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  You know the auto industry has a giant affordability problem when a manufacturer unveils a concept car whose roof and hood are made from reinforced cardboard. The battery-powered Oli, shown last month by Stellantis NV’s Citroën brand, has a top speed of just 68 miles per hour (110 km) and weighs around 1,000 kg (2,200 lb). For once, the ...

  Executives at the world’s most important chipmaker made a valiant attempt at calming global nerves Thursday over the outlook for the semiconductor sector. But equipment suppliers and investors are unlikely to find much to cheer from Taiwan Semiconductor Manufacturing Co.’s third-quarter earnings. Net income at TSMC beat estimates, but that’s because the company has become a master at managing ...

  Bloomberg Kroger Co agreed to buy Albertsons Cos in a deal with an enterprise value of $24.6 billion that would create a US grocery giant with almost 5,000 stores and annual revenue of about $200 billion. Investors will receive $34.10 for each share in Albertsons, which includes a special dividend, the companies said in a statement. That reflects a ...

Bloomberg Pilots at Deutsche Lufthansa AG’s discount carrier will strike for 72 hours after Germany’s Vereinigung Cockpit union called Eurowings’ latest offer “completely insufficient.” The current dispute centers “exclusively” around a reduction of pilot workload and not pay for cockpit staff, according to a statement issued by the union. The employees “have no choice but to express their displeasure about ...

  Bloomberg Delta Air Lines Inc. says it’s not interested in buying back shares anytime soon, even though pandemic-related restrictions have finally ended. “Our sole priority at Delta is to make sure that any excess cash that we’re generating is used to pay down debt, and we acquired a meaningful amount of debt during the pandemic,” Chief Executive Officer Ed ...

  Bloomberg Uniqlo owner Fast Retailing Co rises the most in three months after the company issued an outlook for profit and sales for the current fiscal year ahead of analysts’ projections. Asia’s largest retailer is forecasting a record profit for the year ending August 2023, thanks to improving demand for its cheap casual apparel in Japan and a weaker ...

  Bloomberg Hong Kong International Airport’s September passenger traffic volume increased by 133% from a year earlier, after authorities scrapped some of the city’s harshest travel restrictions, including requirements for hotel quarantine and a pre-boarding Covid test. Passenger throughput climbed to 525,000, 10% higher than in August. The growth was boosted by visitors to and from Southeast Asia, the Airport ...

  Bloomberg Giving out treats this Halloween will be a lot more expensive than usual. The cost of candy and chewing gum jumped 13.1% in September from last year, the most ever, according to US inflation data. This comes just before what’s arguably candy’s most important holiday — Halloween. The culprit is expensive sugar. US refined sugar prices have soared ...

Bloomberg A senior Nato official confronted a Chinese diplomat over China’s failure to condemn the Russian invasion of Ukraine, injecting tension over the war into an international conference about the Arctic. The unusually frank exchange between Admiral Rob Bauer, chair of the alliance’s Military Committee, and He Rulong, China’s ambassador to Iceland, followed a speech by Bauer on Nato’s role ...

Bloomberg Chinese President Xi Jinping pledged his nation will prevail in its fight to develop strategically important tech, underscoring Beijing’s concern over a US campaign to separate it from cutting-edge chip capabilities. “We will focus on national strategic needs, gather strength to carry out indigenous and leading scientific and technological research, and resolutely win the battle in key core technologies,” ...