BMW tests hydrogen burner at German plant, expands battery assembly lines

BMW expected to outline electrification plans in United States

LEIPZIG, Germany (Reuters) -BMW is testing a burner able to operate on both hydrogen and gas in its paint shop in Leipzig, the carmaker said on Thursday, as it also announced an 800-million-euro ($782 million) investment in new battery assembly lines at the plant. The burner, developed together with combustion technology firm Saacke to reduce… Continue reading BMW tests hydrogen burner at German plant, expands battery assembly lines

Gold ticks up as dip in U.S. yields loosens dollar’s grip

Sales persons wait for customers at a gold jewelry showroom in Chandigarh

By Ashitha Shivaprasad (Reuters) – Gold rose slightly on Monday as a retreat in U.S. Treasury yields offset headwinds from a relatively firm dollar, which, along with looming interest rate hikes, earlier pushed bullion to a more than three-and-a-half-month low. Spot gold rose 0.3% to $1,817.12 per ounce by 1:52 p.m. ET (1752 GMT), after… Continue reading Gold ticks up as dip in U.S. yields loosens dollar’s grip

Oil jumps 4% as U.S. gasoline prices hit record high

Storage tanks at Marathon Petroleum's Los Angeles Refinery in Carson, California, U.S.

By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil. Brent futures rose $4.10, or 3.8%, to settle at $111.55 a barrel. U.S.… Continue reading Oil jumps 4% as U.S. gasoline prices hit record high

Why are food prices going up? Key questions answered

FILE PHOTO: Soup kitchens on the outskirts of Lima struggle with inflation

CHICAGO (Reuters) – Why are food prices rising? Global food prices started to rise in mid-2020 when businesses shut down due to the COVID-19 pandemic, straining supply chains.¬†Farmers dumped out milk and let fruits and vegetables rot due to a lack of available truckers to transport goods to supermarkets, where prices spiked as consumers stockpiled… Continue reading Why are food prices going up? Key questions answered

Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei

FILE PHOTO: Man walks past a logo of Alibaba Group at its office building in Beijing

(Reuters) – Alibaba Group Holding has laid off about 40% of the staff in its Russian joint venture as the ongoing Ukraine crisis disrupts cross-border business, the Nikkei reported on Friday. The Chinese e-commerce giant could not be immediately reached for comment. Citing an employee with knowledge of the matter, the report said it was… Continue reading Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei