MEXICO CITY (Reuters) – Chinese electric carmaker BYD unveiled on Wednesday its new plug-in Song Pro hybrid SUV in Mexico, the company’s local director announced on Wednesday, adding the vehicle’s local price tag will start at nearly 600,000 pesos, or about $31,000. The presentation marks the second unveiling in recent months as BYD considers potential […]
Energix signs long-term solar power deal with Google
(Reuters) – Energix Renewables said on Tuesday it has signed a long term agreement with Alphabet’s Google to supply electricity and renewable energy credits generated from its solar projects to the tech giant. To power their rapidly expanding AI data centers, major technology firms like Google are increasingly negotiating electricity supply agreements with energy providers. […]
Lendlease reports $1 billion loss amid strategy shift, regulatory delays
By Rishav Chatterjee (Reuters) -Australia’s Lendlease on Monday reported a wider annual loss as the real estate developer grappled with the impact of an operational strategy shift and delays in reviewing the sale of community projects. Lendlease, the country’s largest property developer, builder and real estate investor, is looking to retreat from its overseas construction […]
Estee Lauder’s long-time CEO Fabrizio Freda to retire
(Reuters) – Estee Lauder said on Monday its long-time CEO Fabrizio Freda had decided to retire from the cosmetic giant next year. Shares of the MAC lipstick maker were up 1% in premarket trading. Freda joined Estee in 2008 as president and chief operating officer and was later named the MAC lipstick maker’s CEO. Estee […]
GM lays off over 1,000 salaried software, services employees
By David Shepardson (Reuters) -General Motors said Monday it is laying off more than 1,000 salaried employees at its software and service units worldwide. GM, confirming the layoffs initially reported by CNBC, said in a statement that “as we build GM’s future, we must simplify for speed and excellence, make bold choices, and prioritize the […]
Canada’s CPKC expands freight embargoes ahead of looming work stoppage
By Promit Mukherjee OTTAWA (Reuters) – Canadian Pacific Kansas City said on Saturday it would halt any new rail shipments originating in Canada, and all new U.S. shipments destined for Canada starting on Tuesday if talks with its Canadian labour union fail to progress. North American industry groups and shippers are bracing for an unprecedented […]
X to close operations in Brazil ‘effective immediately’
SAO PAULO (Reuters) – Media platform X said on Saturday it would close its operations in Brazil “effective immediately” due to what it called “censorship orders” from Brazilian judge Alexandre de Moraes. X claims Moraes secretly threatened one of its legal representatives in Brazil with arrest if it did not comply with legal orders to […]
Ford to recall about 85,000 vehicles due to risk of engine fire
(Reuters) -Ford Motor is recalling about 85,000 Explorer SUVs equipped with the Police Interceptor Utility package over concerns of an engine fire, the National Highway Traffic Safety Administration said on Friday. In the event of an engine failure, engine oil and fuel may be released into the engine compartment and accumulate near ignition sources such […]
Lykos to cut 75% of its workforce after FDA setback for MDMA-based PTSD drug
(Reuters) -Lykos Therapeutics said on Thursday it would reduce its workforce by 75% and initiate some executive changes, days after the U.S. Food and Drug Administration declined approval for its MDMA-based treatment for post-traumatic stress disorder. Lykos, formerly known as MAPS Public Benefit Corp, said its founder Rick Doblin was leaving the company’s board. It […]
Lockheed to buy satellite products maker Terran in $450 million deal
(Reuters) – Lockheed Martin on Thursday agreed to acquire satellite products maker Terran Orbital in a $450 million deal, months after the defense contractor withdrew it previous bid to take it private. Lockheed will pay 25 cents per share in cash, representing a 37.5% discount to Terran’s last close. The company in March had offered […]