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South Korea's SK On, Ford Motor to end US battery joint venture

South Korea's SK On, Ford Motor to end US battery joint venture

By Heekyong Yang, Hyunjoo Jin and Joyce Lee SEOUL, Dec 11 (Reuters) - South Korean battery maker SK On said on Thursday that it has decided to end its joint venture with Ford Motor for their joint battery factories in the U.S. as part of a business overhaul to focus on growth areas like energy
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Major automakers say China poses 'clear and present threat' to US auto industry

Major automakers say China poses 'clear and present threat' to US auto industry

By David Shepardson WASHINGTON, Dec 11 - Major automakers on Thursday urged Washington to prevent Chinese government-backed automakers and battery manufacturers from opening U.S. manufacturing plants, warning the industry's future is at stake.
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EIA Projects Record U.S. Power Consumption in 2025 and 2026 Due to Data Centers and Electrification

EIA Projects Record U.S. Power Consumption in 2025 and 2026 Due to Data Centers and Electrification

The U.S. Energy Information Administration (EIA) has released a forecast indicating that U.S. power consumption will reach unprecedented levels in 2025 and 2026. The projected power demand is expected to rise to 4,199 billion kilowatt-hours in 2025 and further to 4,267 billion kWh in 2026, surpassing the 2024 record of 4,110 billion kWh. This increase is largely driven by the growing energy needs of data centers, which support artificial intelligence and cryptocurrency operations, as well as a shift from fossil fuels to electricity for heating and transportation in homes and businesses. The EIA also notes changes in the energy mix, with a decrease in natural gas usage and an increase in renewable energy sources.
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US wholesale inventories rebound strongly in September

US wholesale inventories rebound strongly in September

WASHINGTON, Dec 11 (Reuters) - U.S. wholesale inventories rebounded in September amid increases in the stocks of long-lasting manufactured goods, which likely provided a lift to gross domestic product in the third quarter.
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South Korea to consider setting up $3.1 billion foundry to grow local chip sector

South Korea to consider setting up $3.1 billion foundry to grow local chip sector

By Joyce Lee and Hyunjoo Jin SEOUL, Dec 10 (Reuters) - South Korea is considering building a 4.5 trillion won ($3.06 billion) foundry to make essential chips, funded by state and private investment, part of efforts to gain an edge in a race to nurture local semiconductor firms as demand for AI chips
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Bank of Korea board member says 'can't sit and do nothing' about a weaker won

Bank of Korea board member says 'can't sit and do nothing' about a weaker won

SEOUL, Dec 10 (Reuters) - A board member of South Korea's central bank said on Wednesday foreign exchange authorities need to take action to curb the won's decline against the dollar, as it may reignite inflationary pressure and weaken retail purchasing power.
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Inside Stellantis CEO's 'emergency room' rush to recapture market share

Inside Stellantis CEO's 'emergency room' rush to recapture market share

By Giulio Piovaccari, Nora Eckert and Gilles Guillaume MILAN/DETROIT/PARIS, Dec 11 (Reuters) - New Stellantis CEO Antonio Filosa is prioritising vehicle sales growth over profits including resorting to lower-margin fleet sales and investing in affordable models to recapture market share in North
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North Korea's ruling elite prepares for once-in-5-years party meeting

North Korea's ruling elite prepares for once-in-5-years party meeting

North Korea says leader Kim Jong Un has opened a meeting to prepare for the upcoming ruling party congress, one of the country’s biggest political conferences meant to lay out new state priorities
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Bullish views rise on most Asia currencies, Indian rupee shorts spike: Reuters poll

Bullish views rise on most Asia currencies, Indian rupee shorts spike: Reuters poll

By Sneha Kumar Dec 11 (Reuters) - Analysts ramped up long bets on most Asian currencies on stronger growth prospects and weakness in the greenback, a Reuters poll showed on Thursday, while short positions on the Indian rupee surged to a 10-month high.
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North Korea's Ruling Elite Prepares for Party Congress Amid Tensions

North Korea's Ruling Elite Prepares for Party Congress Amid Tensions

North Korean leader Kim Jong Un and top officials are convening to prepare for the ruling party's first full congress in five years. The meeting, reported by state media, aims to set new priorities as the U.S. and South Korea seek to resume talks with North Korea. The congress, revived by Kim in 2016 after a long hiatus, is expected to occur in early 2026. Observers are keen to see if Kim will respond to diplomatic overtures from the U.S. and South Korea, especially after the collapse of nuclear talks with President Trump in 2019. Meanwhile, North Korea has conducted artillery exercises, which are seen as part of its military training.
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Crypto mogul Do Kwon to be sentenced for misleading investors who lost billions in stablecoin crash

Crypto mogul Do Kwon to be sentenced for misleading investors who lost billions in stablecoin crash

Cryptocurrency mogul Do Kwon is scheduled to be sentenced for misleading investors who lost billions when his company’s crypto ecosystem collapsed in 2022
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Morning Bid: Wobbling bonds find a level as Fed meets

Morning Bid: Wobbling bonds find a level as Fed meets

By Mike Dolan Dec 9 - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Fed week got off to a rocky start in global markets, courtesy of bond market hits across the world, but government debt yields stabilized on Tuesday as the Federal Reserve started