(Reuters) -Aston Martin Lagonda has forecast it would hit targets of 500 million pounds ($635.85 million) in adjusted profit and 2 billon pounds in revenue by 2024-2025, the Financial Times reported on Monday. The luxury carmaker, which had the capacity to sell 10,000-15,000 models a year, will likely sell “maybe 17 (thousand) at its peak…
SINTRA, Portugal (Reuters) – The world’s top central banks may need longer to get inflation back down to target and a fresh bout of financial turbulence could make the process even more protracted, the International Monetary Fund’s second-in-command said on Monday. Central banks have raised interest rates at a brisk pace over the past year-and-a-half…
By David Shepardson WASHINGTON (Reuters) -U.S. Federal Trade Commission Chair Lina Khan is set to testify on July 13 before the House Judiciary Committee led by Republicans who have sharply criticized her leadership of the antitrust enforcement agency, the committee and commission confirmed on Friday. This will be her first appearance before the committee since…
By Shariq Khan BENGALURU (Reuters) -Oil prices rose slightly in choppy trading on Monday, as investors balanced concerns about global demand growth against upcoming supply disruptions that could be exacerbated by political instability in Russia. Brent crude futures rose 33 cents, or 0.5%, to settle at $74.18 a barrel, while U.S. West Texas Intermediate (WTI)…
(Reuters) – KPMG is laying off 5% of its U.S. employees after feeling the pinch of “economic headwinds, coupled with historically low attrition,” a spokesperson for the Big Four accounting giant said on Monday. The firm had over 39,000 employees in the U.S. at the end of its last fiscal year on Sept. 30. KPMG,…
By Jonathan Cable LONDON (Reuters) – The Bank of England will raise borrowing costs 50 basis points higher than was thought only two weeks ago, in two quarter-point moves, as elevated inflation proves tricker to bring down than had been expected, according to economists polled by Reuters. Last week, the central bank surprised investors by…
MILAN (Reuters) – Stellantis has reached a deal with Italian dealers to help the carmaker deliver vehicles at a time of prolonged logistical disruption in Europe, the group’s head for Italy Santo Ficili said on Monday. Under the arrangement, struck six months ago, dealers directly pick up cars from factories, rather than have them delivered…
(Reuters) – Amazon.com’s cloud computing division would invest $7.8 billion through 2030 in Ohio to expand its data center operations, it said on Monday. The e-commerce giant, which has invested $6.3 billion in the state since 2015, has been increasing its spending to meet a rise in demand for cloud services from corporate and government…
(Reuters) – Meta Platforms on Monday launched Meta Quest+, a subscription-based service for its virtual reality (VR) headsets to shape a nascent but high-investment market. Chief Executive Mark Zuckerberg, in a broadcast channel on social media app Instagram, said the Meta Quest+ subscription will be available from Monday at $7.99 per month, or $59.99 annually,…
By Amruta Khandekar and Siddarth S (Reuters) -European shares inched lower on Monday, led by healthcare, while defence stocks fell after an aborted weekend mutiny in Russia. The pan-European STOXX 600 index slipped 0.1% as of 1600 GMT, extending losses for its sixth straight session. Russia sought to restore calm on Monday after the aborted…
