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Fiat Chrysler recalls 5.3 million vehicles for cruise control defect

May 25, 2018 by  
Filed under News

WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV is recalling more than 5.3 million vehicles in North America over a defect that could prevent drivers from deactivating cruise control, the company said on Friday, warning owners not to use the function until they get software upgrades.


Source: Reuters Business News

U.S. reaches deal to keep Chinese telecom ZTE in business: congressional aide

May 25, 2018 by  
Filed under News

WASHINGTON (Reuters) – The Trump administration told lawmakers the U.S. government has reached a deal to put Chinese telecommunications company ZTE Corp back in business, a senior congressional aide said on Friday.


Source: Reuters Business News

Exclusive: Tesla flies in new battery production line for Gigafactory

May 25, 2018 by  
Filed under News

FRANKFURT/SAN FRANCISCO (Reuters) – Tesla Inc has flown six planes full of robots and equipment from Europe to California in an unusual, high-stakes effort to speed up battery production for its Model 3 electric sedan, people familiar with the matter told Reuters this week.


Source: Reuters Business News

Tesla hires new chief financial officer for China

May 25, 2018 by  
Filed under News

(Reuters) – Tesla Inc on Friday announced a number of key executive hires including former GE and General Motors executive James Zhou as its China CFO and Neeraj Manrao, a former Apple executive, as director of energy manufacturing.


Source: Reuters Business News

FBI warns Russians hacked hundreds of thousands of routers

May 25, 2018 by  
Filed under News

WASHINGTON (Reuters) – The FBI warned on Friday that Russian computer hackers had compromised hundreds of thousands of home and office routers and could collect user information or shut down network traffic.


Source: Reuters Business News

J&J must pay $4 million in punitive damages in latest asbestos cancer trial

May 24, 2018 by  
Filed under News

(Reuters) – A California jury on Thursday ordered Johnson & Johnson to pay $4 million in punitive damages to a woman who said she developed cancer after being exposed to asbestos in the company’s baby powder, pushing the total damages award in the case to $25.7 million.


Source: Reuters Business News

Deutsche Bank axes at least 7,000 jobs in trading retreat

May 24, 2018 by  
Filed under News

FRANKFURT (Reuters) – Deutsche Bank is slashing more than 7,000 jobs to cut costs and restore profitability, while keeping its international reach as its new CEO seeks to reassure investors and clients.


Source: Reuters Business News

Tesla's Musk bashes media, proposes credibility check

May 24, 2018 by  
Filed under News

(Reuters) – Tesla Inc Chief Executive Elon Musk gained the support on Thursday of more than half a million people on Twitter for plans to create a website evaluating journalists’ credibility, spurred by his frustration at media reports about the electric car maker.


Source: Reuters Business News

Netflix's stock market value eclipses Disney's for first time

May 24, 2018 by  
Filed under News

SAN FRANCISCO (Reuters) – Netflix’s stock market value ballooned to a record $153 billion on Thursday and eclipsed Walt Disney Co for the first time, making it the world’s top entertainment company and underscoring a monumental shift by viewers away from cinemas and cable television.


Source: Reuters Business News

Electric vehicles seen driving cobalt crunch by mid-2020s

May 24, 2018 by  
Filed under News

LAS VEGAS (Reuters) – The increasing popularity of electric vehicles may create a crunch for supplies of cobalt in the early-to-mid 2020s, miners and analysts say, adding that small operators trying to start up mines outside Africa could play a bigger role over time in satisfying demand for the metal used in rechargeable batteries.


Source: Reuters Business News

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