PARIS (Reuters) – Luxury brands focused on wealthier consumers in the United States are performing better than those who appeal to aspirational shoppers on lower incomes who are deterred by the economic uncertainty, consultancy Bain & company said. In its twice-yearly report, Bain increased its annual sales forecasts for the global personal luxury goods market…
By David Brunnstrom WASHINGTON (Reuters) – The United States unveiled agreements this week to sell weapons to India and share with it sensitive military technology, a clear sign of the Biden administration’s desire to deepen ties with New Delhi to counter China’s ambitions in Asia. But those plans, announced on Thursday during a state visit…
By Joseph Ax (Reuters) – For a year, Stockton Rush had tried to convince Las Vegas-based investor Jay Bloom to buy a couple of spots on his company’s submersible so Bloom and his son could experience the once-in-a-lifetime thrill of visiting the deep-sea wreck of the Titanic. Bloom was intrigued, he said in an interview…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against the euro on Friday after dismal business activity data from around the globe soured risk sentiment and as hawkish comments from central banks added to pressure on riskier currencies. U.S. business activity fell to a three-month low in June as services growth eased for…
By David Shepardson WASHINGTON (Reuters) -Two U.S. senators wrote seven major automakers on Friday urging them not to remove AM radio from new vehicles. Senator Ted Cruz, the top Republican on the Senate Commerce Committee, and Democrat Ed Markey, who also sits on the panel, wrote to BMW, Volkswagen, Tesla, Mazda, Polestar, Rivian and Volvo…
(Corrects story and headline to say makers pledge $11.3 billion, not $14.3 billion for lithium iron phosphate plants) By Paul Lienert (Reuters) – Interest and investment in lithium iron phosphate (LFP) battery cells and materials, used to power electric vehicles, continue to climb in the United States. LFP is a lower-cost competitor to nickel cobalt…
(This June 22 story has been corrected to say makers pledged more than $11 billion, not $14 billion, in paragraph 3) By Paul Lienert DETROIT (Reuters) – As the auto industry scrambles to produce more affordable electric vehicles, whose most expensive components are the batteries, lithium iron phosphate is gaining traction as the EV battery…
By Steve Holland WASHINGTON (Reuters) -U.S. President Joe Biden’s national security adviser, Jake Sullivan, is traveling to Denmark this weekend to participate in a meeting about Ukraine which may include some countries that have refused to condemn the invasion. The talks in Copenhagen are being organized by Ukraine “to discuss basic principles of peace,” a…
By Gibran Naiyyar Peshimam KHUIRATTA, Pakistan-administered Kashmir (Reuters) – Hameed Iqbal Bhatti had prospered over two decades working in Saudi Arabia, but after returning to Pakistan three years ago, he was getting desperate. The economy had suffered in the pandemic and his restaurant business closed. With work avenues drying up and sky-high inflation blowing a…
By Lewis Jackson and Scott Murdoch SYDNEY (Reuters) -PricewaterhouseCoopers Australia is looking to sell its government, education and healthcare practice to private equity firm Allegro Funds, according to a person familiar with the matter, as the firm battles the fall out from a major scandal. The scandal, which first broke in January, centres around a…
