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)
The Government of Canada and partners will be making a major announcement related to housing.
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(Reuters) -AbbVie Inc has agreed to pay up to $2.37 billion to resolve thousands of U.S. lawsuits against its Allergan unit over the marketing of opioid painkillers, state officials announced on Friday. If finalized, the deal could end more than 3,000 lawsuits by state and local governments around the country. "We've worked hard to get the best result for Americans harmed by the opioid crisis, and it's rewarding to take another step in the right direction," Iowa Attorney General Tom Miller, who led negotiations with the company, said in a statement.
Canadians should watch for TSX stocks like Shopify Inc. (TSX:SHOP)(NYSE:SHOP), as the e-commerce space has seen slower growth. The post What to Watch for in the TSX Today appeared first on The Motley Fool Canada.
(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.
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Enbridge Inc. has extended its push into liquefied natural gas as global demand soars, scooping up a stake in a proposed LNG project on the West Coast — even as the projected cost of the venture more than tripled. On Friday, the Calgary-based energy company announced it was buying a 30 per cent stake in the construction and operation of the Woodfibre LNG processing and export facility near Squamish, B.C. Pacific Energy retains a 70 per cent stake in the in the $5.1-billion project under the part
OTTAWA (Reuters) -Canada on Thursday welcomed a deal reached by Democratic U.S. senators to back a bill that includes an expansion of tax credits for electric vehicles produced in North America that does not discriminate against those manufactured in Canada. A previous version of the bill presented by Democratic President Joe Biden's administration included tax credits that would have favored American-based manufacturers, sparking furious Canadian lobbying in Washington to get it changed. The bill had been blocked until late Wednesday, when Senate Majority Leader Chuck Schumer and fellow Democratic Senator Joe Manchin reached agreement on a revamped version that instead foresees tax credits for "North American" electric vehicles, or EVs.
Luxury fashion group Prada beat first-half sales and profit forecasts on Thursday and said it could reach its mid-term targets earlier than planned, although that would depend on how the current uncertain economic environment unfolds. However, sales in the Asia Pacific region overall declined by 7% in the period as lockdowns in mainland China from mid-March impacted around 30% of group stores. The key Chinese market improved since store re-openings in June, Prada said.
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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.
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
Indonesia has blocked search engine website Yahoo, payments firm Paypal and several gaming websites due to failure to comply with licensing rules, an official said on Saturday, sparking a backlash in social media. Several tech companies had rushed to register in days leading to the deadline, which had been extended until Friday, including Alphabet Inc's, Meta Platforms Inc's Facebook, Instagram and WhatsApp and Amazon.com Inc. Semuel Abrijani Pangerapan, a senior official at Indonesia's Communications Ministry, said in a text message websites that have been blocked include Yahoo, Paypal and gaming sites like Steam, Dota2, Counter-Strike and EpicGames, among others.
Last week, Stellantis and GAC said they would end their loss-making venture producing Jeep SUVs in China only four months after Stellantis said it would raise its stake in the business. In January, GAC reprimanded Stellantis for announcing plans to raise its stake to 75% from 50%, stating the parties had not signed a formal agreement.
L'Oreal may continue to raise prices in the second half of the year to offset rising production costs, but would do so in a very targeted manner, the cosmetics group's Chief Executive Officer Nicolas Hieronimus told Reuters on Thursday. The maker of Maybelline mascara and Lancome perfumes beat expectations with 13.4% sales growth in the second quarter, tapping into a strong rebound in makeup sales as socialising resumes.
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.
Canada's resource-heavy main stock index rose on Friday, capping a positive month for the market, as company earnings impressed investors and preliminary data showed the Canadian economy expanding more than expected in the second quarter. The Toronto Stock Exchange's S&P/TSX composite index ended up 236.21 points, or 1.2%, at 19,692.92, its highest closing level since June 13. Boosting the index, oil major Imperial Oil Ltd gained 3.9% after reporting a more than six-fold jump in second-quarter profit as the energy company benefited from a surge in energy prices after the Russian invasion of Ukraine.
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.