Category: Business

U.S. producer prices increased less than expected in October as services fell for the first time in nearly two years, offering more evidence that inflation was starting to subside, potentially allowing the Federal Reserve to slow its aggressive pace of interest rate hikes. The report from the Labor Department on Tuesday also showed a decline […]

General Motors Co (GM.N) plans to add more links to its North American battery supply chain, adding to roughly 20 deals so far, in a key strategy to help the Detroit automaker narrow the gap with Tesla Inc (TSLA.O) in electric vehicle profitability. GM Chief Executive Mary Barra and other executives are scheduled to brief […]

Europe’s STOXX 600 index closed higher on Tuesday, boosted by gains in technology and commodity stocks after softer-than-expected U.S. inflation data bolstered hopes of less-aggressive Federal Reserve interest rate hikes in the coming months. The continent-wide index (.STOXX) rose 0.4%, logging its fourth-straight session of gains and erasing intraday losses after softer-than-expected U.S. producer prices […]

Oil major Shell (SHEL.L) and state-owned Chinese energy company CGN on Tuesday said that they would drop their plan for a floating wind power project on France’s Brittany coast, citing inflation and supply chain problems among other reasons. “The project faced several technical, commercial and financial challenges, all in a context of constantly increasing costs […]

An activist investor with a large stake in Envestnet Inc. (ENV.N) plans to ask for board seats to push the financial technology company to improve its stock price by cutting costs and overhauling pay, two people familiar with the matter said. Impactive Capital, founded by veteran investors Lauren Taylor Wolfe and Christian Asmar, owns a […]

California prosecutors have asked a court to delay a trial for a Tesla (TSLA.O) Model S driver who faces manslaughter charges over a 2019 crash that left two people dead, according to court documents. The trial, originally scheduled to take place on Tuesday in the Los Angeles area, marks the first criminal case against a […]

Digital payments processor Opn, a rare Japanese unicorn, or startup worth more than $1 billion, said on Tuesday it had acquired MerchantE from U.S. investment firm Integrum Holdings, making inroads into the U.S. online payment sector. Opn, whose investors include Toyota Motor Corp’s (7203.T) financial services unit, did not disclose the size of the deal, […]