(Reuters) – CoverGirl parent Coty Inc posted quarterly revenue below estimates on Tuesday, as stringent COVID-19 curbs in some markets hurt demand for its high-end cosmetics and perfumes. Sales in Coty’s prestige division increased just 12% in the second quarter, compared with a 34% jump in the first, following stop-start lockdowns in Australia and New…
BERLIN (AP) — Germany’s health minister on Tuesday decried calls from the main opposition party to suspend the implementation of a COVID-19 vaccination mandate for health workers, saying this would send a dangerous signal that authorities are caving to anti-vaccine protests. Parliament in December approved the legislation that will require staff at hospitals and nursing…
WASHINGTON (Reuters) – U.S. small business confidence fell to an 11-month low in January amid persistent worker shortages and higher prices for materials, a survey showed on Tuesday. The National Federation of Independent Business said its Small Business Optimism Index dropped 1.8 points to 97.1 last month, the lowest reading since February 2021. Scarce workers…
BRUSSELS (Reuters) – The European Commission on Tuesday set out a billion-euro plan to boost its chip industry, including making it easier for EU governments to provide funding for first-of-a-kind factories, as the bloc tries to cut its dependence on U.S. and Asian companies. The move by the EU executive mirrors the $52 billion U.S….
LONDON (AP) — BP PLC reported its biggest full-year profit for eight years on Tuesday, its coffers boosted by soaring oil and gas prices that have hiked domestic fuel bills for millions of people. The British energy giant said its underlying replacement cost profit — the industry standard — was $12.8 billion for 2021, compared…
By Jane Lanhee Lee and Josh Horwitz SAN FRANCISCO/SHANGHAI (Reuters) -SoftBank Group Corp has shelved its blockbuster sale of Arm Ltd to U.S. chipmaker Nvidia Corp valued at up to $80 billion citing regulatory hurdles and will instead seek to list the company. Britain’s Arm, which named a new CEO on Tuesday, said it would…
STOCKHOLM (Reuters) -Volvo Cars will invest 10 billion crowns ($1.1 billion) in its manufacturing plant in Gothenburg in the next few years to prepare for production of fully electric cars, it said on Tuesday. The investment follows an announcement by Volvo and battery maker Northvolt last week to build a joint battery plant in Gothenburg,…
TOKYO (AP) — Japanese automaker Nissan swung back into the black for the quarter through December, despite shortages of computer chips that have hit the entire industry and many other manufacturers. Nissan Motor Co., allied with Renault SA of France, reported Tuesday a 32.7 billion yen ($284 million) profit for the fiscal third quarter, a…
TOKYO (AP) — SoftBank’s planned sale of the British semiconductor and software design company Arm to U.S. chip maker Nvidia has fallen through, but the Japanese technology investor immediately turned bullish on taking it public. SoftBank Group Corp. said Tuesday it plans an initial public offering of Arm after the intended sale to Nvidia failed…
By Sam Nussey TOKYO (Reuters) -SoftBank Group Corp reported on Tuesday a 97% tumble in quarterly profit and the collapse of a deal to sell chip designer Arm worth over $60 billion, mounting pressure on the Japanese conglomerate to support its sagging shares. SoftBank reported that it had squeezed out a net profit of 29…
