COPENHAGEN (Reuters) – SAS will not be using the second tranche of its $700 million debtor-in-possession (DIP) term loan in the second quarter of the year, due to stronger than expected development of the airline’s liquidity, the airline said on Monday. SAS may, depending on the development of its liquidity, continue discussions with Apollo regarding…
PARIS (Reuters) -A wave of price cuts by Tesla is a “warning” for rival manufacturers of electric vehicles, the chief executive of French car maker Renault’s flagship brand said on Monday. The brand’s sales rose by 9% in the first quarter of the year, indicating a restructuring strategy focusing on the most profitable models may…
LONDON (Reuters) – Earnings season gets into full swing, while the first snapshot of business activity in April could provide a sense of how much pain the turmoil in the banking sector has inflicted on the world economy. China and Britain release key economic data and officials from the Group of Seven nations talk climate…
BERLIN (Reuters) – Production in Germany’s engineering sector rose by 3.2% in the first two months of 2023 compared with the same months last year as supply chain bottlenecks eased considerably, the VDMA engineering association said on Monday. Despite a solid start to the year, VDMA stuck to its full-year forecast for a 2% drop…
TAIPEI/BEIJING (Reuters) -The U.S. warship USS Milius sailed through the Taiwan Strait on Sunday, in what the U.S. Navy described on Monday as a “routine” transit, just days after China ended its latest war games around the island. China, which views Taiwan as its own territory, officially ended its three days of exercises around Taiwan…
By Balazs Koranyi WASHINGTON (Reuters) -Three women are seen as the top contenders to become the European Central Bank’s new supervisory chief, with Germany’s Claudia Buch considered the clear favorite, conversations with a dozen sources with direct knowledge indicate. The ECB oversees just over a hundred of the euro zone’s biggest banks and needs to…
By Cheney Orr and Julia Harte DADEVILLE, Alabama (Reuters) -At least four people were killed and 28 wounded in a shooting that erupted during a late-night “Sweet 16” birthday celebration at a dance studio in the small town of Dadeville, Alabama, state police and local news media said on Sunday. Some of the injured were…
(Reuters) – Workers from Tesla’s Shanghai factory have taken the unusual step of posting on social media to appeal to Elon Musk and the Chinese public after being told over the weekend that a performance bonus had been cut. Here are key facts about Tesla’s operation in Shanghai: BACKGROUND Tesla’s Shanghai plant, which began operations…
(Reuters) – Workers from Tesla’s Shanghai factory have taken the unusual step of posting on social media to appeal to Elon Musk and the Chinese public after being told over the weekend that a performance bonus had been cut. Here are key facts about Tesla’s operation in Shanghai: BACKGROUND Tesla’s Shanghai plant, which began operations…
HONG KONG (Reuters) – One of the most prominent democracy activists in Hong Kong over recent years, Joshua Wong, was sentenced on Monday to three months in prison over an information breach involving a police officer, according to a post on Wong’s Facebook account. The 26-year-old rose to prominence in 2014, when, as a bespectacled…
