Bloomberg The global semiconductor shortage will slash earnings at General Motors Co. and Ford Motor Co. by about one-third this year as supply constraints hamper production and profits, Moody’s Investor Service estimates. The chip shortage will materially erode margins and could lower expected earnings before interest and taxes by as much as $2 billion for GM and $2.5 billion for …

Bloomberg Apple Inc. is working on a magnetically attached battery pack for the newest iPhones, an accessory that would wirelessly charge the handset and provide the company with another potentially lucrative add-on product. Apple has been developing the attachment for at least a year and it has been scheduled to launch in the months following the release of the iPhone …

Bloomberg HSBC Holdings Plc said it expects to eventually shrink its property footprint by 40%, the latest sign of how the pandemic is changing the role of the office. Europe’s largest bank would reduce its “real estate footprint” over the long term, Group Chief Operating Officer John Hinshaw said in a call with analysts after bank reported fourth-quarter results. Last …