By Rowena Edwards London (Reuters) -Oil prices extended losses on Friday and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis. Brent crude futures fell $1.54, or 1.6%, to $91.43 a barrel by 1236 GMT, extending a 1.9% drop…
By Tina Bellon, Hyunjoo Jin and David Shepardson (Reuters) – Tesla Inc’s ability to quickly issue safety patches via remote software updates is an approach other automakers eye enviously, but that also carries risk as cars become more like rolling computers. Investors have awarded Tesla’s leadership on in-car software with a market value of $905…
(Reuters) -Following are some excerpts taken from Singapore’s 2022 budget proposals announced by Finance Minister Lawrence Wong to parliament on Friday. For a full story, see SUPPORT PACKAGES – “There are segments of the economy still struggling. I will therefore provide targeted help for our workers and businesses in these sectors through a S$500 million…
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…
