Germany to Accelerate Development of Autonomous Driving
2019-01-23 18:33:15 UTC
FRANKFURT (Reuters) - Germany’s top carmakers including BMW and Volkswagen are looking at ways to speed up development of the next generation of self-driving cars, possibly by even working together, as tech giant Google forges ahead with plans to mass produce such vehicles.
Carmakers and tech companies have been in a race to develop self-driving robotaxis since 2012 when Google unveiled a self-driving car. BMW announced a development pact with tech firm Mobileye in 2016 and Daimler struck an alliance with autos supplier Bosch in 2017.
BMW and Daimler’s first-generation autonomous cars will start to emerge after 2020/2021 using comput...
Jimmy Carter: The US Is An “Oligarchy With Unlimited Political Bribery”
2019-01-08 00:53:49 UTC
<p>Former president Jimmy Carter said Tuesday on the nationally syndicated radio show the <a href="http://www.thomhartmann.com/">Thom Hartmann Program</a> that the United States is now an “oligarchy” in which “unlimited political bribery” has created “a complete subversion of our political system as a payoff to major contributors.” Both Democrats and Republicans, Carter said, “look upon this unlimited money as a great benefit to themselves.”</p><p>Carter was responding to a question from Hartmann about recent Supreme Court decisions on campaign financing like <em>Citizens United</em>.</p><p>T...
Golden Globes 2019: The Complete List Of Winners
2019-01-07 07:29:25 UTC
<p>BEVERLY HILLS, Calif. (AP) — Complete list of winners at the 76th annual Golden Globe Awards, presented Sunday in Beverly Hills, California, by the Hollywood Foreign Press Association:</p><p>FILM</p><p>Drama: “Bohemian Rhapsody”</p><p>Actress, Drama: Glenn Close, “The Wife”</p><p>Actor, Drama: Rami Malek, “Bohemian Rhapsody”</p><p>Comedy or Musical: “Green Book”</p><p>Actor, Comedy or Musical: Christian Bale, “Vice”</p><p>Actress, Comedy or Musical: Olivia Colman, “The Favourite”</p><p>Actress-Supporting Role: Regina King, “If Beale Street Could Talk&rdq...
US Utility Company PG&E Explores Filing for Bankruptcy
2019-01-06 03:42:30 UTC
(Reuters) - California utility company PG&E Corp (PCG.N) is exploring filing some or all of its business for bankruptcy protection as it faces billions of dollars in liabilities related to fatal wildfires in 2018 and 2017, people familiar with the matter said on Friday.
The company is considering the move as a contingency, in part because it could soon take a significant financial charge for the fourth quarter of 2018 related to liabilities from the blazes, the sources said.
A bankruptcy filing is not certain, the sources said. The company could receive financial help through legislation that would let it pass on to customers costs a...
GM To Cut 14,700 Jobs In Ohio, Michigan, Maryland And Ontario
2018-11-26 18:36:11 UTC
DETROIT/WASHINGTON (Reuters) - General Motors will cut production of slow-selling models and slash its North American workforce in the face of a declining market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles.
The announcement is the biggest North America restructuring for the U.S. No. 1 carmaker since its bankruptcy a decade ago. Its shares rose 7.6 percent to $38.66.
GM plans to halt production next year at three assembly plants: Lordstown, Ohio; Hamtramck, Michigan; and Oshawa, Ontario. It will also stop building several models now assembled at those plants, including the Chevrolet...
Catastrophic Effects of Climate Change
2018-11-25 02:46:14 UTC
(Reuters) - Climate change will cost the U.S. economy hundreds of billions of dollars by the end of the century, hitting everything from health to infrastructure, according to a government report issued on Friday that the White House called inaccurate.
The congressionally mandated report, written with the help of more than a dozen U.S. government agencies and departments, outlined the projected impact of global warming on every corner of American society in a dire warning that is at odds with the Trump administration’s pro-fossil-fuels agenda.
“With continued growth in emissions at historic rates, annual losses in some economic secto...
