(Reuters) – Shares in Volkswagen inched higher on Wednesday, recovering slightly from a selloff the day before when the automaker played down reports it will cut EV output in Germany over the next two weeks because of lower than expected demand. Volkswagen “expects the trend in BEV (battery electric vehicle) orders, which already improved in…
BEIJING (Reuters) -Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The 18.8% year-on-year slump in profits came on top of the 20.6% contraction in January-April, and added to evidence of…
By Stephen Nellis (Reuters) – Databricks on Wednesday introduced an artificial intelligence assistant intended to help business users ask complicated questions about their corporate data in everyday language. Databricks, a San Francisco-based startup most recently valued at $38 billion, is among several tech companies, including Adobe Inc and Intel Corp, racing to use chatbots that…
(Reuters) – Thomson Reuters will buy Imagen, a digital content asset management company, for an undisclosed price, to expand its agency business to new customers, the news and information company said on Wednesday. Britain-based Imagen, which owns the Screenocean video distribution platform, operates digital content libraries for sports, media and business companies including Premier League…
WASHINGTON (Reuters) -The U.S. Justice Department will on Wednesday announce results of a nationwide health care fraud and opioid enforcement action against 87 people in 14 districts involving more than $2.6 billion in fraud, the department said in a statement. The announcement will take place at 11 a.m. (1500 GMT) at department headquarters, it said….
By Jan Strupczewski BRUSSELS (Reuters) – Euro zone governments should tighten fiscal policy next year more than currently planned to help the European Central Bank fight inflation and prevent interest rates rising too high, the European Fiscal Board (EFB) said in a report on Wednesday. The EFB is an independent advisory body set up to…
By Nick Carey LONDON (Reuters) – Lucid will pursue more deals to sell its luxury electric vehicle (EV) equipment as it looks to grow its technology supply business, its top executive said on Wednesday, adding its recent deal with Aston Martin is just the start. The U.S. EV firm will provide Aston with technology including…
By Selena Li and Yantoultra Ngui HONG KONG/SINGAPORE (Reuters) – Singapore’s state investor Temasek is selling around S$400 million ($295.92 million) worth of shares, or a 1.85% stake, in the country’s national carrier Singapore Airlines (SIA), according to a term sheet seen by Reuters on Wednesday. The shares are priced between S$7.202 and S$7.283 per…
By Alun John and Dhara Ranasinghe LONDON (Reuters) – Big global currencies are rarely on different paths. Yet Japan’s yen and China’s yuan are slumping against the dollar while in Europe the euro is outperforming and sterling is on a tear. With economic and monetary policy outlooks varying, currency moves are increasingly out of sync…
By Paul Sandle LONDON (Reuters) -Activision Blizzard said its studio that developed “Call of Duty” would set up shop in Barcelona, putting into action its pledge to invest in Europe after Brussels approved Microsoft’s $69 billion acquisition of the company in May. The U.S. company said on Wednesday its game developer Infinity Ward, which created…
