(Reuters) – Toyota Motor said this week it will adopt a technology Tesla pioneered known as “Gigacasting” as part of a strategy by the Japanese automaker to improve the performance – and lower the cost – of future electric vehicles (EVs). Toyota is not alone in following Tesla’s breakthrough. Here’s a look at Gigacasting and…
By John Revill ZURICH (Reuters) – Swiss citizens vote this weekend on whether to raise business tax to 15% from an average of 11% to align with a global minimum tax rate, although even with the rise the country would still have one of the lowest corporate tax levels in the world. In 2021 almost…
By Klaus Lauer BERLIN (Reuters) – German media group ProSiebenSat.1 is preparing to cut significantly more staff than in previous restructurings as part of a strategy to reduce costs and focus more on the entertainment business, said Chief Executive Bert Habets. “The reduction exercise that we are preparing for is significantly bigger in size than…
COPENHAGEN (Reuters) – Belgian water management group Aliaxis has withdrawn its public tender offer for Finland’s Uponor, the bidder said in a statement on Wednesday. Swiss industrial group Georg Fischer on Monday made a rival offer of 28.85 euros per share, valuing Uponor at 2.1 billion euros, a 12% premium to the Belgian company’s bid….
BERLIN (Reuters) – Germany’s wholesale prices fell in May compared with the same month last year, according to data released on Wednesday. Wholesale prices decreased by 2.6% on the year and 1.1% on the month, the federal statistics office reported. The office offers more detailed economic data on its website. (Reporting by Anastasiia Kozlova, Editing…
BERLIN (Reuters) – Germany’s wholesale prices fell in May compared with the same month last year, according to data released on Wednesday. Wholesale prices decreased by 2.6% on the year and 1.1% on the month, the federal statistics office reported. The office offers more detailed economic data on its website. (Reporting by Anastasiia Kozlova, Editing…
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Russia’s dominant lender Sberbank will issue bonds in Chinese yuan this year if an opportunity arises and will continue borrowing in roubles to drive portfolio growth, the bank’s finance chief told Reuters. In his first interview since becoming Sberbank’s head of finance last year, Taras Skvortsov…
By Naomi Rovnick and Harry Robertson LONDON (Reuters) – Soaring interest rates, slowing economic growth and a banking sector still recovering from a March rout might suggest a note of market caution, yet world stocks are at 14-month highs, the S&P 500 stock index has entered a bull market and gauges of volatility are eerily…
HONG KONG (Reuters) – Chinese automaker BYD Co Ltd has restarted operations at two showrooms and a service centre in Hong Kong after they were vandalised earlier this week, BYD’s sole agent said in a notice on its website on Wednesday. Restoration work on another showroom in the outlying district of Yuen Long in the…
By Sheila Dang (Reuters) – Alphabet’s Google said on Wednesday it is launching two new artificial intelligence-powered features for advertisers that will automatically find the best ad placements for brands across the tech company’s services. AI has dominated the tech industry in recent months as Google and other companies have developed novel chatbots that can…
