Business
Ford to cut European jobs as EV shift, Chinese rivals take toll
Ford to cut 14% of European workforce, citing EV losses, weak demand and rising competition.
Chinese EV maker XPeng to break even later in 2025, president says
Chinese EV maker Xpeng enters 'super cycle,' driven by strong demand and overseas expansion.
UAW says majority of workers at Ford joint-venture battery plant sign union cards
A majority of workers at a Ford Motor battery plant in Kentucky have signed cards indicating their support for the United Auto Workers,...
Stellantis again pauses Italy plants as minister wants new investments
Stellantis pauses production at two Italian plants amid EV challenges, as Rome demands clear investment plans to secure jobs.
Exxon Mobil signs non-binding lithium supply deal with LG Chem
Exxon signs non-binding deal to supply LG Chem with lithium from its Arkansas project, advancing U.S. EV battery supply chain ambitions.
Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth: Reuters poll
U.S. tariffs on China could hit 40 per cent in 2025, cutting up to one per cent off China's growth amid debt risks...
China’s Pony AI seeks up to $4.55 billion valuation in upsized US IPO
Pony AI aims to raise up to $260M in its U.S. IPO, the robotaxi firm announced Wednesday.
TC Energy CEO sees opportunity in Trump win as company refocuses on natural gas
As a company, TC Energy has already seen first-hand how business can flourish or be derailed by political winds south of the border.
Qualcomm ‘positive’ on Trump administration as it forecasts chip sales growth
Qualcomm expects $8 billion in automotive chip revenue and $4 billion in PC chip sales by fiscal 2029, it said at an investor...
Volkswagen appoints former Rivian executive as head of American business
Volkswagen appoints Kjell Gruner as head of its American business, as the automaker faces a choppy electric transition and UAW negotiations.
XPeng forecasts upbeat fourth quarter revenue as new launches improve demand
Chinese EV maker XPeng forecasts strong Q4 revenue, beating Wall Street estimates.
Nvidia’s AI chip demand still booming but slowing sales growth worries investors
Nvidia’s Q4 forecast topped estimates, but shares fell as sky-high investor expectations and supply-chain snags challenge big revenue beats.
Billionaire Gautam Adani of India’s Adani Group indicted in US bribery case
Adani Group's Gautam Adani indicted in U.S. for $250M bribery scheme tied to $2B solar profits, deceiving investors, say prosecutors.
Awaiting Trump, US auto execs further temper EV push
US automakers may slow EV production as Trump targets Biden's climate policies, including the $7,500 EV tax credit from the Inflation Reduction Act.
US awards up to $2.2 billion to speed clean-hydrogen development
U.S. awards $2.2B for Gulf Coast and Midwest hydrogen hubs to advance clean energy, cut emissions, and boost energy security.
UAW says majority of workers at Ford joint-venture battery plant sign union cards
A majority of workers at a Ford Motor battery plant in Kentucky have signed cards indicating their support for the United Auto Workers,...
US finalizes $1.5 billion chips award for GlobalFoundries to expand production
GlobalFoundries secures $1.5B U.S. subsidy to expand semiconductor production in New York and Vermont, boosting chip supply chains.
Newfoundland wind-to-hydrogen company eyes data centre as international market lags
World Energy GH2 shifts focus to AI-powered data centers as Canada's green hydrogen market faces delays and high production costs.
Alberta Energy Regulator orders Sunshine Oilsands to suspend wells, pipelines
Sunshine Oilsands Ltd. has been ordered to suspend its wells, facilities and pipelines for failing to meet regulatory obligations.
TC Energy CEO sees opportunity in Trump win as company refocuses on natural gas
As a company, TC Energy has already seen first-hand how business can flourish or be derailed by political winds south of the border.
Trudeau touts embattled carbon levy to global audience, says it faces misinformation
Prime Minister Justin Trudeau is defending his embattled carbon-pricing program on the world stage, and he argues that misinformation is threatening environmental progress.
New Indigenous-owned mining royalty company a first in Canada
Backed by billionaire Canadian Frank Giustra, Nations Royalty offers investors access to Indigenous-owned royalties.
STMicro partners with Hua Hong as chipmakers need China, says CEO
STMicroelectronics partners with China's Hua Hong, citing local production as key to competing in the fast-evolving Chinese EV market.
Stellantis again pauses Italy plants as minister wants new investments
Stellantis pauses production at two Italian plants amid EV challenges, as Rome demands clear investment plans to secure jobs.
Ford to cut European jobs as EV shift, Chinese rivals take toll
Ford to cut 14% of European workforce, citing EV losses, weak demand and rising competition.
VW union proposes $1.6 billion of cuts, but no plant closures
Volkswagen workers offer €1.5B in cost savings to avoid plant closures, warning of historic conflict over deeper cuts and closures.
