition to electric cars, were dealing with another dose of reality on Monday – tariffs imposed by U.S. President Donald Trump. A deal … [Read more...]

(Reuters) – Harley-Davidson is in talks with Pacific Investment Management Co and KKR & Co. to sell a stake in its financing unit and existing motorcycle loan portfolio in a deal worth $5 billion, Bloomberg News reported on Monday. Shares of the company were up 1.9% in extended trade. Conversations are ongoing, and a deal may be announced within weeks, while details and size of it may change, … [Read more...]

Seoul, (Reuters) – Shares in Samsung Electronics came under pressure on Tuesday, following a powerful rally the previous day after the South Korean technology company clinched a $16.5 billion deal to supply artificial intelligence chips to Tesla. Analysts said the deal could bolster the technology company’s unprofitable contract manufacturing business, but Samsung faces challenges in securing … [Read more...]

(Reuters) – Alphabet’s Waymo said on Monday it will roll out its autonomous ride-hailing service in Dallas in 2026, accelerating its U.S. expansion as electric vehicle maker Tesla pushes to grow its recently launched robotaxi business. After years of cautious growth, Waymo has recently increased its pace, launching in new cities through partnerships with ride-hailing platforms and fleet … [Read more...]

Summary Deal includes $600 bln EU investments in US, more EU energy, defence purchases 15% tariff better than threatened 30%, in deal mirroring Japan’s EU says rate extends to cars, pharmaceuticals, semiconductors US steel and aluminium tariffs stay at 50%, but could fall later TURNBERRY, Scotland, (Reuters) – The U.S. struck a framework trade agreement with the European Union on Sunday, imposing … [Read more...]

Summary Euro rises against dollar, pound, yen after deal announcement S&P 500 e-minis up 0.3% Trade deal averts spiraling row between the two allies Deal includes 15% tariff on EU imports to US NEW YORK, (Reuters) – Investors appeared to embrace news of a trade deal between the U.S. and European Union on Sunday that is expected to bring clarity for companies and some certainty to markets … [Read more...]

Summary Samsung signs $16.5 billion chip supply deal, shares rise 3.5% Samsung struggles with AI chip competition, losing market share to TSMC SEOUL, (Reuters) – Tesla CEO Elon Musk said on Monday that the U.S. automaker has signed a deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant’s loss-making contract manufacturing business. On Saturday, … [Read more...]

Source : PTI | Exide Industries on Saturday said it is strategically poised to lead the future of energy storage through a dual-pronged focus on its conventional lead-acid battery business and the next-generation lithium-ion segment. Speaking at the company’s 78th Annual General Meeting, Exide Industries chairman Sridhar Gorthi said, “Despite the macroeconomic headwinds and a slowdown in capex … [Read more...]

WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said on Friday it has closed a 14-month investigation into a series of minor collisions and unexpected behavior from Alphabet’s Waymo self-driving vehicles without taking further action. The U.S. auto safety regulator in May 2024 opened an investigation after 22 reports about Waymo robotaxis exhibiting driving behavior that … [Read more...]

SHANGHAI, (Reuters) – Tech firms huge and small will converge in Shanghai this weekend to showcase their artificial intelligence innovations and support China’s booming AI sector as it faces U.S. sanctions. Chinese companies from heavy hitters Huawei and Alibaba to ambitious startups will dominate the two-day World AI Conference, but Western names like Tesla, Alphabet and Amazon will also … [Read more...]

(Reuters) – Tesla said on Friday it had received a number of shareholder proposals regarding the company’s plan to invest in CEO Elon Musk’s artificial intelligence startup xAI. Musk ruled out a merger between Tesla and xAI earlier in July, but said he planned to hold a shareholder vote on investment in the startup by the automaker. The proposals come amid significant funding activity for xAI this … [Read more...]

Summary 2025 margin seen in 4-5% range (5.5-6.5% previously) Tariffs cost Volkswagen 1.3 bln euros in H1 CEO says cuts must be accelerated Earnings dropped 29% in Q2 on tariffs, higher EV sales BERLIN, (Reuters) – Volkswagen reported a 1.3-billion-euro ($1.5-billion) first-half hit from tariffs and cut its full-year sales and profit margin forecasts in the German carmaker’s first assessment of … [Read more...]