By Giulio Piovaccari and Gilles Guillaume MILAN (Reuters) – Stellantis beat its profitability target in the first year following its creation from the merger of Fiat Chrysler and Peugeot maker PSA, boosting hopes the automaker can cope with rising raw material costs and a shortage of semiconductor chips. Milan-listed shares in the world’s No.4 carmaker…
It isn’t hard to see that the writing is on the wall for the V8-powered performance coupe. Tightening fuel economy and emissions standards, rising gas prices and the arrival of performance-oriented electric vehicles all point to the end of this famous automotive recipe. When the end will come, we don’t know exactly. But even Dodge…
By Victoria Waldersee BERLIN (Reuters) – Tesla may lose the water supply contract for its long-delayed German plant if environmental groups win a court case challenging a licence granted to its water supplier at a hearing next week. The Frankfurt Oder administrative court will hear on March 4 a complaint filed by local groups claiming…
By Rowena Edwards LONDON (Reuters) – Oil prices on Wednesday fell from seven-year highs hit the previous day after a first wave of U.S. and European sanctions on Russia appeared unlikely to disrupt oil supplies. Brent crude was down 27 cents, or 0.2%, to $96.57 a barrel at 1247 GMT, after hitting $99.50 on Tuesday,…
BRUSSELS (Reuters) – Amazon, Microsoft, other cloud services providers and data processing service providers will have to adopt safeguards to prevent non-EU governments gain illegal access to EU data, according to European Commission draft rules. The Data Act, published on Wednesday, lays out rights and obligations on the use of data from consumers and companies…
LONDON (Reuters) – Britain is ready to guarantee up to $500 million (367.62 million pounds) in loans to support Ukraine and help mitigate the economic effects of Russian aggression, the foreign office said on Wednesday. Britain is offering guarantees of Multilateral Development Bank lending for projects that will support economic stability and reforms such as…
By Nichola Groom (Reuters) – The United States will hold its biggest ever sale of offshore wind development rights on Wednesday, in an area covering nearly half a million acres off the coasts of New York and New Jersey. It will be the first offshore wind lease sale under the administration of President Joe Biden,…
BARCELONA, Spain (AP) — The leader of Spain’s main opposition party, Pablo Casado, will meet fellow conservative heavyweights on Wednesday night with his future at risk amid an ugly clash with a Popular Party rival that included public accusations of corruption and political espionage. The meeting scheduled for 1900 GMT (2 p.m. EST) comes a…
FRANKFURT, Germany (AP) — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group and would pay out record profit-sharing checks to unionized U.S. workers. The earnings nearly tripled profits compared with its pre-merger existence…
By Rowena Edwards LONDON (Reuters) -Oil prices fell on Wednesday, retreating from seven-year highs hit the previous day as it became clear that the first wave of U.S. and European sanctions on Russia were unlikely to disrupt oil supplies. Brent crude was down 59 cents, or 0.6%, to $96.25 a barrel at 1027 GMT, after…
