Business

U.S. retail sales surge as Americans kick off holiday shopping, brighten economic outlook

WASHINGTON (Reuters) – U.S. retail sales surged in October as Americans eagerly started their holiday shopping early to avoid empty shelves amid shortages of some goods because of the ongoing pandemic, giving the economy a lift at the start of the fourth quarter.FILE PHOTO: Shoppers wait in line to enter the Chanel store on 57th […]

Analysis & Comment

Germany's AUTO1 seeks to raise at least 1.5 billion euros in IPO

FILE PHOTO: Flags with the logo of Auto1.com are pictured at the company grounds in Zoerbig, Germany January 28, 2017. REUTERS/Fabrizio Bensch(Reuters) – German used-car trading platform AUTO1 on Monday set a range of between 32 and 38 euros per share for its initial public offering, implying that its Frankfurt flotation will raise at least […]

Politics

Citing new book, Biden accuses Trump of betraying Americans on coronavirus

WARREN, Mich. (Reuters) – Democratic presidential nominee Joe Biden accused President Donald Trump on Wednesday of betraying the American people, saying he knowingly lied about the deadliness of the novel coronavirus in what amounted to a “dereliction” of his duty. According to newly released recordings of interviews done in February for a book by journalist […]

Business

California startup aims to tackle battery degradation in electric cars

(Reuters) – Lithium-ion batteries are essential to electric vehicles, but they have drawbacks: They are hard to make and degrade over time. A San Leandro, California-based start-up on Thursday said it had raised $4 million in funding and is working with German chemical giant BASF SE (BASFn.DE) on a new technology to tackle those problems, […]

Business

Tesla signs three-year pricing deal with battery cell maker Panasonic

(Reuters) – Tesla Inc (TSLA.O) has signed a three-year pricing deal with Japan’s Panasonic Corp (6752.T) relating to the manufacture and supply of lithium-ion battery cells at the Gigafactory in Nevada, the electric carmaker disclosed in a filing on Tuesday. Tesla and Panasonic have been reported to be in talks to expand the battery joint […]

Business

GM CEO optimistic on U.S. demand, China, EV profitability

DETROIT (Reuters) – General Motors Co’s (GM.N) top executive struck an optimistic note on Monday about U.S. new vehicle demand despite the coronavirus pandemic, and the ability to sell electric vehicles at a profit, especially in China. “We’re cautiously optimistic” about U.S. new vehicle demand, Chief Executive Officer Mary Barra said at a virtual press […]