Renault must disassemble EV unit in thorough overhaul

Renault must disassemble EV unit in thorough overhaul

PARIS — Renault on RNO -2.12% said it would split itself into several divisions, put its core business that makes conventionally powered cars into a joint venture with a Chinese partner and detailed plans for a separate IPO of its electric car division. The restructuring, one of the most radical in the French carmaker’s 124-year … Read more

Foxconn plans to invest $170 million in EV truck maker Lordstown Motors

Foxconn plans to invest $170 million in EV truck maker Lordstown Motors

The two companies said Monday that Taipei-based Foxconn plans to spend $170 million to buy common stock and newly created preferred stock, giving Lordstown Motors a fresh injection of capital as it works to ramp up production of its debut model, the Endurance. In addition, Foxconn and Lordstown Motors said they would jointly develop their … Read more

Hedging against currency fluctuations separates winners from losers this year

Hedging against currency fluctuations separates winners from losers this year

The dollar’s recent surge has added to the complexity of buying overseas stocks for investors accustomed to focusing on metrics such as company earnings and share price valuations. When US-based investors hold international stocks, their performance is driven by fluctuations in exchange rates as well as the performance of the underlying company stocks. In periods … Read more

For chip makers, the shift from scarcity to abundance is intensifying

For chip makers, the shift from scarcity to abundance is intensifying

The chip industry has swung hard from a demand for higher output to cost savings as it adjusts to a semiconductor downturn that has infected nearly every part of its business. Chip companies in recent weeks have instituted hiring freezes and layoffs, slashed investment plans, reduced factory output and warned investors of a sharp turnaround … Read more

Lyft plans to lay off about 700 workers in second round of job cuts

Lyft plans to lay off about 700 workers in second round of job cuts

Lyft has more than 4,000 employees, not including drivers. Photo: Sebastian Hidalgo for The Wall Street Journal Updated November 3, 2022 at 12:05 PM ET Lyft Inc. LIFT -0.25% said it is cutting 13% of staff, or nearly 700 jobs, the latest technology company to say it needed to cut costs ahead of choppy economic … Read more

Supply-Chain Tech Provider Project44 Delays Potential Public Offering

Supply-Chain Tech Provider Project44 Delays Potential Public Offering

Supply chain technology provider project44 has postponed plans for a possible public offering amid uncertainty in markets, and is instead turning to more venture capital investments to expand its company’s tracking of goods through global transportation networks. Chicago-based project44, one of a number of supply chain software startups that have drawn billions of dollars in … Read more

The Broken Deal triggered currency losses for Barclays, Deutsche Bank and Citigroup

The Broken Deal triggered currency losses for Barclays, Deutsche Bank and Citigroup

Barclays BCS -0.71% PLC, Deutsche Bank AG DB 0.52% and Citigroup Inc. C -0.24% lost money on currency hedging products it sold to a client for an acquisition that fell through, the latest example of the damage spread during the worst stretch of deal-making in years. Prosus PRX -1.77% NV, best known as the largest … Read more

Twitter plans to end ad-free article offers for blue subscribers

Twitter plans to end ad-free article offers for blue subscribers

Twitter Inc. is ending the ability for subscribers of its paid Twitter Blue product to access ad-free articles from publishers, according to people familiar with the matter. Twitter Blue is a roughly year-old monthly subscription that offers premium features such as an “undo tweet” option and access to ad-free articles from hundreds of publishers, including … Read more

Twitter plans to end ad-free article offers for blue subscribers

Twitter plans to end ad-free article offers for blue subscribers

Twitter Inc. is ending the ability for subscribers of its paid Twitter Blue product to access ad-free articles from publishers, according to people familiar with the matter Twitter Blue is a roughly year-old monthly subscription that offers premium features such as an “undo tweet” option and access to ad-free articles from hundreds of publishers, including … Read more

US-Canada frequent traveler border program sparks diplomatic rift

US-Canada frequent traveler border program sparks diplomatic rift

OTTAWA – A disagreement between the United States and Canada over border security that has simmered for months behind the scenes has escalated into a public diplomatic spat that is disrupting the plans of business travelers who frequently cross the border. The spin centers on the US-Canada trusted traveler program, called Nexus, which expedites previously … Read more