By Marie Mannes (Reuters) -Electric vehicle maker Polestar said on Thursday it had secured $1.6 billion in financing from its two main shareholders to help it deliver its growth plans amid volatile markets. Volvo Car, which co-founded the brand with China’s Geely in 2017, said it would provide an $800 million loan to the firm….
LONDON (Reuters) – The Bank of England raised UK interest rates to 3% on Thursday in its largest rate hike since 1989 and warned of a “very challenging outlook” for the economy. Investors had fully priced in the possibility of the three-quarter point increase. Money markets showed traders now expect UK rates to peak at…
(Reuters) -Intercontinental Exchange reported a 3% rise in third-quarter adjusted profit on Thursday, bolstered by heavy trading volumes that helped offset a lull in initial public offerings at the New York Stock Exchange parent. Even as a global market rout saps the appetite for deals forcing companies to delay their stock market listings, it has…
(Reuters) – Moderna Inc on Thursday cut the annual sales forecast for its COVID-19 vaccine citing short-term supply constraints that would push some vaccine deliveries out to next year, sending its shares down 15% before the bell. The vaccine maker reported sales of $3.36 billion in the third quarter, missing Wall Street estimates of $3.53…
By Silvia Aloisi and Matthieu Protard PARIS (Reuters) -BNP Paribas, the euro zone’s biggest lender, posted a higher than expected net profit in the third quarter, with thriving trading revenue helping to offset rising costs and markdowns on some leverage financing deals. Net income for the three months to end September rose by 10.3% from…
BEIJING (Reuters) – The U.S has “no right” to interfere in Chinese cooperation with Germany, the foreign ministry said Thursday, after Washington “strongly suggested” that Beijing would not get a controlling stake in a contested deal regarding Hamburg’s port terminal. U.S. interference is symptomatic of its practice of coercive diplomacy, Chinese foreign ministry spokesman Zhao…
By Kane Wu, Scott Murdoch and Julie Zhu HONG KONG (Reuters) – Wall Street major Morgan Stanley is expected to start a fresh round of layoffs globally in the coming weeks, three people with knowledge of the plan said, as dealmaking business takes a hit due to rising inflation and an economic downturn. In Asia…
By Susanna Twidale, Isla Binnie and Kate Abnett (Reuters) – Europe’s plan to roughly double renewable power generation by the end of the decade to cut its emissions and reliance on imported Russian fuel is under threat from market turbulence that has shaken the economics of the shift to low carbon energy. Russia’s war on…
TOKYO (Reuters) – Nissan Motor Co has temporarily stopped taking new orders of its recently unveiled light electric vehicles (EVs) because of prolonged delivery periods of a year or more, a Nissan spokesperson said on Thursday. The Japanese automaker stopped taking orders of the Sakura, fully electric micro “kei” cars, at the end of the…
By Wayne Cole SYDNEY (Reuters) – Asian shares slipped on Thursday after the U.S. Federal Reserve shifted the outlook on tightening from short and sharp to long and high, putting to rest any thought of a near-term pause. Investors were initially cheered that the Fed at least opened the door to a slowdown in the…