Sweden has no plans to take stake in Northvolt, deputy PM says
Sweden won't invest in cash-strapped Northvolt, says Minister Ebba Busch, despite its strategic value in the EU's industrial competition.
China’s Pony AI seeks up to $4.55 billion valuation in upsized US IPO
Pony AI aims to raise up to $260M in its U.S. IPO, the robotaxi firm announced Wednesday.
Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth: Reuters poll
U.S. tariffs on China could hit 40 per cent in 2025, cutting up to one per cent off China's growth amid debt risks...
Chinese EV maker XPeng to break even later in 2025, president says
Chinese EV maker Xpeng enters 'super cycle,' driven by strong demand and overseas expansion.
XPeng forecasts upbeat fourth quarter revenue as new launches improve demand
Chinese EV maker XPeng forecasts strong Q4 revenue, beating Wall Street estimates.
Sayona Mining, Piedmont agree to create $623 million lithium miner
Australia's Sayona Mining acquires U.S.-based Piedmont Lithium in a $623M all-stock deal.
Bolivia to sell $5 billion in carbon credits to stem rampant forest loss
Bolivia aims to sell $5 billion worth of carbon offset credits, the government announced on Thursday, in a bid to stop rampant forest...
BHP, Vale cleared by Brazil court over 2015 dam disaster
A Brazilian court on Thursday cleared BHP, Vale, and their Brazilian joint venture Samarco, of responsibility over the 2015 dam collapse.
BHP set to detail copper growth plans on Chile roadshow, analysts say
Copper is key to BHP's growth plans as an essential metal for the energy transition — but BHP's production is expected to fall...
Brazil’s Tocantins state to offer $430 million in carbon credits
The value and number of carbon credits is contingent on the state successfully reducing deforestation.
Chilean regulator charges Codelco smelter with emissions violation
Chile’s environmental regulator has filed a "serious" charge against Codelco's Potrerillos smelter over emissions violations.
New Botswana leader eyes cannabis, sunshine to lift economy
Botswana's President Duma Boko unveils plans to diversify the economy via solar energy, medicinal cannabis, and tech innovation.
South Africa’s revised carbon tax to be harsher but with more offsets, Treasury says
South Africa is one of the world's top 15 greenhouse gas emitters and the only country in Africa with a carbon tax.
Saudi Aramco says quarterly profit drops 15% on low oil prices
The world's largest crude oil exporter, Saudi Aramco, reports a Q3 profit drop of 15 per cent, reflecting lower oil prices and ongoing...
Ethiopia bans imports of gas-powered private vehicles, but the switch to electric is a bumpy ride
More than 100,000 electric cars are now being imported into Ethiopia each month.
Carlyle sells holding in Tunisia-focused Mazarine Energy to CEO
Carlyle exits Mazarine Energy, selling majority stake to CEO van Kersbergen for continued growth in Europe and Africa.
Newfoundland wind-to-hydrogen company eyes data centre as international market lags
World Energy GH2 shifts focus to AI-powered data centers as Canada's green hydrogen market faces delays and high production costs.
Stellantis unveils technology to support flexible EV production, delays Ram electric pickup
Stellantis unveils a versatile platform for gas, hybrid, and electric vehicles but delays electric Ram truck production to 2025, citing quality focus.
Alberta Energy Regulator orders Sunshine Oilsands to suspend wells, pipelines
Sunshine Oilsands Ltd. has been ordered to suspend its wells, facilities and pipelines for failing to meet regulatory obligations.
New Botswana leader eyes cannabis, sunshine to lift economy
Botswana's President Duma Boko unveils plans to diversify the economy via solar energy, medicinal cannabis, and tech innovation.
Nebraska files antitrust lawsuit against heavy-duty truck makers over EV push
Nebraska AG sues top truck makers, alleging collusion to phase out diesel semis in favor of electric trucks to meet California rules.
Volkswagen appoints former Rivian executive as head of American business
Volkswagen appoints Kjell Gruner as head of its American business, as the automaker faces a choppy electric transition and UAW negotiations.
As COP29 eyes $1 trillion climate fund, some see new taxes as one way to get there
COP29 leaders eye $1T+ yearly for climate aid, exploring taxes on shipping, aviation, fossil fuels, crypto, and wealth to fund efforts.
TC Energy CEO sees opportunity in Trump win as company refocuses on natural gas
As a company, TC Energy has already seen first-hand how business can flourish or be derailed by political winds south of the border.
Sweden has no plans to take stake in Northvolt, deputy PM says
Sweden won't invest in cash-strapped Northvolt, says Minister Ebba Busch, despite its strategic value in the EU's industrial competition.
UK joins coalition to phase out fossil fuel subsidies
The UK joins 16 nations in a coalition to phase out fossil fuel subsidies at COP29 in Azerbaijan.