WASHINGTON (Reuters) - The United States and Japan have decided to launch a new joint international semiconductor research hub, Japanese Trade Minister Hagiuda Koichi said at press conference in Washington.
The countries agreed during U.S and Japanese economic talks to work on joint research for next-generation semiconductors to establish a secure source of the vital components.
Commerce Secretary Gina Raimondo said there was extensive discussion Friday "about how Japan and the United States could collaborate, especially with respect to advanced semiconductors."
(Reporting by David Shepardson; Editing by Chris Reese)
MEXICO CITY (AP) — Mexico’s economy grew by 1% in the second quarter, Mexico’s national statistics agency said Friday. Economic growth for the first half of 2022 now amounts to 1.9%,after an expansion of 0.9% in the first three months of the year. The economy recovered by 5% in 2021 following a steep drop during the coronavirus pandemic. But growth is expected to slow amid high interest rates and an economic downturn in the United States, by far Mexico’s largest trading partner. Mexico’s central
CALGARY — Imperial Oil Ltd. CEO Brad Corson said Friday the federal government's strategy to reduce emissions and reach net-zero amounts to overreach from Ottawa. "It is very aggressive and stretches the capability of what is technically and economically feasible," Corson said on a conference call with analysts. Earlier this month, Ottawa released a statement outlining ways it could potentially design the oil and gas emissions cap, which is part of its 2030 emissions reduction plan, and launched
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LENORAH, Texas (AP) — To the naked eye, the Mako Compressor Station outside the dusty West Texas crossroads of Lenorah appears unremarkable, similar to tens of thousands of oil and gas operations scattered throughout the oil-rich Permian Basin. What’s not visible through the chain-link fence is the plume of invisible gas, primarily methane, billowing from the gleaming white storage tanks up into the cloudless blue sky. The Mako station, owned by a subsidiary of West Texas Gas Inc., was observed
'It’s hard to get excited by no growth in May and 0.1 per cent in June'
Caribbean Utilities Company, Ltd. (TSX: CUP.U) ("CUC" or "the Company") announced today its unaudited results for the three and six months ended June 30, 2022 (all dollar amounts are stated in United States dollars).
MONTREAL — Transat AT Inc. has secured another emergency loan from Ottawa as the tour operator struggles to shore up its balance sheet. Transat says it has reached a deal to borrow $100 million from the Canada Enterprise Emergency Funding Corporation. The loan comes precisely 15 months after Transat received a $700-million government bailout, saying then that nearly half of the funding would flow toward passenger refunds. The Montreal-based company received an additional $43-million loan last Ma
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(Reuters) -Hershey Co said on Thursday it would fall short of meeting demand for the all-important Halloween and Christmas holiday seasons this year, blaming a scarcity of raw ingredients and difficulties in securing suppliers. Pandemic-induced global supply chain disruptions and the Russia-Ukraine war have crunched supplies of cocoa, edible oil and other food ingredients, pinching production lines of packaged food companies around the world. Hershey Chief Executive Officer Michele Buck said those issues, along with the company's focus on meeting demand during non-holiday periods, would lead to a likely shortage during Halloween, but added that sales will still top last year.
Nissan Motor Co on Thursday said it was "cautiously optimistic" after posting a 14% drop in quarterly operating profit as the semiconductor shortage gradually eases and COVID-19 lockdowns in Shanghai are lifted. Nissan has taken steps to secure inventory levels with suppliers in the short term and replace custom made semiconductors with general purpose chips over the medium-term, said Chief Operating Officer Ashanti Gupta, adding that the situation is "improving". All of Nissan's suppliers in China have restarted operations at full capacity, the executive added.
Demand for transportation fuels remains strong despite mixed signals from inventory data collected by the U.S. Energy Information Administration (EIA), U.S. fuelmakers said on Thursday. Fears that the U.S. economy is heading into a recession have sent crude oil prices lower as recessions are usually followed by periods of lower fuel demand. Demand for gasoline has remained below the five-year seasonal average since early June, according to EIA data.
WASHINGTON (Reuters) -U.S. President Joe Biden's campaign trail promise to increase taxes on corporations and the wealthy as part of a battle against glaring income inequality in the United States got an unexpected boost on Wednesday. Early proposals to increase tax rates from Biden and his fellow Democrats hit a brick wall in Congress after Republicans -- and some Democrats -- opposed them. Biden has often said in office that companies should instead pay a "fair share," a contrast to deference to private markets begun by Republicans with former President Ronald Reagan's election in 1980, and buoyed by rounds of tax cuts and deregulation, by both parties.
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U.S. stocks on Thursday rallied for a second day, with all three major indexes ending up more than 1% as data showing a second consecutive quarterly contraction in the economy fueled investor speculation the Federal Reserve may not need to be as aggressive with interest rate hikes as some had feared. The yield on benchmark 10-year Treasury notes retreated following the data, while utilities and real estate - both of which tend to rise when yields fall - were the day's best-performing S&P 500 sectors. The decline in yields may suggest "that markets think the Fed will have to pivot and move rates lower at some point, maybe in the next 12-month period," said Mona Mahajan, senior investment strategist at Edward Jones.
The emirate's state carrier, which did not disclose net profit, said its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to $690 million in the first half from $6 million in the same period of 2021. "While ramping up our operations and recording a four-fold increase in passenger volumes, we kept a tight hold on our cost base," Chief Financial Officer Adam Boukadida said in a statement. The state carrier has posted six consecutive annual net losses, with accumulated losses of $7.8 billion from 2016 to last year.
China Evergrande Group will offer asset packages that may include shares in its two overseas-listed businesses as a sweetener for restructuring offshore debt, the developer said, as a stifling liquidity crisis in the property sector continues. Evergrande's restructuring proposal came on Friday as China's property sector, a key pillar for the economy, lurches from one crisis to another. HOW DID EVERGRANDE COME INTO THE PUBLIC EYE?
Through war, siege and social strife, rich and poor countries across the world have had a long and often painful history of rationing anything from food to fuel and water, sometimes with unintended consequences. 1793-94 - The food crisis in the chaotic aftermath of the 1789 French Revolution led Maximilien Robespierre's government to seek to control grain from the fields right up to the mouths of consumers under a rationing system backed by the guillotine. Its harshness finally led to Robespierre's fall from power and his execution, also by the guillotine.
Petro-Victory Energy Corp. ("Petro-Victory" or the "Company") (TSXV: VRY) announces the results of the first well of its 2022 drilling program in Brazil.
(Reuters) -Procter & Gamble Co delivered quarterly earnings that missed estimates on Friday and forecast lower sales growth, citing surging transportation and commodity costs, consumer cutbacks and retailer reluctance to hike prices. P&G shares fell as much as 6% in the morning as the company missed quarterly earnings estimates for the first time in at least five years, according to Refinitiv data. Chief Financial Officer Andre Schulten warned in a call with media that P&G, a bellwether for consumer products, is seeing "some resurgence" of shoppers buying cheaper store brand items in some categories.