By Mimosa Spencer and Silvia Aloisi PARIS (Reuters) – Gucci owner Kering said on Thursday it was on the hunt for possible acquisitions and might expand in more U.S. cities, after a sales surge showed resilience in demand for luxury goods even as inflation soars. The luxury industry has fast recovered from the fallout of…
By Joseph White and Kannaki Deka (Reuters) -No. 1 U.S. auto retailer AutoNation Inc beat Wall Street estimates for fourth-quarter profit and revenue on Thursday on robust demand for used vehicles boosted by consumer preference for personal transportation due to the COVID-19 pandemic. Shares of the company were up as much as 5% in premarket…
(Reuters) – Shares of DoorDash Inc surged 26% in premarket trade on Thursday after the food-delivery company beat estimates for quarterly revenue, a rare bright spot among stay-at-home darlings that have seen their stocks languish post results. The company’s 34% revenue rise, although slower than the blistering pace recorded a year earlier, still indicated that…
BERLIN (Reuters) – German sportswear company Adidas said on Thursday it would grow in its key market of China in 2022 even after it was hit by renewed pandemic restrictions and the aftermath of a consumer boycott of Western brands. The comments come after Manager Magazin reported Adidas expects sales in China to be down…
By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Administration (NHTSA) said Thursday it is opening a formal investigation into 416,000 Tesla vehicles over reports of unexpected brake activation tied to its driver assistance system Autopilot. The preliminary evaluation covers 2021-2022 Tesla Model 3 and Model Y vehicles in the United States after the…
By Jesús Aguado MADRID (Reuters) – Aggravated by fiddly financial apps, retired urologist Carlos San Juan got more than he bargained for when he began a campaign for a more user-friendly service from Spain’s banks. The 78-year-old kicked off a revolt dubbed ‘I’m old, not an idiot’ online at the end of December and by…
By Joel Schectman and Christopher Bing WASHINGTON (Reuters) – A single activist helped turn the tide against NSO Group, one of the world’s most sophisticated spyware companies now facing a cascade of legal action and scrutiny in Washington over damaging new allegations that its software was used to hack government officials and dissidents around the…
By Ahmad Ghaddar LONDON (Reuters) -Oil prices fell on Thursday as talks to resurrect a nuclear deal with Iran entered their final stages, but losses were capped by heightened tensions between top energy exporter Russia and the West over Ukraine. Brent crude traded down $1.26, or 1.3%, at $93.55 a barrel by 0914 GMT. U.S….
BERLIN (Reuters) – Continental is considering splitting into four separate businesses to boost its market capitalisation but must convince majority shareholder Schaeffler of the plan, Manager Magazin reported, sending Continental shares up 3.5%. The four business areas – tires, autonomous driving, automotive, and ContiTech – would either be sold or put on the market, the…
By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Commerzbank swung to a better-than-expected fourth-quarter and annual net profit despite undergoing a major overhaul, the German lender said on Thursday, and also painted a rosy outlook for 2022. Profit this year will exceed 1 billion euros ($1.14 billion), Commerzbank said, beating analyst forecasts. It added that…
