US new home sales rebound in May; consumer sentiment at record low

US new home sales rebound in May;  consumer sentiment at record low

Carpenters work on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, US, May 5, 2021. REUTERS/Octavio Jones/File Photo Register now for FREE unlimited access to Reuters.com Register New home sales rebounded 10.7% in May; April data revised up Median house price jumps 15.0% to … Read more

Toyota, Subaru shares drop on “embarrassing” recalls of first EVs

Toyota, Subaru shares drop on "embarrassing" recalls of first EVs

TOKYO, June 24 (Reuters) – Toyota Motor (7203.T) shares slipped after it recalled some of its first mass-made all-electric cars, launched two months ago, because of a risk of wheels coming loose, a setback to its ambitions to electrify its model range. Toyota, the world’s largest automaker by sales, said on Thursday it would recall … Read more

Exclusive: After pressure from Toyota chief, Japan emphasized support for hybrids

Exclusive: After pressure from Toyota chief, Japan emphasized support for hybrids

TOKYO, June 24 (Reuters) – Toyota Motor Corp’s (7203.T) chief lobbied the Japanese government to make clear it supported hybrid vehicles as much as battery electrics or face losing the auto industry’s support, a senior lawmaker told a ruling party meeting. The lobbying by Akio Toyoda, president of Toyota and chairman of the Japan Automobile … Read more

US bans sales of Juul e-cigarettes, company to seek stay on enforcement

US bans sales of Juul e-cigarettes, company to seek stay on enforcement

June 23 (Reuters) – Sales of Juul e-cigarettes were blocked by the US Food and Drug Administration on Thursday, in a major blow to the once high-flying firm whose products have been tied to a surge in teenage vaping. The agency said the applications “lacked sufficient evidence” to show that sale of the products would … Read more

Exclusive: Inside the hangar at the center of the $1 billion Airbus-Qatar jet dispute

Exclusive: Inside the hangar at the center of the $1 billion Airbus-Qatar jet dispute

DOHA, June 22 (Reuters) – Two high-tech Airbus A350 jets sit idle with their windows taped and engines covered in a floodlit hangar in the Gulf, hobbled by an international legal dispute between European industrial giant Airbus (AIR.PA) and Qatar’s national carrier. From a distance, the planes might seem like any other long-haul jetliners crowding … Read more

Stock rally fizzles on revived inflation fears

Stock rally fizzles on revived inflation fears

Employees of the foreign exchange trading company Gaitame.com work in front of monitors showing the Japanese yen exchange rate against the US dollar, the euro and Nikkei share average at its dealing room in Tokyo, Japan June 22, 2022. REUTERS/Issei Kato Register now for FREE unlimited access to Reuters.com Register TOKYO, June 22 (Reuters) – … Read more

US Supreme Court rejects Bayer bid to nix Roundup weedkiller suits

US Supreme Court rejects Bayer bid to nix Roundup weedkiller suits

WASHINGTON, June 21 (Reuters) – The US Supreme Court on Tuesday rejected Bayer AG’s (BAYGn.DE) bid to dismiss legal claims by customers who contend its Roundup weedkiller causes cancer as the German company seeks to avoid potentially billions of dollars in damages. The justices turned away a Bayer appeal and left in place a lower … Read more

Anticipating US downturn, Elon Musk details Tesla staff cuts

Anticipating US downturn, Elon Musk details Tesla staff cuts

DOHA, June 21 (Reuters) – Elon Musk, CEO of Tesla (TSLA.O), said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world’s richest man predicted a US recession was more likely than not. His remarks were his most detailed explanation of job cut plans and his … Read more

Wall Street set for bounceback but recession risk keeps investors cautious

Wall Street set for bounceback but recession risk keeps investors cautious

LONDON, June 21 (Reuters) – Wall Street was set to open higher on Tuesday and European shares were set for a second day of gains, recovering slightly from last week’s 17-month lows, but major central banks’ rate hike plans and global recession risks kept investors cautious. World stocks have edged higher so far this week, … Read more

Biggest rail strike in 30 years brings UK to standstill

Biggest rail strike in 30 years brings UK to standstill

More than 40,000 rail workers set to strike Government under pressure over cost-of-living crisis Unions say strike may start ‘summer of discontent’ LONDON, June 21 (Reuters) – Britain’s biggest rail strike in 30 years kicked off on Tuesday as tens of thousands of staff walked out in a dispute over pay and jobs that could … Read more