Business

Reducing energy waste key to meeting climate goals

Embracing decentralised power grids may be the way forward in building out renewable energy capacity to reach global climate goals, the CEO of investment firm Sustainable Development Capital said on Monday. Speaking on a panel at the Reuters IMPACT sustainability conference in central London, Jonathan Maxwell said U.S. electricity challenges showed a need to “focus […]

Business

U.N. agency warns of recession linked to ‘imprudent’ monetary policy

A United Nations agency warned on Monday of the risk of a monetary policy-induced global recession that would have especially serious consequences for developing countries and called for a new strategy. “Excessive monetary tightening could usher in a period of stagnation and economic instability” for some countries, the United Nations Conference on Trade and Development […]

Business

GM to boost EV Chevrolet Bolt production

General Motors Co (GM.N) said Monday it is ramping up its electric vehicle assembly plans, hiking production of the EV Chevrolet Bolt and other vehicles. GM reported its highest quarterly sales of the Chevrolet Bolt EV and Bolt EUV, which totaled 14,709 vehicles. Bolt sales are down 11% for the first nine months of the […]

Business

Italy freezes real estate owned by two Russian oligarchs

Italy on Monday froze some real estate properties owned by two Russian oligarchs in the luxurious seaside resort of Portofino, in Sirmione on Lake Garda and in Rome, two sources with direct knowledge of the matter said. Guardia di Finanza police seized Villa Altachiara, a mansion with a park on the Portofino promontory on the […]

Business

U.S. manufacturing nearly brakes; price pressures abating

U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in September as new orders contracted amid aggressive interest rate increases from the Federal Reserve to cool demand and tame inflation. The Institute for Supply Management (ISM) survey on Monday also showed a measure of manufacturing employment contracted last month for the fourth […]

Business

U.N. pushes for global fertilizer price cut to avoid ‘future crisis’

The United Nations is pushing to cut the price of fertilizers to avoid a “future crisis” of availability, said a senior U.N. trade official who is involved in talks aimed at boosting the export of Russian fertilizers, including ammonia. Russia’s war in Ukraine has fueled a global food crisis and soaring fertilizer prices, according to […]

Business

Nvidia says it is ceasing all activities in Russia, relocating employees

U.S. chipmaker Nvidia Corp (NVDA.O) said on Monday it is ceasing all activities in Russia and giving employees there the option of continuing their jobs in other countries. “After previously suspending shipments to the country, we had continued to maintain our office to support our employees and their families. With recent developments, we can no […]