MILAN (Reuters) – The automotive industry faces a shortage of batteries and raw materials in the coming years as part of its transition towards electric mobility, the head of Stellantis Carlos Tavares said on Tuesday. Speaking at the FT Future of the Car 2022 conference, Tavares said he could anticipate the industry could suffer supply…
By Timothy Aeppel (Reuters) – U.S. manufacturers are finding that their main weapon to fight supply chain snarls is greater inefficiency. Industrial companies reporting earnings over the past few weeks have described steps they’ve taken – from acquiring trucks to move their own goods to building products that sit around on factory floors waiting for…
By Mei Mei Chu and A. Ananthalakshmi KUALA LUMPUR (Reuters) -Malaysia’s commodities ministry has proposed cutting an export tax on palm oil by as much as half to help fill a global edible oil shortage and grow the market share of the world’s second-largest palm oil producer. Plantation Industries and Commodities Minister Zuraida Kamaruddin said…
TOKYO (AP) — Sony’s fiscal fourth quarter surged 67% to 111.1 billion yen ($852.7 million) from the previous year, as the Japanese entertainment and electronics company racked up profits in video game and movie divisions. Tokyo-based Sony Corp.’s January-March quarterly sales edged up 1% to 2.26 trillion yen ($17 billion), as its music operations also…
HONG KONG (Reuters) – Goldman Sachs has appointed banker E.G. Morse as a co-head of its China business and to lead the bank’s China global markets business, according to a memo seen by Reuters. Morse will relocate from Singapore to Shanghai and will serve as a co-head of Goldman Sachs China alongside Wei Cai and…
By Casey Hall SHANGHAI (Reuters) – What Ms. Zhang didn’t expect when she hunkered down for Shanghai’s citywide lockdown was complementary ready meals and desserts from luxury brands such as Louis Vuitton and Cartier to start arriving the very next day. Since the COVID-19 containment began on April 1, closing stores and paralysing online shopping,…
LONDON (AP) — Britain’s Conservative government set out its agenda for the next year on Tuesday with sweeping promises to cut crime, improve health care and revive the U.K.’s pandemic-scarred economy — but no new help for millions of Britons struggling to pay their bills as the cost of living soars. Prime Minister Boris Johnson…
KYIV (Reuters) – Ukraine’s central bank will allow foreign investors in domestic bonds to transfer abroad their income received from the bonds after April 1 next year, the bank has said. Foreigners held 75.2 billion hryvnias ($2.55 billion) of the bonds before Russia began its invasion on Feb. 24. But the portfolio shrank after the…
KUALA LUMPUR (Reuters) – Malaysia is considering cutting its export tax on palm oil and plans to slow implementation of its biodiesel mandate to help meet global demand amid an edible oil shortage, its commodities minister told Reuters on Tuesday. Plantation Industries and Commodities Minister Zuraida Kamaruddin said in an interview her ministry has already…
STOCKHOLM (AP) — Finland and Sweden are nearing decisions on whether to ditch their long-standing policy of military nonalignment and join NATO in the wake of Russia’s invasion of Ukraine. They would become the 31st and 32nd members of the trans-Atlantic alliance, which was founded by the U.S. and 11 other countries following World War…
