(Reuters) -Rivian Automotive said on Thursday it has received $827 million in incentives from the State of Illinois to expand operations at its Normal facility in the state.
The company's shares rose nearly 7% in afternoon trade. It had said it would delay construction of a second factory in Georgia.
Its less expensive R2 model unveiled in March would be produced at its first plant in Normal, Illinois, it had then said.
WASHINGTON (Reuters) - The Federal Communications Commission (FCC) said on Thursday nearly 40% of U.S. telecom companies need additional government funding to remove equipment made by Chinese telecoms firms Huawei and ZTE from American wireless networks to address security risks.
The FCC said removing the equipment is estimated to cost $4.98 billion but Congress has only approved $1.9 billion.
FCC Chair Jessica Rosenworcel on Thursday... (continue reading...)
By Sam Tobin
LONDON (Reuters) - An Israeli private investigator wanted by the United States was arrested in London over allegations that he carried out a cyberespionage campaign on behalf of an unidentified American PR firm, a London court heard on Thursday.
An initial attempt to extradite Amit Forlit to the United Sates was thrown out by a judge at Westminster Magistrates' Court on Thursday on a legal technicality.
Amy... (continue reading...)
By Alex Lawler
LONDON (Reuters) - OPEC+ oil producers are making voluntary output cuts totalling about 2.2 million barrels per day (bpd) for the first half of 2024, led by Saudi Arabia rolling over an earlier voluntary cut.
These curbs from the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, come on top of earlier reductions announced in various steps since late 2022 and bring the total pledged cuts to about... (continue reading...)
ISLAMABAD (Reuters) - Pakistan will push back the deadline for companies to express interest in buying national carrier Pakistan International Airlines to May 18, the country's privatisation minister said on Thursday.
The extension, announced in a statement by Minister for Investment and Privatisation Abdul Aleem Khan, came a day before the expressions of interest had originally been due. He said 10 companies had already expressed an interest.
... (continue reading...)More Reuters
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