India's Reliance warns tariff jitters may hit demand-supply balance
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Reuters
an hour ago
- Reuters
US court reinstates $81 million award against Boeing in trade secrets case
Aug 14 (Reuters) - A U.S. appeals court on Thursday reinstated an $81 million award against Boeing (BA.N), opens new tab in a lawsuit accusing it of stealing trade secrets from electric-aircraft startup Zunum Aero. The 9th U.S. Circuit Court of Appeals overturned, opens new tab a California judge's decision to throw out a jury verdict for Zunum, rejecting his finding that the information Boeing allegedly stole was not entitled to trade-secret protection. A spokesperson for Boeing declined to comment on the appeals court's decision. Zunum attorney Vincent Levy of Holwell Shuster & Goldberg said that the decision "affirms what we have said from the start — that Zunum had an enormous opportunity to remake air travel, but Boeing took that opportunity away." Washington State-based Zunum was founded in 2013 to develop small electric commuter aircraft that can travel up to 1,500 miles. Boeing's venture capital arm invested $5 million in the startup in 2017. Zunum said in a 2020 lawsuit that it planned to begin selling its planes in 2022 but halted development after Boeing allegedly blocked its access to capital. The complaint said that Boeing developed its hybrid commuter aircraft using Zunum's trade secrets. A federal jury last May awarded Zunum nearly $81.2 million from Boeing for trade secret theft and $11.6 million for tortious interference, but reduced the total award to $72 million based on damages that it said Zunum could have mitigated. U.S. District Judge James Robart later set the final award at $81 million, but overturned the verdict last August after determining that Zunum did not adequately identify its secrets or show that they derived their value from being kept secret. The 9th Circuit said on Thursday, however, that Zunum had provided "sufficient specificity" for the jury to find that its secrets were legally protectable as well as "not generally known, not readily ascertainable, and valuable." The appeals court also ordered the case to be assigned to a new judge after Robart revealed that his wife had acquired Boeing stock through a retirement savings account during the litigation. The case is Zunum Aero Inc v. Boeing Co, 9th U.S. Circuit Court of Appeals, No. 24-5212. For Zunum: Vincent Levy of Holwell Shuster & Goldberg For Boeing: Moez Kaba of Hueston Hennigan Read more: Boeing hit with $72 mln verdict in EV aircraft trade secrets case Boeing should pay more than $300 mln after US verdict, EV aircraft maker says Boeing convinces US judge to overturn $72 mln trade-secrets verdict
Reuters
3 hours ago
- Reuters
Canada looking at support for canola farmers hit by China tariffs, says Carney
OTTAWA, Aug 14 (Reuters) - Canada is focusing on a series of measures to support canola farmers hit by China's latest tariffs, Prime Minister Mark Carney said on Thursday, but did not give specific details. In a post on X, Carney also said Ottawa would advance a constructive dialogue with China to address trade concerns while diversifying its foreign trade.
Auto Blog
4 hours ago
- Auto Blog
Chevy's Next Van Could Be a Rebadged Hyundai Staria 'Spaceship'
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. General Motors might be about to replace its aging Express and Savana vans with something straight out of a sci-fi sketchbook. According to reports, Chevy's next light commercial vehicle could be a rebadged Hyundai Staria — the futuristic van currently sold in Asia and Europe. The move comes as GM deepens its product-sharing alliance with Hyundai, with five co-developed vehicles planned by 2028. It's a surprising turn for a brand more often associated with full-size pickups, muscle cars like the rumoured 1,000-horsepower Camaro ZL1 crossover, and giant EV trucks, but it could breathe life into a commercial lineup that's been stuck way back into the early 2000's. 1 / 2 Zoom In Launch Gallery A GM-Hyundai Partnership With Range Under the deal, Hyundai will provide the basic platform and drivetrain technology, while GM handles exterior design tweaks and the all-important Chevrolet badging. The Staria's space-age looks — tall beltline, wraparound glass, and cab-forward stance — would be a shock to traditional van buyers, but GM sees opportunity in offering something distinctive to fleets and small businesses. Hyundai has electric and hybrid versions ready, and an American-market Staria could sit alongside Chevy's other EV projects, including the record-setting Silverado EV, which recently covered more than 1,000 miles without charging. 1 / 2 Zoom In Launch Gallery From Spaceship to Showroom If it arrives in North America, the van could be built domestically starting in 2028, with passenger and cargo configurations aimed at both retail buyers and commercial operators. Hyundai's global Staria lineup includes all-electric PBV (purpose-built vehicle) variants and efficient turbo-hybrids — powertrains that would give Chevy a modern edge in a segment dominated by boxy, thirsty rivals. For Chevrolet, which still sells one of the cheapest cars in America alongside high-end sports cars, this sort of versatility is part of a broader strategy to cover more of the market without huge in-house development costs. 1 / 2 Zoom In Launch Gallery A Bold Bet on Style and Substance Whether American van buyers are ready for something that looks more like a Star Trek shuttle than a cargo hauler remains to be seen. Yet the move is somewhat sensible: GM gets a fresh, efficient, and safety-tech-packed product years sooner than it could develop one from scratch. For Hyundai, it's a way to push more volume through its PBV platform while reaching markets where it has little van presence. If Chevy can combine Hyundai's engineering with a price point and dealer network that makes sense, the 'spaceship van' might just succeed in a segment that rarely makes headlines. About the Author Max Taylor View Profile
