By Nick Carey LONDON (Reuters) – Luxury carmaker Rolls-Royce, a unit of Germany’s BMW, said on Monday its sales soared 49% to a record high in 2021 despite the global coronavirus pandemic, as demand worldwide for luxury vehicles surged. In an online presentation, Rolls-Royce CEO Torsten Müller-Ötvös said the carmaker sold 5,586 vehicles to customers…
BERLIN (Reuters) – Ford has appointed Audi’s Europe sales chief Martin Sander into a new role heading up its German operations as well as running passenger vehicles for Europe, the company said on Monday. The new position will combine the role of chair of Ford-Werke GmbH in Germany and General Manager of passenger vehicles for…
By Rodrigo Campos NEW YORK (Reuters) – Argentina’s insistence on its deficit spending plan is putting it on a fresh collision course with the International Monetary Fund, though analysts predict the country will be forced to change tack and clinch a deal to avoid a bigger crisis. The Argentine government and the IMF have been…
By Bozorgmehr Sharafedin LONDON (Reuters) – Oil prices edged up on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections. Brent crude rose 19 cents, or 0.2%, to $81.94 a barrel at 1006 GMT, and U.S. West Texas Intermediate (WTI) crude was up 20 cents,…
By Kane Wu and Julie Zhu HONG KONG (Reuters) – JPMorgan Chase & Co plans to boost its private banking business headcount in Asia by more than 100 this year, two people with direct knowledge of the matter said, joining its peers in a push to grab a bigger share of the region’s wealth. About…
A look at the day ahead from Sujata Rao. As markets move to price a U.S. interest rate liftoff, possibly even from March, 10-year Treasury yields have risen a quarter point since the year started. Even more interestingly, “real”, or inflation-adjusted U.S. yields are driving the moves with a 33 basis-point jump. Real yields, while…
BEIJING (Reuters) – China’s aviation sector will aim to turn losses into profits this year with an expected recovery to 85% of its pre-COVID volume of domestic passenger trips, the aviation regulator said on Monday. China’s domestic air traffic, once the world’s envy after a fast rebound during the pandemic, is faltering due to a…
By Ron Bousso and Sabrina Valle LONDON/HOUSTON (Reuters) – Europe’s Big Oil companies are planning to spend their windfall from high energy prices on becoming Small Oil. Surging oil and gas prices in 2021 delivered billions of dollars in profits to top oil companies, in stark contrast to the previous year when energy prices collapsed…
BEIJING (Reuters) – China’s New Oriental dismissed 60,000 employees and saw operating income plunge by 80% after Beijing enforced new sweeping rules on the country’s private education industry that barred for-profit tutoring last year, according to its founder. Yu Minhong, who founded the company in 1993, published the figures on his official WeChat account on…
By Andrea Shalal WASHINGTON (Reuters) – Emerging economies must prepare for U.S. interest rate hikes, the International Monetary Fund said, warning that faster than expected Federal Reserve moves could rattle financial markets and trigger capital outflows and currency depreciation abroad. In a blog published Monday, the IMF said it expected robust U.S. growth to continue,…
