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Ford cuts 3,000 jobs to fund shift towards EVs

  Bloomberg Ford Motor Co said it is cutting 3,000 jobs in a move to boost profits as it seeks to fund the $50 billion it plans to spend on electric vehicles. The cuts will come primarily in the US, while some positions also are being eliminated in Canada and India, a company spokesman said. The total includes 2,000 salaried ...

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Oil swings as traders digest hawkish Fed rate-hike cues

  Bloomberg Oil struggled to find direction as traders digested comments made by Federal Reserve Chair Jerome Powell suggesting interest rates will rise, which carries the potential of slowing demand for crude. West Texas Intermediate fluctuated near $92 a barrel. The Federal Reserve Chair signaled the US central bank is likely to keep raising interest rates and leave them elevated ...

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UAE leaders offer condolences on death of Saudi princess

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan, sent a cable of condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia on the death of Princess Abeer bint Abdullah bin Abdulaziz bin Saud bin Jalawi Al Saud. His Highness Sheikh Mohammed bin Rashid Al Maktoum, ...

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