(Reuters) – Imperial Brands has started talks to transfer its Russian business to a local third party following the Ukraine crisis, the tobacco company said on Tuesday, while flagging a small hit to annual revenue and profit due to the exit. The maker of Winston cigarettes and Backwoods cigars said it would continue to pay…
STOCKHOLM (Reuters) -Sweden’s H&M, the world’s second-biggest fashion retailer, reported on Tuesday an increase in December through February sales that was in line with expectations. Net sales in the company’s fiscal first quarter were up 23% year-on-year, or 18% measured in local currencies, at 49.2 billion crowns ($5.13 billion). Analysts polled by Refinitiv had on…
BERLIN (Reuters) – The Volkswagen Group achieved a 16% market share in China in 2021 and the VW brand returned to profit in North and South America, the German carmaker said on Tuesday. The Volkswagen Group could have sold significantly more cars in China in 2021 but was hindered by the ongoing semiconductor shortage, added…
By Kevin Yao and Stella Qiu BEIJING (Reuters) -China’s economy perked up in the first two months of 2022, with key indicators all exceeding analysts’ expectations, although a surge in Omicron cases, property weakness and heightened global uncertainties are weighing on the outlook. Industrial output rose 7.5% in January-February from a year earlier, the fastest…
By Davide Barbuscia NEW YORK (Reuters) – Wild swings in asset prices following Russia’s invasion of Ukraine are prompting some investors to pare risk in their portfolios, fearing that the type of volatility seen in commodities in recent weeks could hit other markets. At issue is liquidity – or the ease at which investors can…
By Yuka Obayashi TOKYO (Reuters) – Oil prices extended losses on Tuesday, sliding to a two-week low as ceasefire talks between Russia and Ukraine eased fears of further supply disruptions and surging COVID-19 cases in China fuelled concerns about slower demand. Brent futures dropped $4.74, or 4.4%, to $102.16 a barrel by 0445 GMT after…
By Aditya Kalra and Abhirup Roy NEW DELHI (Reuters) -Amazon.com Inc has gone on the attack in its bitter dispute with two Indian retailers, accusing them of fraud in Indian newspaper ads on Tuesday after Reliance Industries suddenly took over many of Future Retail stores. Amazon has been contesting the planned $3.4 billion sale of…
BEIJING (Reuters) – Tesla Inc raised prices by about 5% on Tuesday for some of its China-made Model 3 and Model Y products, the website of the U.S. electric vehicle maker showed, in its second such hike in five days. Tesla declined to comment on the hikes. After the price increases, the Model Y Long…
BEIJING (Reuters) – Tesla Inc raised the prices of its high-end China-made model 3 and model Y vehicles on Tuesday, the firm said on its website, the second time in five days that the U.S. electric vehicle maker has done so. Tesla declined to comment on the hikes. (Reporting by Sophie Yu, Brenda Goh; Editing…
SHANGHAI (Reuters) -China’s central bank kept some of its policy rates unchanged in a liquidity operation on Tuesday, dashing expectations for a cut, although investors believe policymakers may resume monetary easing soon to prop up the cooling economy. The surprise decision comes a day before the U.S. Federal Reserve is expected to deliver its first…
