By Norihiko Shirouzu BEIJING (Reuters) -Volkswagen AG sold 70,625 of its ID electric vehicles in China last year, missing its goal of selling 80,000 to 100,000 cars, the company said on Tuesday. “It was a pretty difficult year for us as a group.” the German automaker’s China chief Stephan Wollenstein said. Supply chain constraints, including…
By Anshuman Daga SINGAPORE (Reuters) – Asian equities and the dollar struggled to find direction on Tuesday, with attention squarely on the timing and pace of U.S. monetary policy normalisation, but investors took some comfort from a late rebound in U.S. stock markets. Federal Reserve Chair Jerome Powell appears before the Senate Banking Committee on…
By Xie Yu HONG KONG (Reuters) – U.S. investor Ray Dalio, founder of the world’s largest hedge fund, says investors need to be mindful of the current inflationary environment and stop viewing cash as a safe investment. The comments come as major central banks around the world have started or are preparing to tighten monetary…
BEIJING (Reuters) – U.S. chipmaker Intel has deleted references to Xinjiang from an annual letter to suppliers after the company faced a backlash in China for asking suppliers to avoid the sanctions-hit region. Last month, Intel was slammed on Chinese social media for a letter to suppliers published on its website. The Dec. 23 letter…
By Nivedita Balu, Tiyashi Datta and Krystal Hu (Reuters) -“Grand Theft Auto” video game maker Take-Two Interactive said on Monday it would buy Zynga for $11.04 billion in a cash-and-stock deal that will add popular mobile titles such as “FarmVille” under its umbrella as demand surges for on-the-go gaming. The deal, the largest ever in…
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar hovered near the middle of its recent range against major peers on Tuesday as traders looked to incumbent Fed Chair Jerome Powell’s nomination hearing later in the day for new clues on the timing and pace of policy normalisation. In his prepared opening remarks, released Monday,…
(Reuters) -Facebook parent Meta Platforms has delayed its U.S. office reopening date and mandated COVID-19 booster shots for employees returning to office, joining the growing list of companies revamping reopening plans as Omicron surges. For employees who opt to work from office, the reopening date has been delayed to March 28 from the earlier plan…
(Reuters) – Rivian Automotive Inc produced 1,015 vehicles by the end of 2021, the Amazon-backed electric pickup truck maker reported in a filing on Monday, in line with its lowered expectations. Last month, Rivian said it expected production to be “a few hundred vehicles short” of its 2021 target of 1,200 because of supply chain…
By Hilary Russ NEW YORK (Reuters) -A Starbucks cafe in Buffalo, New York, became the second unionized company-owned Starbucks Corp location in the United States after the federal labor board on Monday certified the results of last month’s election there. Baristas at the company’s cafes in at least seven other cities have said since last…
(Reuters) -Abercrombie & Fitch Co and Big Lots Inc gave investors a first look at the impact COVID-19 was having on their businesses, with both retailers providing disappointing forecasts citing supply chain hurdles and the spread of the Omicron variant. However, apparel retailer Abercrombie said it had seen a pickup in post-holiday sales, sending its…