Brexit: The Irish border has become a sticking point
2018-10-15 16:25:14 UTC
LUXEMBOURG (AP) — Britain and the European were still both refusing to blink Monday over the question of the Irish border in Brexit talks — only two days ahead of a summit once seen as the moment when they would have to reach deal on Britain’s divorce from the bloc.
A flurry of diplomatic meetings over the weekend had raised hopes for a Brexit agreement, but they were derailed by the issue that has dogged the talks for months — how to ensure that no hard border is created between the EU’s Ireland and Britain’s Northern Ireland once Brexit happens on March 29.
The EU has proposed a “backstop” solution that would keep Northern Ireland ...
Facebook says hackers accessed data from 29 million accounts
2018-10-12 17:50:55 UTC
NEW YORK (AP) — Facebook says hackers accessed data from 29 million accounts as part of the security breach disclosed two weeks ago.
The exact number hadn’t been known before. Originally Facebook said 50 million accounts could have been affected, but Facebook didn’t know if they had been misused.
The hackers accessed name, email addresses or phone numbers from those 29 million accounts. For 14 million of those accounts, hackers got even more data, such as hometown, birthdate, the last 10 places they checked into or 15 most recent searches. One million accounts were affected but hackers didn’t gain information. The social media servic...
US Stock Markets In A Free Fall
2018-10-11 21:54:02 UTC
NEW YORK — The Dow Jones Industrial Average and the S&P 500 fell sharply again Thursday after both indexes on Wednesday logged their largest losses on a percentage basis since Feb. 8.
The S&P 500 has closed lower for five straight days. The Nasdaq declined on Thursday, a day after the tech-heavy index had its biggest percentage drop since June 2016.
Stocks in Asia closed sharply lower on Thursday following the selloff on Wall Street. Tokyo's Nikkei 225 declined 3.9%, and the Shanghai Composite index sank 5.2%. Banks and health care companies are taking some of the worst losses while technology companies are slightly h...
Dominated by men: Amazon scraps tool that showed bias against women
2018-10-11 21:53:47 UTC
SAN FRANCISCO (Reuters) - Amazon.com Inc’s (AMZN.O) machine-learning specialists uncovered a big problem: their new recruiting engine did not like women.
The team had been building computer programs since 2014 to review job applicants’ resumes with the aim of mechanizing the search for top talent, five people familiar with the effort told Reuters.
Automation has been key to Amazon’s e-commerce dominance, be it inside warehouses or driving pricing decisions.
<blockquote><h2>Amazon’s experimental hiring tool</h2>The company’s experimental hiring tool used artificial intelligence to give job candidates scores ranging from one to fiv...
Wall Street faces worst day since February
2018-10-11 21:53:35 UTC
NEW YORK (Reuters) - Stocks on major world markets slid to a three-month low on Wednesday, with the benchmark S&P500 stock index falling more than 3.0 percent, its biggest one-day fall since February.
Technology shares tumbled on fears of slowing demand, while bond yields ended lower after seeing multi-year highs earlier this week.
Major equity indexes in Europe fell more than 1.0 percent, also pulled down by technology shares, and gold prices inched up as some investors sought refuge in the metal.
“The S&P 500 is looking very weak and negative and that is putting fear into investors,” said Michael Matousek, head trader at U.S. Gl...
U.S. industry groups to fight Trump's economic policies
2018-09-12 05:08:07 UTC
WASHINGTON (Reuters) - After months of waging a behind-the-scenes war against President Donald Trump’s trade tariffs that have escalated far beyond what business groups once imagined, more than 60 U.S. industry groups are launching a coalition on Wednesday to take the fight public.
Emergence of the group, Americans for Free Trade, comes after Trump has warmed to the use of tariffs, implementing billions of dollars worth in an effort to use them as a threat to win concessions or in the belief they will create U.S. jobs.
“A lot of other interest groups thought they wouldn’t go this long or go this deep, but the layering effect (of tari...
