DETROIT (AP) — Prices of new and used automobiles are staggeringly high, and that’s partly responsible for strong earnings last year by AutoNation, the country’s largest dealership group. Mike Manley, CEO of the Fort Lauderdale, Florida, company, said used-vehicle prices are starting to ease a bit, but he doesn’t think new-vehicle supplies will improve much…
(Reuters) – Deere & Co on Friday lifted its full-year profit forecast, as it expects to benefit from solid demand for its tractors and combines from farmers flush with cash after a run-up in grain prices. The Moline, Illinois-based company forecast fiscal 2022 profit between $6.7 billion to $7.1 billion, up from its prior expectation…
By David Milliken LONDON (Reuters) – British shoppers began to return to stores last month after many stayed away during a wave of COVID-19 cases that peaked at the turn of the year, although fast-rising inflation is curbing their spending power. Retail sales volumes rose by 1.9% in January after a 4.0% decline in December,…
BEIJING (Reuters) – Huawei Technologies will spend 4 billion yuan ($632.52 million) to build a new headquarters and R&D centre for its digital power unit, according to local media reports, as the Chinese telecoms giant diversifies amid U.S. pressure. Huawei Digital Power signed an agreement on Thursday with the local government of the southern metropolis…
By Rajendra Jadhav MUMBAI (Reuters) – Indian traders have contracted to import a record 100,000 tonnes of soyoil from the United States because of limited supplies from drought-hit South America, at a time when prices of rival palm oil are scaling record highs, three dealers told Reuters. The higher purchases from the United States are…
BEIJING (Reuters) -Sales of new energy vehicles (NEVs) in China fell 18.6% month-on-month in January after the country cut subsidies for NEVs by 30%, industry data showed on Friday. Sales of NEVs, which include battery-powered electric vehicles, plug-in petrol-electric hybrids and hydrogen fuel-cell vehicles, in January reached 431,000, representing an annual increase of 135.8%, according…
PARIS (Reuters) -Renault plans to repay the state aid it received in the coronavirus pandemic ahead of schedule, the French carmaker said on Friday, after it swung to profit in 2021, beating expectations as it reversed out of two straight years of losses. The group had already repaid 1 billion out of 4 billion euros…
By Byron Kaye SYDNEY (Reuters) – An Australian state ordered Amazon.com Inc on Friday to pay a minimum rate to freelance delivery drivers, a decision hailed by a union as making it the world’s first jurisdiction to compel the retailer to follow government rules on such payments. The measure, to be phased in over three…
Stocks capped a week of volatile trading on Wall Street with a broad sell-off Friday that left the major indexes with their second straight weekly loss. The selling lost some momentum into the afternoon, but the intensified again in the final hour of trading. The S&P 500 and the Dow Jones Industrial Average each fell…
(Reuters) -Sika posted a 27.1% jump in full-year net profit on Friday and proposed a 16% higher dividend, as the Swiss construction chemicals maker benefited from an upturn in building projects after the pandemic and a raft of acquisitions. The company, which makes products used in reinforcing and waterproofing concrete, posted earnings before interest and…
