BERLIN (Reuters) -Volkswagen’s passenger car brand will implement savings and cost-cutting measures amounting to 10 billion euros ($10.83 billion) by 2026 to hit a return on sales target of 6.5%, a spokesperson said on Wednesday. Chief Financial Officer Arno Antlitz posted on LinkedIn earlier on Wednesday that the company would improve production efficiency across the…
By Aidan Lewis and Khalid Abdelaziz CAIRO (Reuters) – Shooting their way through truces, Sudan’s warring factions have shown the limited leverage the United States, Saudi Arabia and other foreign powers have in ending a two-month conflict that is driving the nation deeper into disaster. Neither the army nor the paramilitary Rapid Response Forces (RSF)…
By Sam Tobin LONDON (Reuters) -The billionaire co-chairman and CEO of Chinese developer Guangzhou R&F Properties Co Ltd on Wednesday agreed to be extradited from London to the United States, where he is facing bribery charges. Zhang Li, who co-founded Hong Kong-listed R&F, is wanted on a provisional warrant issued in the Northern District of…
SAO PAULO (Reuters) – Retail sales in Brazil rose for the second consecutive month in April driven by Easter sales, data from government statistics agency IBGE showed on Wednesday, but that was still not enough for them to meet market expectations. Sales increased 0.1% in the month compared with March, IBGE said in a report,…
LONDON (Reuters) -British police were questioning a man on suspicion of murder on Wednesday as they sought the motive for a stabbing and van attack in the central English city of Nottingham which left three people dead and another in a critical condition. Two 19-year-olds, a man and a woman who were university students, were…
By David Carnevali (Reuters) – French aerospace engine maker Safran SA is nearing an approximately $1.8 billion deal to acquire a Raytheon Technologies Corp unit that makes flight controls for aircraft, helicopters and missiles, according to a person familiar with the matter. The deal rids Raytheon of a low-margin business it inherited from its $120…
By Karl Plume and Rod Nickel CHICAGO (Reuters) -Bunge’s planned acquisition of Viterra would make the world’s biggest oilseed crusher even more dominant and secure a larger role in the expanding renewable diesel industry, although it may face competition hurdles. Under the deal to create an agricultural giant worth about $34 billion including debt, Bunge’s…
By David French (Reuters) – One of SilverBow Resources Inc’s largest shareholders called on the U.S. oil and gas producer on Wednesday to drop its anti-takeover defenses and explore a sale, according to a letter reviewed by Reuters. Hedge fund Riposte Capital wrote in the letter that Houston-based SilverBow’s valuation was weighed down by adoption…
By Ananya Mariam Rajesh (Reuters) -Anheuser-Busch InBev’s Bud Light has lost its top spot in the U.S. beer market to Constellation Brands’ Modelo Especial, following backlash from conservatives over a social media promotion with transgender influencer Dylan Mulvaney. Sales of Bud Light and Budweiser dropped 24.6% and 9.2%, respectively, for the four weeks ended June…
By David Shepardson WASHINGTON (Reuters) -A U.S. judge late on Tuesday granted the Federal Trade Commission’s (FTC) request to temporarily block Microsoft Corp’s acquisition of video game maker Activision Blizzard and set a hearing next week. U.S. District Judge Edward Davila scheduled a two-day evidentiary hearing on the FTC’s request for a preliminary injunction for…
