Sharp and Foxconn heed the ‘America first’ call
Japanese display maker Sharp Corp may start building a $7 billion plant in the United States in the first half of 2017, taking the lead on a project initially outlined by its Taiwanese parent Foxconn, a person with knowledge of the plan said. The report comes as Japan’s prime minister Shinzo Abe prepares to travel to the United States to meet President Donald Trump, bringing with him a plan to create as many as 700,000 U.S. jobs. Reuters’ Yakiko Yamazaki reports.
When the Italian central bank’s deputy governor joined a radio phone-in show last week, many callers asked why Italy didn’t ditch the euro and return to the lira. A few years ago, that would not have been up for public discussion. Now, with the possibility of an election by June, politicians of all stripes are tapping into growing hostility toward the euro. Many Italians hold the single currency responsible for economic decline since its launch in 1999. Reuters’ Gavin Jones reports from Rome.
Cheating in the cheating investigation
Fiat Chrysler vehicles were allowed to skip key tests for illegal engine software during Italy’s main emissions-cheating investigation, according to the transport ministry’s own report. The report, presented to a European parliamentary committee in October but never officially published, will be seized upon by environmental groups pressing MEPs to vote on Thursday for tougher EU oversight of vehicle testing by national authorities. Reuters’ Laurence Frost reports from Paris, and Silvia Aloisi reports from Milan.
Exclusive: Trump aims at conflict-minerals rule
President Donald Trump is planning to issue an executive order targeting a U.S. rule that requires companies to disclose whether their products contain “conflict minerals” from a war-torn part of Africa, according to sources familiar with the administration’s thinking. Reuters’ Sarah Lynch and Emily Stephenson report.
The return of the widowmaker
After several years of neglect, oil investors are again betting on the price difference between two global benchmarks, Brent and U.S. crude futures, due to a push in Washington to impose a controversial import tax. This trade, nicknamed the “widowmaker” for its high level of risk, fell out of favor about four years ago when the two contracts resumed moving in tandem, reducing the spread volatility on which it depended. Reuters’ Dmitry Zhdannikov and Amanda Cooper explain how it works.
Reuters photo of the day
Heckle and Jeckle
here Donald Trump supporter, on the right, argues with a protester as New York City high school students look on during a protest against Trump's immigration policies in Manhattan. REUTERS/Mike Segar