The EV battery maker Northvolt filed for bankruptcy on Wednesday. The Swedish company, founded by two ex-Tesla executives, struggled amid stuttering demand for EVs. It was widely seen as Europe’s hope for an EV battery manufacturer to rival Asian automakers. Northvolt, the electric vehicle battery maker founded by two former Tesla executives, has reached the
Stocks rose on Wednesday after a tumultuous few days of trading following President Trump’s decision to impose tariffs on some of the United States’ biggest trading partners and retaliatory measures by the European Union, China and Canada. Futures on the S&P 500, which allow investors to trade ahead of exchanges opening, were slightly higher. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shares in Zara owner Inditex fell 7 per cent on Wednesday after the world’s biggest fashion retailer said sales growth had started to slow. Inditex alarmed investors after results showed sales rose 4 per cent
The US dollar is near a five-month low amid Trump’s economic and trade policies. The euro and yen are rising due to Europe’s spending plans and Japan’s interest rate signals. Analysts are speculating on the dollar’s reserve status amid global economic shifts and policies. The US dollar neared a five-month low against other major currencies
President Trump made a lot of promises on the campaign trail last year. Investors and business leaders enthusiastically cheered some, like lower taxes and relaxed regulation, and expressed wariness about others, like tariffs and reduced immigration. But when Mr. Trump won the election, there was little sign of that ambivalence: Stock prices soared, as did
Suzanne McGee, Carolina Mandl and Ankur Banerjee | Reuters Trump wants to kill $52 billion semiconductor subsidy law Trump says lawmakers should cancel the $52.7 billion CHIPS Act to in Washington, D.C. “Taiwan Semiconductor, the biggest in the world, most powerful in the world, has a tremendous amount, 97% of the market, announced a $165