Foxconn nears deal to supply electric buses to Mitsubishi Fuso, Nikkei reports
(Reuters) -Foxconn is nearing a deal to supply electric buses to Japanese commercial automaker Mitsubishi Fuso Truck and Bus, Japan's Nikkei newspaper reported on Thursday, citing a source close to the Taiwanese chipmaker.
Mitsubishi Fuso, owned by Daimler Truck, plans to sell the Model T bus and Model U microbus, both developed by Foxconn, under its own brand, the report said.
Mitsubishi Fuso and Foxconn are looking to create a new company to oversee the buses, according to the report.
The Taiwanese chipmaker said in a briefing in April it intends to roll out the Model T and Model U buses in Japan in 2027.
Foxconn did not immediately respond to a Reuters request for comment.
Daimler Truck declined to comment on the report.
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3 hours ago
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Morning Bid: Wall St flirts with new record
By Mike Dolan LONDON (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets The glass appears half full once again. With midyear approaching, the main Wall Street stock indexes are back within a hair's breadth of new records, helped along by a weakening dollar, the prospect of lower borrowing rates, increasing trade optimism and a renewed focus on the artificial intelligence theme. Throw in some positive tax and regulatory twists, and now we're likely to see new highs for the S&P 500 and Nasdaq later today. It's Friday, so today I'll provide a quick overview of what's happening in global markets and then offer you some weekend reading suggestions away from the headlines. 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While markets awaited the latest U.S. May inflation update later on Friday - with oil prices brushing off the latest Middle East conflict to resume a near 20% year-on-year drop - two and 10-year Treasury yields fell to their lowest since early May on Thursday. The bond market has been soothed in part by this week's Fed proposal on overhauling how much capital large global banks must hold against relatively low-risk assets, part of a bid to boost banks' participation in Treasury markets. But markets got a further lift overnight from signs of some movement on bilateral trade negotiations ahead of July 9's expiry of the 90-day pause on Trump's sweeping tariff hikes. The White House said the United States reached an agreement with China on how to expedite rare earth shipments to the U.S. European Union leaders discussed new proposals from the United States on a trade deal at a summit in Brussels late on Thursday, with Commission President Ursula von der Leyen saying "all options remain on the table". German Chancellor Friedrich Merz urged the EU to do a "quick and simple" trade deal rather than a "slow and complicated" one, even as French President Emmanuel Macron struck a cautious note. And while the U.S. fiscal bill is still struggling through the Senate, there was an important development on tax provisions that may ease foreign investor concerns. Treasury Secretary Scott Bessent asked Republicans in Congress to remove a "retaliatory tax" proposal - the controversial Section 899 that targets foreign investors with higher tax in retaliation for any overseas disputes. 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Elsewhere, stocks in Europe were sharply higher on Friday - chiming with Wall Street. They have been boosted by the defense spending push at this week's NATO summit and as details of Germany's big fiscal stimulus unfolded. German lawmakers on Thursday passed a multi-billion-euro package of fiscal relief measures to support companies and boost investment, involving corporate tax breaks amounting to almost 46 billion euros ($54 billion) from this year through to 2029. Despite the positive noises on a U.S. trade deal, Chinese stocks bucked the global trend and were in the red on Friday. China's industrial profits swung back into sharp decline, falling 9.1% in May from a year earlier, as factory activity slowed in the face of broader economic stress. There was better news in Japan as core consumer inflation in Tokyo slowed sharply in June. Tech stocks led the Nikkei up more than 1%. 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Tom's Guide
4 hours ago
- Tom's Guide
Using the Canon EOS R50 V feels like riding a bike with training wheels on — and I think it's the smartest move Canon has made this year
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Indianapolis Star
7 hours ago
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Limited-edition HexClad cookware sets are up to 44% off for 4th of July 💥
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