US electric car maker Tesla resumed production at its Shanghai plant on Tuesday after city authorities issued guidelines to restore production after a general lockdown due to the largest COVID-19 outbreak, China Daily reported on Wednesday. The plant's employees, numbering about 8,000, returned to their workplaces as early as Monday and Sunday, making it possible to resume work in the battery and...

Net income of the U.S. banking giant Bank of America Corp. (BofA), which is attributable to shareholders, fell 12.7 percent in the first quarter compared with the same period last year to $6.6 billion, the bank said in a statement. Diluted earnings per share for the period were $0.8 compared with $0.86 in the first quarter a year ago. Revenue net of interest expense was $23.228 billion, up 1.7...

In March, Boeing Co. received 53 orders for the supply of aircraft against 37 orders in February. American concern Boeing Co., one of the world's largest manufacturers of aviation, space and military equipment, in March received 53 orders for the supply of aircraft against 37 orders in February; the actual supplies jumped almost twice - up to 41 aircraft with 21 liners in February, follows from a...

The world's largest independent oil trader Vitol Group intends to completely stop selling oil and petroleum products from Russia, the Bloomberg agency reports with reference to the company's representative. According to the statement, the volume of Russian oil processed by Vitol, "will be significantly reduced in the second quarter as the current contractual obligations are falling down." The...

Due to withdrawal from Russian suppliers, the largest aircraft manufacturers began to buy titanium from Japan, writes Bloomberg. Japan's Toho Titanium Co. has begun receiving orders from U.S. aviation customers because Boeing has stopped buying from Russia. The Japanese company is hastily boosting production of the metal, which is used to make airplanes. Boeing Co. and Airbus SE are facing...

Oil company director in the U.S. blamed Biden for rising gasoline pricesHead of Canary: gasoline prices have been rising throughout the entire U.S. administration of Biden. The main reason for the rise in gasoline prices in the U.S. was the ineffective policy of President Joe Biden, rather than the Ukrainian crisis or the actions of oil producers, said the head of the American company Canary Dan...

According to Bloomberg, which cites persons familiar with the issue, the United States and members of the International Energy Agency (IEA) plan to transfer 240 million barrels of oil from strategic reserves to the market. "In addition to the 180 million barrels of oil already announced by (US president) Joe Biden from strategic reserves, US allies at the International Energy Agency will release...

Losses of JP Morgan Chase, one of the world's largest investment banks, due to Russia's military operation in Ukraine could amount to about $1 billion, the bank's head Jamie Dimon said. "We're not concerned about direct engagement with Russia, although we could still lose about $1 billion," Mr. Dimon said in a letter to investors cited by Reuters. The bank predicts the confllict in Ukraine and...

Chinese online clothing retailer Shein is preparing for an investment round in which the company could be valued at $100 billion, Bloomberg reported citing knowledgeable sources. According to them, Shein is already in talks with potential investors and expects to attract about $1 billion. The agency's interlocutors noted that discussions will continue, so the planned amount of funds raised and...