Business

Canada trade surplus widens on record energy exports, but seen narrowing

Canada’s trade surplus with the world widened to C$5.05 billion ($3.94 billion) in June as exports of energy products reached a record high but analysts said it would narrow in months to come thanks to lower crude prices. Statistics Canada said on Thursday that exports rose 2.0% in June, driven mainly by energy but also […]

Business

Russia ups stakes in Sakhalin energy standoff in sanctions retaliation

Russia increased pressure on investors in its two Pacific energy projects which once helped Moscow rebuild its economy, blaming ExxonMobil (XOM.N) for falling oil output at Sakhalin-1 and giving shareholders of Sakhalin-2 a month to claim their stakes. Western countries and allies, including Japan, piled sanctions on Russia after it sent troops into Ukraine in […]

Business

EV maker Nikola beats revenue estimates on higher deliveries

Nikola Corp (NKLA.O) exceeded market estimates for quarterly revenue on Thursday as the electric-vehicle maker delivered more semi trucks after a production ramp-up, sending its shares 6% higher in trading before the bell. The company produced 50 Tre battery electric vehicles at its facility in Coolidge, Arizona, in the April-June quarter and delivered 48 units […]

Business

Shares in Brazil’s Embraer rise as it reaffirms 2022 forecasts

Brazilian planemaker Embraer SA (EMBR3.SA) on Thursday stuck with its financial and delivery outlooks for 2022, driving its shares higher as it reported a second-quarter adjusted net profit down 9.6% from a year earlier. Shares in the company rose by as much as 5.6% in early morning, outperforming Brazil’s Bovespa stock index (.BVSP) which was […]

Business

Crypto firm Blockchain.com registers with Italian regulator

London-based crypto firm Blockchain.com said on Thursday it had registered as a virtual asset service provider in Italy, the latest in a string of digital asset firms to do so. Italy created a special registry with its brokerage regulator in February to list crypto operators with a stable presence in the country, provided they meet […]

Business

Cummins workers to get $2,785 cost-of-living payment – UK union Unite

Britain’s Unite trade union has negotiated a 2,300 pounds ($2,785.30) cost-of-living payment that will cover 2,730 workers at U.S. truck engine maker Cummins , the union said on Thursday. “The payment was agreed after Unite reps at the company raised the severe problems that workers were having with making ends meet as a result of […]

Business

Albemarle studying ways to recycle lithium in North America

Albemarle Corp (ALB.N) on Thursday said it is studying ways to develop a battery recycling business in North America and believes there would be many similarities with its current lithium operations. “We’re evaluating just how we partner, invest and develop that supply chain,” Eric Norris, head of Albemarle’s lithium division, said on a Thursday conference […]