Bloomberg General Motors (GM) is laying the groundwork for a bigger bet on electric vehicles, telling investors at a virtual conference it plans to boost spending on them by more than a third to $27 billion as part of a push to introduce 30 battery-powered models by 2025. The initiative represents an increased investment of $7 billion and 10 more …

Bloomberg Nikon Corp plans to reduce about 2,000 employees, or 10% of its total workforce, due to a slump in its core camera business, Nikkei reported. Its business was also impacted by the performance of Intel Corp, one of Nikon’s key clients of semiconductor equipment, the daily reported, without saying where it got the information. In the company’s reform agenda, …

Bloomberg Oil rose on expectations that further progress in vaccines against the coronavirus will revive global demand, and amid signs of robust consumption in Asia. Brent futures advanced 1.4% as Pfizer Inc said a final analysis of clinical-trial data indicated its Covid-19 vaccine was 95% effective. The overall price structure of the market also showed the outlook is brightening, with …