Mercedes-Benz launches 'all-electric SUV with 450 km range'
2018-09-04 18:13:12 UTC
STOCKHOLM (Reuters) - Mercedes showed on Tuesday how it is “aggressively” gunning for top spot in upscale battery cars market currently dominated by Tesla, as it unveiled the EQC, its first fully electric car, at an event in Stockholm.
The event marks the start of the German onslaught against the American upstart and showcased a SUV with a 450 kilometer range, distinctively full-width rear light and clean-cut interiors that Mercedes hopes will find favor with luxury customers and tech-savvy millennials alike.
Daimler aims to have up to 10 electrified car variants by 2022, a target reiterated on Tuesday by Daimler CEO Dieter Zetsche, ...
Toyota to invest about $500 million in Uber Technologies
2018-08-28 01:30:16 UTC
(Reuters) - Toyota Motor Corp will invest about $500 million in Uber Technologies Inc [UBER.UL] to jointly work on developing driverless vehicles, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Toyota and Uber were not immediately available for comment.
<hr><I><strong>Reporting by Arunima Banerjee in Bengaluru; Editing by Shailesh Kuber</I></strong><hr>
US and Mexico agreed to overhaul NAFTA
2018-08-28 01:30:25 UTC
WASHINGTON (Reuters) - The United States and Mexico agreed on Monday to overhaul the North American Free Trade Agreement (NAFTA), putting pressure on Canada to agree to the new terms on auto trade and other issues to remain part of the three-nation pact.
U.S. President Donald Trump and outgoing Mexican President Enrique Pena Nieto said talks with Canada would begin immediately, though Trump threatened he could put tariffs on Canadian-made cars if a three-way deal could not be reached.
“I think with Canada, frankly, the easiest we can do is to tariff their cars coming in. It’s a tremendous amount of money and it’s a very simple negoti...
CEOs: Trump's Immigration Policy Hurts U.S. Economy
2018-08-24 01:13:53 UTC
(Reuters) - A group of chief executive officers at the largest U.S. companies expressed serious concern about the Trump administration’s immigration policy and said the rules increase uncertainty and undermine economic growth.
In the letter signed by 59 CEOs including Tim Cook of Apple Inc (AAPL.O), JPMorgan Chase & Co’s (JPM.N) Jamie Dimon and Doug Parker of American Airlines (AAL.O), the executives said that many of their employees were now facing uncertainty due to issues such as ‘inconsistent immigration decisions’ that would likely curtail work permits for spouses of skilled immigrants.
“As the federal government undertakes its ...
China slaps additional tariffs of 25 percent on $16 billion US imports
2018-08-08 17:44:20 UTC
BEIJING/WASHINGTON (Reuters) - China is slapping additional tariffs of 25 percent on $16 billion worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world’s largest economies escalated their trade dispute.
The tariffs will be activated on Aug. 23, the ministry said, the same day that the United States plans to begin collecting 25 percent extra in tariffs on $16 billion of Chinese goods.
The United States published its final list of goods subject to the new tariffs on Tuesday.
China’s final list announced on Wednesday differs from an earlier draft it publishe...
Apple became the first $1 trillion listed US company
2018-08-02 18:06:54 UTC
SAN FRANCISCO (Reuters) - Apple became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.
The tech company’s stock jumped 2.8 percent to as high as $207.05, bringing its gain to about 9 percent since Tuesday when its reported June-quarter results above expectations and said it bought back $20 billion of its own shares.
Started in the garage of co-founder Steve Jobs in 1976, Apple has pushed its revenue beyond the economic outputs of P...
Plunge in Facebook shares rattled Amazon options market
2018-07-26 18:56:45 UTC
SAN FRANCISCO/NEW YORK (Reuters) - A plunge in Facebook Inc shares rattled the Amazon.com Inc options market on Thursday, with the social network’s fellow FAANG company due to report quarterly results later in the day.
Facebook on Wednesday warned about a margin hit as revenue growth slows and user privacy costs climb, and its 20 percent share drop heightened focus on the online retailer, already a closely watched stock.
