Consumer stocks’ earnings may offer clues on U.S. economy’s resilience

By David Randall NEW YORK (Reuters) – Investors are awaiting earnings reports from consumer discretionary companies in coming weeks for a read on how the U.S. economy is faring amid persistently high inflation and the Federal Reserve’s most aggressive rate hiking cycle since the 1980s. Consumers have largely held strong over the last year even …

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China’s Xpeng aims to cut costs with new vehicle manufacturing platform

SHANGHAI (Reuters) – China’s electric vehicle (EV) maker Xpeng unveiled on Sunday a new platform it developed in-house for making vehicles, which it said will reduce the development and manufacturing costs for its company’s upcoming models. The Smart Electric Platform Architecture (SEPA) 2.0 will help Xpeng to reduce costs of powertrain systems including batteries by …

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Nigeria’s electoral body voids result in Adamawa governorship race

LAGOS (Reuters) – Nigeria’s electoral commission on Sunday halted announcement of results in Adamawa’s state governor election and said the declaration of Aisha Dahiru as the country’s first elected female state governor was null and void. Nigerians voted for state governors on March 11 but the election in Adamawa, a largely conservative Muslim state, was …

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Video shows New Mexico police were at wrong house seconds before killing homeowner

By Joseph Ax (Reuters) – New Mexico police officers realized they were at the wrong address just moments before the front door opened and they fatally shot the armed homeowner, then exchanged gunfire with his wife, according to newly released body camera video of the April 5 shooting. Robert Dotson, 52, was killed by police …

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German auto association sees 2023 electric passenger car output up 50%

BERLIN (Reuters) – Germany’s auto industry association VDA expects the number of electric passenger cars produced in Europe’s biggest economy to jump by 50% to over a million this year, due to rising foreign demand and carmakers ramping up e-mobility production. “We assume that the domestic production of electrically-powered passenger cars will increase by 50 …

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