The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
Investors bought bank stocks because there's a chance the Federal Reserve's interest rate cut may "put an end to this artificially inverted yield curve," Jim Cramer says.Mad Money with Jim Cramerread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Microsoft shares rose 1% after hours as it announced plans to raise its dividend and authorized as much as $40 billion to buy back shares.Technologyread more
The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
SEOUL, Aug 28 (Reuters) - South Korea's LG Chem Ltd is pushing for the localisation of some battery parts in an effort to reduce its dependence on Japan amid a deepening political and economic feud, its president said on Wednesday.
LG Chem, which counts the likes of Apple Inc and General Motors as customers for batteries used in phones and electric vehicles, is bracing for the possible fallout from an escalating trade spat with Japan stemming from the latter's wartime past.
Effective Wednesday, Tokyo dropped South Korea from a so-called "white list" of favoured trade partners, which could lead to more paperwork and on-site inspection for some Japanese exporters.
Speaking at a battery conference, Kim Myung Hwan, president of LG Chem, said the company is testing products of South Korean pouch film maker YoulChon Chemical Co Ltd, citing uncertainty about Japan imports.
LG Chem has relied heavily on Japan's Dai Nippon Printing Co Ltd and Showa Denko KK for pouches for its lithium-ion batteries. The combined market share in the global battery pouch market of the two Japanese companies is about 70%, according to industry tracker SNE Research.
"I expect we wouldn't have any issues with those Japanese suppliers if they follow the compliance rules, but we are in the situation where the Japanese government could say different things if they wanted," Kim added.
Changing suppliers will not be easy, however, as it will take quite some time for LG Chem to run a series of tests and discuss the matter with clients, said an industry source with knowledge of the matter.
LG Chem's comments came as the South Korean government said on Wednesday it would invest more than 5 trillion won ($4.12 billion) in research and development for local materials, parts and equipment between 2020 and 2022. (Reporting by Heekyong Yang; Additional reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman)