France's Schneider Electric announces $700 mn investment in US for AI and energy / Photo: © AFP/File
-
East Timor mourns Pope Francis months after emotional visit
-
US envoy to visit Moscow as US pushes for ceasefire
-
At least 24 killed in Kashmir attack on tourists: Indian police source
-
Philippine typhoon victims remember day Pope Francis brought hope
-
IMF slashes global growth outlook on impact of Trump tariffs
-
BASF exits Xinjiang ventures after Uyghur abuse reports
-
Nordics, Lithuania plan joint purchase of combat vehicles
-
Gold hits record, stocks diverge as Trump fuels Fed fears
-
World could boost growth by reducing trade doubt: IMF chief economist
-
IMF slashes global growth outlook on impact of US tariffs
-
IMF slashes China growth forecasts as trade war deepens
-
Skipper Shanto leads Bangladesh fightback in Zimbabwe Test
-
US VP Vance says 'progress' in India trade talks
-
Ex-England star Youngs to retire from rugby
-
Black Ferns star Woodman-Wickliffe returning for World Cup
-
Kremlin warns against rushing Ukraine talks
-
Mbappe aiming for Copa del Rey final return: Ancelotti
-
US universities issue letter condemning Trump's 'political interference'
-
Pope Francis's unfulfilled wish: declaring PNG's first saint
-
Myanmar rebels prepare to hand key city back to junta, China says
-
Hamas team heads to Cairo for Gaza talks as Israel strikes kill 26
-
Pianist to perform London musical marathon
-
India's Bumrah, Mandhana win top Wisden cricket awards
-
Zurab Tsereteli, whose monumental works won over Russian elites, dies aged 91
-
Roche says will invest $50 bn in US, as tariff war uncertainty swells
-
Pope Francis's funeral set for Saturday, world leaders expected
-
US official asserts Trump's agenda in tariff-hit Southeast Asia
-
World leaders set to attend Francis's funeral as cardinals gather
-
Gold hits record, stocks mixed as Trump fuels Fed fears
-
Roche says will invest $50 bn in US over next five years
-
Fleeing Pakistan, Afghans rebuild from nothing
-
US Supreme Court to hear case against LGBTQ books in schools
-
Pistons snap NBA playoff skid, vintage Leonard leads Clippers
-
Migrants mourn pope who fought for their rights
-
Duplantis kicks off Diamond League amid Johnson-led changing landscape
-
Taliban change tune towards Afghan heritage sites
-
Kosovo's 'hidden Catholics' baptised as Pope Francis mourned
-
Global warming is a security threat and armies must adapt: experts
-
Can Europe's richest family turn Paris into a city of football rivals?
-
Climate campaigners praise a cool pope
-
As world mourns, cardinals prepare pope's funeral
-
US to impose new duties on solar imports from Southeast Asia
-
Draft NZ law seeks 'biological' definition of man, woman
-
Auto Shanghai to showcase electric competition at sector's new frontier
-
Tentative tree planting 'decades overdue' in sweltering Athens
-
Indonesia food plan risks 'world's largest' deforestation
-
Gold hits record, stocks slip as Trump fuels Fed fears
-
Trump helps enflame anti-LGBTQ feeling from Hungary to Romania
-
Woe is the pinata, a casualty of Trump trade war
-
'Like orphans': Argentina mourns loss of papal son
NYSE - LSE
France's Schneider Electric announces $700 mn investment in US for AI and energy
French electrical equipment company Schneider Electric said on Wednesday it plans to invest "more than $700 million" in the United States by 2027 to boost energy security and the growth of artificial intelligence.
The company, which generates more than a third of its revenue in the United States, intends to "support the country's focus on bolstering the nation's energy infrastructure to power AI growth, boost domestic manufacturing, and strengthen energy security", according to a press release.
"This new planned investment is expected to create over 1,000 new jobs and help Schneider Electric continue to play a leading role in shaping a more innovative, affordable, and energy-efficient future in the U.S.", it said. The French company already employs 21,000 staff in the country.
Schneider's announcement comes amid President Donald Trump's promise to impose "reciprocal" customs duties on all US trading partners, in the hope of attracting more foreign manufacturers.
"Schneider Electric's significant investment is a clear sign that manufacturing in America is moving forward -- driving economic growth, innovation and job creation across the country," National Association of Manufacturers President Jay Timmons was quoted as saying in the communique.
Y.Bouchard--BTB