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South Korean battery makers agree last-minute deal in boost to Biden's EV policy

South Korean battery makers agree last-minute deal in boost to Biden's EV policy

By , WASHINGTON (Reuters) - South Korean battery makers LG Chem and rival SK Innovation Co have agreed to settle a trade secrets dispute that has threatened a key Georgia plant and the electric vehicle plans of Ford Motor Co and Volkswagen AG, three sources briefed on the matter said.The Biden administration through the U.S. Trade Representative’s Office (USTR) faced a Sunday night deadline on whether to take the rare step of reversing a U.S. International Trade Commission decision unless the companies had agreed a deal. An announcement of the battery makers’ settlement is expected soon,...

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David Shepardson
4 days ago
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Boeing production issue prompts airlines to pull some 737 MAX jets from service

Boeing production issue prompts airlines to pull some 737 MAX jets from service

By , WASHINGTON (Reuters) - Airlines suspended the use of dozens of 737 MAX jets on Friday after Boeing Co warned them of a possible electrical fault in the production of some planes.The glitch is the latest problem to beset the U.S. planemaker’s most-sold model but is not related to cockpit safety issues that led to an almost two year grounding, lifted five months ago. The grounding followed two crashes that killed 346 people.Boeing told airlines that repairs for each plane could take a matter of hours or a few days, according to a notification seen by Reuters.The top three U.S. 737 MAX...

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David Shepardson
5 days ago
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U.S. adds Chinese supercomputing entities to economic blacklist

U.S. adds Chinese supercomputing entities to economic blacklist

By WASHINGTON (Reuters) -The U.S. Commerce Department said Thursday it was adding seven Chinese supercomputing entities to a U.S. economic blacklist for assisting Chinese military efforts.The department is adding Tianjin Phytium Information Technology, Shanghai High-Performance Integrated Circuit Design Center, Sunway Microelectronics, the National Supercomputing Center Jinan, the National Supercomputing Center Shenzhen, the National Supercomputing Center Wuxi, and the National Supercomputing Center Zhengzhou to its blacklist. The Commerce Department said the seven were “involved with...

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David Shepardson
6 days ago
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Texas threatens to become next flash point on voting rules

Texas threatens to become next flash point on voting rules

By , , WASHINGTON (Reuters) - Texas appeared on Thursday to become the next flash point on politically charged issues in Corporate America after legislation passed by the state Senate to limit voting access prompted a rebuke from American Airlines.“We are strongly opposed to this bill and others like it,” Fort Worth, Texas-based American said in a statement.The legislation, which is now set to go before the Texas House of Representatives, would eliminate drive-through voting, limit polling site hours and give partisan poll watchers more autonomy.Southwest Airlines, also based in Texas,...

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David Shepardson
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Apr 1
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U.S. Supreme Court permits FCC to loosen media ownership rules

U.S. Supreme Court permits FCC to loosen media ownership rules

By , WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday allowed the Federal Communication Commission to loosen local media ownership restrictions, handing a victory to broadcasters in a ruling that could facilitate industry consolidation as consumers increasingly move online.In a 9-0 ruling authored by Justice Brett Kavanaugh, the justices overturned a lower court decision that had blocked the FCC’s repeal of some media ownership regulations in 2017 for failing to consider the effects on ownership by racial minorities and women. Critics of the industry have said further consolidation...

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David Shepardson
Apr 1
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Delta, Coca-Cola blast home state Georgia's voting restrictions as 'unacceptable'

Delta, Coca-Cola blast home state Georgia's voting restrictions as 'unacceptable'

By , WASHINGTON (Reuters) -Coca-Cola Co and Delta Air Lines on Wednesday joined a bid by U.S. companies to challenge the state of Georgia’s new voting restrictions, with both Atlanta-based companies calling the law unacceptable.Microsoft Corp, , which in February announced a major new investment in Atlanta, Georgia’s capital, added its voice, with President Brad Smith saying provisions of the law signed last week “unfairly restrict the rights of people to vote legally, securely, and safely.”Citi Chief Financial Officer Mark Mason said in a LinkedIn post he was “appalled by the recent voter...

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David Shepardson
Mar 31
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Biden calls for $100 billion to expand U.S. broadband access

Biden calls for $100 billion to expand U.S. broadband access

By WASHINGTON (Reuters) - President Joe Biden on Wednesday called on Congress to spend $100 billion over eight years to expand high-speed broadband access to the entire United States - and said his plan aims to lower prices and steers funding away from companies providing internet.“Americans pay too much for internet service. We’re going to drive down the price for families who have service now,” Biden said in a speech in Pittsburgh after the release of his $2 trillion-plus proposal for federal government investment.The White House said Biden’s plan would build “future proof” broadband...

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David Shepardson
Mar 31
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Volkswagen admits marketing prank, pulls fake release on name change

Volkswagen admits marketing prank, pulls fake release on name change

By , WASHINGTON (Reuters) -Volkswagen AG’s U.S. unit issued a false news release claiming it would rename its U.S. operations as “Voltswagen of America” in a marketing stunt designed to call attention to its electric vehicle efforts, the carmaker said.Volkswagen came under criticism on social media for its misleading news release, with some commentators recalling the company’s diesel emissions scandal and years of misleading customers and regulators.The initial news release, posted on its website and accompanied by tweets, was reported by Reuters and other outlets globally and included a...

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David Shepardson
Mar 31
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U.S. lawmakers urge USPS board to halt delivery vehicle contract

U.S. lawmakers urge USPS board to halt delivery vehicle contract

By WASHINGTON (Reuters) - Thirteen U.S. House Democratic lawmakers on Monday urged the U.S. Postal Service’s governing board to halt implementation of a contract that could be worth $6 billion to build up to 165,000 next-generation delivery vehicles.In February, the USPS awarded a contract to Oshkosh Corp to build a mix of gasoline-powered and electric vehicles instead of choosing Workhorse Group Inc to build an all-electric fleet.The lawmakers, including Representative Gerald Connolly, who chairs a subcommittee that oversees USPS, Jared Huffman, Tim Ryan, Debbie Dingell and others, also...

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David Shepardson
Mar 29
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S.Korean battery makers agree $1.8 billion settlement, aiding Biden's EV push

S.Korean battery makers agree $1.8 billion settlement, aiding Biden's EV push

By , , (Fixes Volkswagen RIC in paragraph 4)WASHINGTON/SEOUL (Reuters) -South Korean battery makers LG Energy Solution and SK Innovation Co agreed on Sunday to settle disputes over electric-vehicle (EV) battery technology, avoiding a potential setback for U.S. EV ambitions.The settlement after marathon talks by affiliates of two of South Korea’s biggest conglomerates was announced just hours before a Sunday night deadline for President Joe Biden’s administration to decide whether to take the rare step of reversing a U.S. International Trade Commission decision (ITC).In a statement, Biden...

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David Shepardson
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4 days ago
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