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By Michael S. Derby (Reuters) -Americans grew more worried about the economic outlook in February even as their expectations of the future path of inflation were little changed, a report on Monday from the Federal Reserve Bank of New York said. According to the bank’s latest Survey of Consumer Expectations, inflation a year from now is seen at 3.1%, up a hair from January’s 3% reading, while the projected level of inflation three and five years from now was unchanged relative to January at 3%. The Fed wants inflation at 2%. The bank’s relatively calm outlook for inflation contrasted, however,…

By Marie Mannes STOCKHOLM (Reuters) -Scania said on Monday it had secured a new supply of battery cells in addition to its deal with Northvolt, as the Swedish truckmaker warned it will miss its 2025 targets to cut emissions due in part to problems with electric battery deliveries. Northvolt, once considered Europe’s best hope for an electric vehicle battery champion, filed for U.S. Chapter 11 bankruptcy protection last November and is seeking to raise cash and restructure its debt. Reuters in January reported that Scania, which is Northvolt’s top customer and a shareholder, had stepped in to help Northvolt with…

By Chris Kirkham (Reuters) – Tesla’s (TSLA) stock has dropped by nearly half in three months. Even so, investors are still debating whether Elon Musk’s electric-vehicle maker remains overpriced. NasdaqGS – Delayed Quote • USD At close: March 10 at 4:00:03 PM EDT The company’s market capitalization has dropped 45% since hitting an all-time high of $1.5 trillion on December 17, erasing most of the gains the stock made after CEO Musk helped finance the election victory of U.S. President Donald Trump. And yet Tesla continues to fetch a valuation far above those of the world’s biggest automotive and technology…

By Arathy Somasekhar HOUSTON (Reuters) – U.S. oil and gas producers are unlikely to increase spending this year and output increases will primarily come from improved efficiencies rather than new drilling, Baker Hughes (BKR) Chief Executive Lorenzo Simonelli said on Monday. NasdaqGS – Delayed Quote • USD At close: March 10 at 4:00:00 PM EDT The outlook comes as U.S. President Donald Trump’s administration has repeatedly exhorted the industry to “Drill, baby, drill,” to maximize oil and gas production and reduce consumer energy costs. Still, oil prices have fallen this year and many producers remain focused on capital discipline over…

By Michael S. Derby (Reuters) -Americans grew more worried about the economic outlook in February even as their expectations of the future path of inflation were little changed, a report on Monday from the Federal Reserve Bank of New York said. According to the bank’s latest Survey of Consumer Expectations, inflation a year from now is seen at 3.1%, up a hair from January’s 3% reading, while the projected level of inflation three and five years from now was unchanged relative to January at 3%. The Fed wants inflation at 2%. The bank’s relatively calm outlook for inflation contrasted, however,…

(Reuters) – Artisan Partners, a U.S.-based investor in Seven & i Holdings, on Sunday opposed the Japanese retailer’s CEO succession plan and urged the company to reconsider a takeover offer, according to a letter to the board. Last week, the 7-Eleven convenience store operator named Stephen Dacus as CEO to lead its recovery and respond to a $47 billion takeover offer from Canada’s Alimentation Couche-Tard. In the letter, Artisan Partners opposed Dacus’s selection and urged Seven & i to engage with Couche-Tard about its buyout proposal to maximize shareholder value. Couche-Tard did not immediately respond to a Reuters request for…

By Canan Sevgili, Paolo Laudani, Alessandro Parodi and Alberto Chiumento (Reuters) – Five years after the World Health Organization first described the COVID-19 coronavirus outbreak as a pandemic, its effects are still being felt on the global economy. COVID-19 and efforts to contain it triggered record government debt, hit labour markets and shifted consumer behaviour. Inequality has increased, while remote work, digital payments and changes in travel patterns have endured. Though the immediate shock has passed, COVID-19’s legacy continues to reshape global economies and markets. Here are some of the main impacts. Debt, inflation and interest rates After countries borrowed…

By Leika Kihara TOKYO (Reuters) – Japan must fix “any misunderstanding” held by U.S. President Donald Trump that its central bank was intentionally weakening the yen with monetary policy, former Bank of Japan Governor Haruhiko Kuroda said. Trump said on Monday he had told Japan and China they could not continue to reduce the value of their currencies, as doing so would be unfair to the United States. Asked about Trump’s comment on Friday night, Kuroda told a Japanese television interviewer there were limits to what Japan could do to prop up the yen if the dollar were to rise…

By Jody Godoy (Reuters) -The U.S. Department of Justice on Friday dropped a proposal to force Alphabet’s Google to sell its investments in artificial intelligence companies, including OpenAI competitor Anthropic, to boost competition in online search. The DOJ and a coalition of 38 state attorneys general still seek a court order requiring Google to sell its Chrome browser and take other measures aimed at addressing what a judge said was Google’s illegal search monopoly, according to court papers filed in Washington. “The American dream is about higher values than just cheap goods and ‘free’ online services. These values include freedom…

By Akash Sriram (Reuters) – Shares of Intuitive Machines slumped to close 22% lower on Friday after the U.S. space exploration company confirmed that its second moon lander, Athena, landed on its side a day ago, similar to its first attempt last year. The six-legged lander touched down at a site about 100 miles (160 km) from the moon’s south pole, but Intuitive Machines ended the mission as the spacecraft wound up on its side after completing several mission milestones. “With the direction of the sun, the orientation of the solar panels, and extreme cold temperatures in the crater, Intuitive…