By Victoria Waldersee BERLIN (Reuters) -Volkswagen sees higher competition later this year as supply chain bottlenecks ease and China’s electric car market heats up, the carmaker said on Thursday, adding that it put margins over volume even as it fights to maintain market share. The company was emboldened to stick to its annual outlook of…
By Maria Martinez (Reuters) – German exports fell significantly more than expected in March, as deliveries to the United States and China sharply declined, data showed on Thursday. Exports decreased by 5.2% on the previous month, with exports to European Union countries falling 6.2%, to the United States declining 10.9% and to China dropping 9.3%,…
FRANKFURT (Reuters) – German technology group Robert Bosch expects 6% to 9% revenue growth this year from 88.2 billion euros ($97.49 billion) in 2022 and an EBIT margin of 5%, up from 4.3% last year, it said on Thursday thanks to growth in both its cars and heating systems businesses. The transformation of energy systems…
By Indradip Ghosh BENGALURU (Reuters) – Growth in euro zone business activity sped up in April, though less than initially indicated, as robust services more than offset a downturn in manufacturing, according to a survey that also showed inflation was at its lowest in over two years. HCOB’s Composite Purchasing Managers’ Index (PMI), seen as…
By Elvira Pollina MILAN (Reuters) – Telecom Italia (TIM) directors will meet on Thursday to decide their response to multibillion bids for the phone company’s landline grid as top investor Vivendi calls into question the group’s strategy. The sale of TIM’s fixed network and its submarine cable unit Sparkle is the focus of CEO Pietro…
BERLIN (Reuters) – German services sector activity grew in April at the fastest pace in a year as demand picked up, a business survey showed on Friday. The HCOB services Purchasing Managers’ Index (PMI) rose to 56.0 from 53.7 in March, climbing further above the 50 threshold that separates growth from contraction. Demand and new…
By Aftab Ahmed and Swati Bhat NEW DELHI/MUMBAI (Reuters) – India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers, two Indian government officials and a source with direct knowledge of the matter said. This would be a major…
By Matteo Allievi and Victor Goury-Laffont (Reuters) – French IT consulting group Capgemini on Thursday reported weaker revenue growth in the first quarter of 2023, compared with the year-ago period, citing a tense economic environment with clients adopting a “wait-and-watch stance”. Still, the company’s quarterly revenue reached 5.73 billion euros ($6.35 billion), 10.9% above the…
ROME (Reuters) – Italy’s services sector grew for a fourth month running in April and at the fastest rate since August 2021 amid rising confidence and continued growth in new business, a survey showed on Thursday. The HCOB Global’s Purchasing Managers’ Index (PMI) increased to 57.6 from 55.7 in March, climbing further above the 50…
By Gaurav Dogra (Reuters) – Foreigners turned net buyers of Asian stocks in April, bolstered by rising expectations the U.S. Federal Reserve will pause its aggressive tightening cycle, and by other factors such as a weaker dollar and strong first-quarter company earnings. Data from stock exchanges in India, Indonesia, the Philippines, South Korea, Taiwan, Thailand,…
