By Aditi Shah NEW DELHI (Reuters) – Fiat parent Stellantis has concluded it can’t currently make affordable electric vehicles in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters. If India, with its low-cost supplier base, is able to meet the company’s quality and cost targets by…
By Dominique Vidalon PARIS (Reuters) – France’s Remy Cointreau reported a stronger-than-expected 27% jump in first-half operating profit and kept its guidance for a slower second half, saying consumption trends were returning to more normal levels. Chief Executive Eric Vallat also said he was “cautiously optimistic” about business in China, a key market, in the…
By Yimou Lee and Brenda Goh TAIPEI/SHANGHAI (Reuters) – Foxconn said on Thursday a pay-related “technical error” occurred when hiring new recruits at a COVID-hit iPhone factory in China and apologised to workers after the company was rocked by fresh labour unrest. Men smashed surveillance cameras and clashed with security personnel as hundreds of workers…
MADRID (Reuters) – Spanish insurer Mapfre will pay a one-time 400 euro ($417.32) bonus at Christmas to its approximately 10,000 employees in Spain to help them cope with soaring inflation. The company provided a 350 euro bonus in July. “These are two extraordinary actions seeking to compensate the high rates of inflation,” Mapfre said in…
By Makiko Yamazaki TOKYO (Reuters) – Japan’s Mitsubishi UFJ Financial Group Inc said on Thursday it would buy the Philippines and Indonesian units of Dutch consumer finance company Home Credit Group BV for about 596 million euros ($621 million). The deal comes as Japan’s largest lender aims to beef up its business in Asia to…
By Yuka Obayashi TOKYO (Reuters) -Oil trickled down on Thursday, hovering around two-month lows, as the proposed price cap on Russian oil from Group of Seven (G7) nations was considered higher than the current trading levels, alleviating concerns over tight supply. A greater-than-expected build in U.S. gasoline inventories and widening COVID controls in China added…
TAIPEI (Reuters) -Apple’s major supplier Foxconn said on Thursday a “technical error” occurred when hiring new recruits at a COVID-hit iPhone factory in China and apologised to workers after the company was rocked by fresh labour unrest. Men smashed surveillance cameras and clashed with police as hundreds of workers protested at the world’s biggest iPhone…
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) -Sri Lanka’s central bank held interest rates steady on Thursday, as widely expected, but said it expected a moderation in market interest rates in line with prevailing policy rates. The Standing Lending Facility rate was held steady at 15.50% while the Standing Deposit Facility Rate was kept…
TAIPEI (Reuters) – Larger protests at Foxconn’s flagship iPhone plant in China were under control and the company continued to communicate with employees engaged in smaller protests, a source said on Thursday. Hundreds of workers joined protests at Foxconn’s major iPhone plant China’s Zhengzhou this week, with some men smashing surveillance cameras and windows, footage…
(Reuters) -The U.S. Federal Trade Commission (FTC) is likely to file an antitrust lawsuit to block Microsoft Corp’s $69 billion takeover bid for video game publisher Activision Blizzard Inc, Politico reported on Wednesday, citing people familiar with the matter. A lawsuit challenging the deal is not guaranteed, and the FTC’s four commissioners have yet to…
