Thursday, 24 May 2018

U.S. launches auto import probe, China says will defend interests

U.S. launches auto import probe, China says will defend interests

WASHINGTON (Reuters) - The Trump administration has launched a national security investigation into car and truck imports that could lead to new U.S. tariffs similar to those imposed on imported steel and aluminum in March.

Factbox: Big U.S. auto dealers have significant import exposure

NEW YORK (Reuters) - Several U.S. auto dealers derive a significant portion of their revenue from imported vehicles, which could be affected if tariffs are imposed on auto imports.

Dow, S&P 500 edge down after Trump cancels North Korea summit; Netflix gains

NEW YORK (Reuters) - U.S. stocks mostly eased on Thursday after President Donald Trump canceled a planned summit with North Korea's Kim Jong Un and ordered a probe of auto imports, while gains in Netflix pushed its market value to a record.

Uber disabled emergency braking in self-driving car: U.S. agency

WASHINGTON (Reuters) - Uber had disabled an emergency braking system in a self-driving vehicle that struck and killed a woman in Arizona in March after failing to identify the pedestrian, the National Transportation Safety Board said in a preliminary report released on Thursday.

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

(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.

Stock market value of Netflix eclipses Disney for first time

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 most valuable entertainment company, following a monumental shift by viewers away from cinemas and cable television.

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

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.

Facebook launches searchable archive of U.S. political ads

SAN FRANCISCO (Reuters) - Facebook Inc on Thursday launched an archive of U.S. political ads that appear on the world's largest social network, showing who paid for them and other details, after an outcry over Russians' alleged purchase of such ads during the 2016 elections.

Tesla's Musk bashes media, proposes credibility check

(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.

Electric vehicles seen driving cobalt crunch by mid-2020s

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.

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