ZURICH (Reuters) – ABB has raised 325 million Swiss francs ($355 million) from selling a further part of its electric vehicle (EV) charging business to four minority investors, the Swiss engineering and technology company said on Wednesday. The investors will take a combined 12% stake in the E-Mobility business in the final round of private…
By Ludwig Burger BASEL (Reuters) -Swiss drugmaker Novartis on Wednesday predicted that core operating income would grow in a “mid single digit” percentage range in 2023, following stagnation last year. Full-year core operating income was broadly flat at $16.7 billion, it said in a statement, coming in slightly below market expectations of $16.8 billion. Adjusted…
BERLIN (Reuters) – The United States remained the most important destination for German exports in 2022 for the eighth consecutive year. Exports of goods reached a record 156 billion euros ($169.31 billion) last year, according to Reuters calculations based on preliminary data from the German statistics office. German exports to the United States in 2022…
BENGALURU (Reuters) – Most Adani Group stocks dropped on Wednesday, extending losses after a report from short-seller Hindenburg criticised the conglomerate and despite the group completing a $2.5 billion share sale a day earlier. Hindenburg Research’s report last week alleged improper use of offshore tax havens and flagged concerns about high debt. The group, led…
By Stephen Nellis (Reuters) – Intel Corp said on Tuesday that it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by a loss of market share to rivals and a PC market downturn. The reductions will range from 5% of base pay for…
By Alexandra Alper and David Shepardson WASHINGTON (Reuters) – An American official on Tuesday made the most direct comments by a U.S. authority to date acknowledging the existence of a deal with Japan and the Netherlands for those countries to impose new restrictions on exports of chipmaking tools to China. “We can’t talk about the…
(Corrects spelling of Elliott in headline and 2nd paragraph) By Chibuike Oguh and Tiyashi Datta NEW YORK (Reuters) -Memory chip maker Western Digital Corp said on Tuesday it will receive $900 million through a convertible preferred stock deal from private equity firm Apollo Global Management Inc and hedge fund Elliott Management Corp. Western Digital said…
By Nick Carey LONDON (Reuters) – A consortium including Hydrogen truck startup HVS and supermarket chain Asda said on Wednesday it had been awarded a 6.6 million pound ($8.1 million) UK government grant to develop autonomous hydrogen heavy goods vehicles. The project is one of seven backed by Britain’s Centre for Connected and Autonomous Vehicles…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korean chipmaker SK Hynix Inc said the industry downturn will worsen in the first half of 2023, as it turned in a record quarterly operating loss on Wednesday. SK Hynix, however, said market conditions would gradually improve later in the year as chipmakers reduce supply in…
By David Shepardson WASHINGTON (Reuters) -U.S. air passengers would be offered refunds for delayed flights and transportation on rival carriers under sweeping consumer protections proposed on Tuesday after a series of disruptions including a holiday meltdown at Southwest Airlines. U.S. lawmakers said the wide-ranging measures would require airlines to pay at least $1,350 to passengers…
