Business

Tax credits for EU electric vehicles dominate U.S. trade talks

The United States and the European Union on Monday cited progress addressing EU concerns about a U.S. climate law that would cut off the bloc’s electric vehicles from U.S. tax credits, but failed to resolve the matter. They issued a joint statement after the third ministerial-level of the U.S.-EU Trade and Technology Council (TTC) vowed […]

Business

Twitter leans on automation to moderate content as harmful speech surges

Elon Musk’s Twitter is leaning heavily on automation to moderate content, doing away with certain manual reviews and favoring restrictions on distribution rather than removing certain speech outright, its new head of trust and safety said. Twitter is also more aggressively restricting abuse-prone hashtags and search results in areas including child exploitation, regardless of potential […]

Business

Exxon Mobil raises CEO, top executives base pay

Exxon Mobil Corp (XOM.N) is raising the annual base salaries of its top boss and other executives for next year, the largest U.S. oil company said on Monday. Exxon Mobil’s compensation committee approved an increase in the annual salary of Chief Executive Officer Darren Woods to $1.88 million from $1.70 million this year, according to […]

Business

Bankman-Fried says he will testify before U.S. House committee

FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify before the House Financial Services Committee after he finished “learning and reviewing” the events that led to the spectacular collapse of his cryptocurrency exchange. The U.S. House Financial Services Committee plans to hold a hearing in December to investigate the collapse of FTX and […]

Business

BP doubles down on hydrogen as fuel of the future

BP chief executive Bernard Looney is betting on hydrogen to power future low-carbon businesses as the governments of major economies stump up cash to develop the fuel to decarbonise. Low-carbon hydrogen already has a big fan-base and is forecast to play a major role in reducing greenhouse gas emissions from heavy industries and some forms […]

Business

China’s LONGi denies circumventing U.S. tariffs on solar panels

Chinese solar panel maker LONGi Green Energy Technology Co. Ltd (601012.SS) said on Monday it will provide evidence to show it is complying with U.S. laws after the U.S. Department of Commerce found it to be circumventing tariffs. The United States will impose new duties on imports from LONGi and three other Chinese solar panel […]

Business

GM’s BrightDrop signs first customer in Canada, unveils country’s first large EV factory

The first electric delivery trucks rolled off production lines at BrightDrop’s new factory in Canada on Monday, when the upstart unit of General Motors Co (GM.N) also announced DHL Express Canada (DPWGn.DE) as its first customer outside the United States. GM spent seven months and more than $2 billion transforming its 2 million-square-foot CAMI Assembly […]