Amazon was the second-biggest decliner in the so-called FAANG group of high-flying tech companies, but Facebook’s second-quarter earnings also cast a pall on shares of Apple Inc, Netflix Inc and Google parent Alphabe...
World Trade Organization rules in favor of Canada against US
2018-07-05 16:28:20 UTC
GENEVA (Reuters) - Canada won the bulk of a ruling at the World Trade Organization on Thursday in a dispute over U.S. duties on Canadian exports of supercalendered paper, which is used in glossy magazines and catalogues.
Canada filed the complaint in 2016, saying Washington was wrong to penalize Canada for subsidizing its paper industry.
The ruling can be appealed by either side.
The panel of WTO judges declined to rule on several of Canada’s arguments, but in other respects they found almost entirely in Canada’s favor.
Canada had complained about U.S. subsidy investigations into Canadian firms Port Hawkesbury Paper LP and Reso...
Volkswagen offers carsharing service with electric vehicles
2018-07-04 19:11:31 UTC
FRANKFURT (Reuters) - Volkswagen plans to start offering car sharing services using fully electric vehicles in German cities next year as part of efforts to serve consumers who don’t want to buy their own vehicles.
Its offering will compete in its home market with DriveNow and Car2Go, the soon-to-be-merged carsharing services of BMW and Daimler Benz.
Volkswagen said on Wednesday the new carsharing service would be expanded to major cities in Europe, North America and Asia as early as 2020 and focus on core VW brand cars.
VW is seeking to move on from its diesel emissions scandal of 2015, the repercussions of which are still being...
Trump’s “tariffs would result in loss of hundreds of thousands of American jobs”
2018-06-27 22:59:23 UTC
WASHINGTON (Reuters) - Two major auto trade groups on Wednesday warned the Trump administration that imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten industry spending on self-driving cars.
A coalition representing major foreign automakers including Toyota Motor Corp, Volkswagen AG (VOWG_p.DE), BMW AG, and Hyundai Motor Co, said the tariffs would harm automakers and U.S. consumers. The administration in May launched an investigation into whether imported vehicles pose a national security threat and President Donald Trump has repeatedly...
Harley-Davidson move shows consequences of Trump's trade war
2018-06-27 00:38:30 UTC
WASHINGTON/CHICAGO (Reuters) - U.S. President Donald Trump threatened Harley-Davidson Inc with higher taxes on Tuesday and said the motorcycle maker, which he previously hailed as a model of American manufacturing, would suffer from a public backlash if it went ahead with a plan to move production for European customers overseas.
Trump’s attack, the latest in a series of criticisms of U.S. companies, was an about-face for the president, who hosted company officials and gleaming Harley-Davidson bikes on the White House lawn shortly after his inauguration.
“A Harley-Davidson should never be built in another country-never! Their employe...
Tesla to close 14 solar facilities, cut jobs
2018-06-22 04:44:58 UTC
SAN FRANCISCO (Reuters) - Electric car maker Tesla Inc’s move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal, according to three internal company documents and seven current and former Tesla solar employees.
The latest cuts to the division that was once SolarCity - a sales and installation company founded by two cousins of Tesla CEO Elon Musk - include closing about a dozen installation facilities, according to internal company documents, and ending a retail partnership with Home Depot Inc that the current and former employees ...
New York sues Trump, three of his children & his foundation
2018-06-15 07:09:12 UTC
NEW YORK (Reuters) - New York’s attorney general sued U.S. President Donald Trump, three of his children and his namesake foundation on Thursday, alleging “persistently illegal conduct” at the nonprofit, including support for Trump’s 2016 presidential campaign.
Barbara Underwood, the attorney general, asked a New York state judge to dissolve the Donald J. Trump Foundation and to ban Trump, his sons Donald Jr. and Eric, and his daughter Ivanka from holding leadership roles in New York charities.
Underwood said her office’s 21-month investigation, begun under her predecessor Eric Schneiderman, uncovered “extensive unlawful political co...