BEIJING (Reuters) – A decision by the Trump administration to sanction China’s Xiaomi Corp in early 2021 was the catalyst for the company’s decision to build its first electric car, CEO Lei Jun said on Friday. Best known for its smartphones and home appliances, Xiaomi entered China’s crowded EV market this year, part of its…
BEIJING (Reuters) – China’s lithium prices rebounded on Friday after a powerful earthquake hit Chile’s major lithium producing region, although growing demand concerns weighed on the metal used in electric vehicle batteries. The most-traded November lithium carbonate futures on the Guangzhou Futures Exchange rose 2.9% to 89,800 yuan ($12,356.89) per metric ton on Friday, having…
(Reuters) -Credit card giant American Express raised its full-year profit forecast on Friday, as its wealthy customers persisted in splurging on travel, dining and entertainment. The company also reported better-than-expected second-quarter profit, underscoring the benefit it has enjoyed by focusing on a premium customer base. AmEx’s affluent cardholders have somewhat insulated it from weakness in…
By Moira Warburton WASHINGTON (Reuters) -Thirty congressional Democrats have publicly called on Democratic President Joe Biden to end his re-election bid after the 81-year-old incumbent’s halting debate performance against Republican rival Donald Trump. They represent more than one in ten Democrats in Congress, where Biden’s party controls 213 seats in the House of Representatives and…
