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Bloomberg Joe Biden’s proposed incentives for US electric-car buyers could be challenged as unfair and a violation of the new North American trade pact, a Canadian auto-industry leader warned. The White House plan as part of the president’s latest budget package, would offer buyers of vehicles made by unionised US workers an additional $4,500 in credits above the $7,500 available ...

Bloomberg Brazil’s stocks, bonds and currency are posting some of the worst returns in the world this month amid deteriorating public finances, a worsening growth outlook and political turmoil. The Ibovespa stock benchmark posted its fourth straight month of losses, its worst run since 2014, and closed in a bear market, down 21% from its June peak. The real has ...

Bloomberg Chile’s jobless rate falls for a sixth straight month and retail sales rose, adding to growing evidence of recovery in one of Latin America’s richest economies. Unemployment falls 0.1 percentage points to 8.4% in the three months through September, but fell short of the 8.3% median estimate in a Bloomberg survey, the National Statistics Institute reported. The labour force ...

Bloomberg Argentina will allow foreign tourists to transfer dollars into a local account and exchange them to pesos at a more lucrative parallel exchange rate, bypassing capital controls in a bid to lure travelers. Tourists traveling from abroad can open a temporary bank account in Argentina before their trip and transfer up to $5,000 into the country, the central bank ...

Bloomberg Canada’s economic growth unexpectedly faltered at the end of the third quarter, casting doubts on the strength of the nation’s recovery. Gross domestic product was little changed in September, according to a preliminary estimate from Statistics Canada, while the expansion was a less-than-expected 0.4% in August. Overall for the third quarter, the economy grew by 0.5%, or an annualised ...

Bloomberg US employment costs rise at the fastest pace on record in the third quarter as companies across a variety of sectors raised wages against a backdrop of labour shortages. The employment cost index, a broad gauge of wages and benefits, rise 1.3% from prior quarter, according to Labour Department data. The gauge increased 3.7% from a year earlier. Compensation ...

Bloomberg Facebook Inc is re-christening itself Meta Platforms Inc., decoupling its corporate identity from the eponymous social network mired in toxic content, and highlighting a shift to an emerging computing platform focused on virtual reality. “The metaverse is the next frontier,” Chief Executive Officer Mark Zuckerberg said in a presentation at Facebook’s Connect conference, held virtually. “From now on, we’re ...

Bloomberg Chinese electric vehicle startup Xpeng Inc unveiled details of new products and features including an assisted driving system, a faster charging infrastructure and a flying car as it signalled its intent to expand from its auto-manufacturing roots. The Guangzhou-based company also launched the prototype of a ridable robot horse at its so-called “Tech Day.” Xpeng said 60% of its ...

Bloomberg Pixel 6 is the latest smartphone to be released under the Google brand and the closest thing to an iPhone running Google’s Android software. It advances mobile photography with creative new uses of artificial intelligence (AI), but it ultimately falls short of competing with the world’s most popular handset. Controlling the operating system, hardware design and now also its ...

Bloomberg Toyota Motor Corp is kicking off its first series of electric vehicles bound for the global market with a battery-powered SUV that the Japanese automaker says embodies the reliability and efficiency underpinning the Toyota brand. The “bZ4X,” which resembles Toyota’s popular Rav-4, is set for release in North America, Japan, China and Europe in mid-2022, the company said. With ...