LOS ANGELES (AP) — Sales of previously occupied homes rose in January as a surge in buyers with cash and others eager to avoid higher mortgage rates snapped up properties, leaving the number of available houses on the market at a record low. Existing home sales rose 6.7% last month from December to a seasonally…
BERLIN (Reuters) – Lufthansa will not impose compulsory job cuts, the German airline said on Friday, as it cuts costs nearly two years into the coronavirus pandemic that left the industry reeling. The company said voluntary redundancy programmes and part-time solutions would reduce numbers in a socially responsible manner. “We have worked hard in recent…
VILNIUS (Reuters) – Continental will continue investing in a factory in Lithuania, an executive was quoted saying, despite a diplomatic dispute between Beijing and the Baltic state that has threatened to embroil the German car parts maker. Two people familiar with the matter told Reuters in December that China was pressuring Continental to stop using…
LONDON (Reuters) -Britain’s Virgin Media O2 said on Friday its two owners were in talks with financial partners about funding a fibre network covering seven million premises, stepping up its challenge to BT in the race to roll out ultrafast connections. The broadband and mobile provider, a joint venture between Liberty Global and Telefonica, will…
JAKARTA (AP) — Finance leaders of the world’s biggest economies called Friday for a cautious and well coordinated approach to navigating recoveries from the pandemic. Finance ministers and top central bankers of the Group of 20 industrial nations agreed on a need to carefully calibrate moves by the U.S. and other countries to combat inflation…
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…
