By Victoria Waldersee STUTTGART (Reuters) -Mercedes-Benz Group on Friday warned of lower earnings this year amid economic uncertainty, and said it would look to sell more vehicles directly in major markets such as Britain and Germany as it continues to target high margins on flat volume. The premium automaker expects a lower adjusted return of…
By Pratima Desai LONDON (Reuters) – Russia is likely to limit exports of key metals such as nickel and palladium if the United States imposes steep taxes on imports of aluminium from Russia, analysts say. While Russian aluminium accounts for only a small portion U.S. supplies, nickel is vital for the aerospace industry and electric…
By Christoph Steitz, Tom Käckenhoff and Vera Eckert FRANKFURT/DUESSELDORF (Reuters) -Germany’s Uniper expects profits to recover this year from a 19.1 billion euro ($20.3 billion) record net loss in 2022, although the impact of the Ukraine war on gas prices that determine its procurement costs could linger into 2024, it said. Uniper is the biggest…
By Mimosa Spencer and Ingrid Melander PARIS (Reuters) – Birkin bagmaker Hermes said that wealthy Chinese clients snapped up its products in the fourth quarter even as the rest of the luxury sector took a hit from rising COVID infections, helping it beat sales and margin forecasts. Hermes also saw strong demand from Chinese clients…
By Krishn Kaushik BENGALURU – The United States brought its most advanced fighter jet, the F-35, to India for the first time this week alongside F-16s, Super Hornets and B-1B bombers as Washington looks to woo New Delhi away from its traditional military supplier, Russia. India, desperate to modernise its largely Soviet-era fighter jet fleet…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – For Prime Minister Fumio Kishida, Japan’s next central bank chief had to symbolise a departure from the unconventional policies of his predecessor Shinzo Abe – but without angering pro-growth lawmakers of Abe’s powerful political faction. The tricky task of steering the Bank of Japan (BOJ) out…
By Josh Ye HONG KONG (Reuters) – China’s Lenovo Group Ltd reported a 24% revenue decline for the third quarter, its second consecutive decline as global demand for computers and smartphones continued to slump. The world’s largest maker of personal computers (PCs) said on Friday that total revenue during the October-December quarter was $15.3 billion,…
By Rozanna Latiff KUALA LUMPUR (Reuters) – Luxembourg court bailiffs issued fresh seizure orders for two units of Malaysian state oil firm Petronas this week, following a bid by descendants of a former sultanate to enforce a $15-billion award they had won against Malaysia, according to the heirs’ lawyer and court documents seen by Reuters….
(Reuters) -YouTube Chief Executive and one of the first Google employees, Susan Wojcicki, is stepping down from her role at the tech giant that started in her garage nearly 25 years ago, she said in a personal update on the video-sharing platform on Thursday. Wojcicki, 54, will be replaced by her deputy Neal Mohan, a…
SYDNEY (Reuters) -Shares of boutique investment bank China Renaissance Holdings Ltd slumped 25% on Friday after the firm said it had been been unable to contact its Chairman and Chief Executive Bao Fan. “The board is not aware of any information that indicates that Mr. Bao’s unavailability is or might be related to the business…
