FRANKFURT (Reuters) – Volkswagen late on Sunday unveiled the pricing for the planned initial public offering of Porsche AG, giving the luxury sportscar division a valuation of up to 75 billion euros ($74.97 billion). Here are key facts about the structure of the planned landmark listing: SHARE CAPITAL – Porsche’s share capital is being split…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain.” On Wednesday, Americans may get a better sense of how much pain could be in store. The Fed is expected at its latest meeting…
By Alex Lawler LONDON (Reuters) -Oil fell by more than 2% on Monday, pressured by expectations of weaker global demand and by U.S. dollar strength ahead of possible large increases to interest rates, though supply worries limited the decline. Central banks around the world are certain to increase borrowing costs to tame high inflation this…
FRANKFURT, Germany (AP) — Volkswagen has set the price range for the multibillion-euro sale of a minority stake in luxury brand Porsche as it prepares an initial public offering to fund VW’s investments in new technologies and businesses including electric cars, software and services. The German automaker said it aims for a listing on the…
By Miranda Murray, Rachel More and Tassilo Hummel BERLIN/PARIS (Reuters) -European governments outlined new measures on Monday to cope with potential energy shortages this winter and raced to improve energy networks to share power, with Russian gas flows still running at severely reduced rates amid the Ukraine war. Germany said it was expecting to sign…
(Reuters) -Shares of Take-Two Interactive Software Inc tumbled nearly 6% in premarket trading on Monday following a report that a hacker had leaked the early footage of Grand Theft Auto VI, the next installment of the best-selling videogame. The unprecedented leak included dozens of videos showing robberies, gunplay and open-world driving and was posted on…
(Reuters) – Wall Street futures fell on Monday, with rate-sensitive technology and growth stocks leading the declines as investors worried that another massive interest rate hike by the Federal Reserve could tip the U.S. economy into a recession. The S&P 500 and the Nasdaq logged their worst weekly percentage drop since June on Friday as…
MADRID (Reuters) – Amazon.com Inc has suspended the construction of new warehouses in Spain until 2024, Spanish news website El Confidencial said on Monday, citing unidentified company sources. El Confidencial said the U.S. e-commerce giant told its providers and partners to “wait and see” as pandemic-driven online shopping has slowed down. Amazon said in an…
SHANGHAI (Reuters) – Tesla completed a project to expand production capacity at its Shanghai plant on Monday, according to a statement on a Shanghai government platform for companies’ environmental information disclosures. Tesla will test the production lines for the upgrade during From Sept. 19 to Nov. 30, the statement added. Reuters previously reported Tesla had…
(Refiles to add missing word in headline) BERLIN (Reuters) – Volkswagen shares were up 3% in premarket trade on Monday, topping the German blue-chip index, after the carmaker said on Sunday it was targeting a valuation for luxury sportscar brand Porsche of up to 75 billion euros ($74.84 billion). Shares in Porsche Holding SE, Volkswagen’s…
