By Gilles Guillaume and Nick Carey PARIS (Reuters) -French carmaker Renault said on Friday that “all options are on the table” for separating its electric vehicle (EV) business, including a possible public listing in the second half of 2023. Thierry Piéton, Renault’s finance chief, said that any plans were subject to approval from its alliance…
By Niklas Pollard STOCKHOLM (Reuters) -Swedish truck maker AB Volvo reported a surprise rise in first-quarter core earnings on Friday, as it juggled strong market demand with a strained supply chain that has limited its capacity to keep up with orders. The rival of Germany’s Daimler Truck and Traton also said it expected supplies of…
NEW YORK (AP) — Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank’s efforts to fight inflation. Several disappointing profit reports from companies also shook what’s been the market’s main pillar…
By Aftab Ahmed NEW DELHI (Reuters) -The Indian government is planning to raise about 300 billion rupees ($3.9 billion), half of what it had earlier estimated, from selling a stake of just over 5% in Life Insurance Corporation of India, a government source told Reuters. LIC is now valued at around 6 trillion rupees, significantly…
By Victoria Waldersee BERLIN (Reuters) – Germany’s industrial heavyweights are teaming up to retrain workers in areas such as software and logistics to fill a growing skills gap and avoid layoffs among workers of all ages as the economy shifts to clean energy and online shopping. More than 36 major companies, ranging from auto suppliers…
ZURICH (Reuters) -Holcim raised its full-year sales outlook on Friday after the world’s biggest cement maker beat analyst forecasts for sales and profit during the first quarter. The Swiss company said it now expects sales growth of 8% on a like-for-like basis, which cuts out the impact of acquisitions and divestments and currency swings, and…
STOCKHOLM (Reuters) -Swedish truck maker AB Volvo reported first-quarter core earnings well above market expectations on Friday as it juggled strong market demand with a strained supply chain that put a cap on its ability to grow order books. The rival of Germany’s Daimler Truck and Traton also said it expected supplies of components to…
By Sonali Paul and Isabel Kua (Reuters) -Oil prices extended losses on Friday, heading for a 4% weekly drop and burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even as the European Union weighed a ban on Russian oil. Brent crude futures were down $1.17, or…
By Daniel Leussink TOKYO (Reuters) – The Bank of Japan (BOJ) should revise its yield curve control (YCC) policy or scrap it if the benchmark Japanese government bond (JGB) yield keeps rising to the upper limit of the central bank’s range, one third of economists surveyed by Reuters said. The BOJ in recent weeks has…
By Arsh Tushar Mogre and Devayani Sathyan BENGALURU (Reuters) – South Korea’s economic growth likely slowed significantly in the first quarter as restrictions imposed to prevent the spread of COVID-19 slammed the brakes on consumer spending, a Reuters poll found. Asia’s fourth-largest economy is expected to have expanded by a seasonally adjusted 0.6% in the…
