By David Shepardson (Reuters) -Chrysler parent company Stellantis NV said Friday it has offered voluntary buyouts to some of its 13,000 U.S. salaried employees. Salaried workers age 55 or older who have been with the automaker at least 10 years are eligible. The world’s No.4 carmaker, created early last year from the merger of PSA…
By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators on Friday renewed interim measures ordering U.S. life sciences company Illumina to keep Grail as a separate entity pending an order to unwind the takeover completed before the deal had been approved. The interim order, which was due to expire at the end of the…
By Krystal Hu (Reuters) – Binance, the world’s largest crypto exchange that has invested $500 million into Elon Musk’s buyout of Twitter Inc, is creating a team to work on how blockchain and crypto could be helpful to Twitter, the company’s spokesperson said on Friday. As one of Elon Musk’s equity co-investors to fund his…
By Rachel More BERLIN (Reuters) -Germany staved off the threat of recession in the third quarter with unexpected growth but the economy remained in choppy waters as high inflation driven by a painful energy standoff with Russia surged, data showed on Friday. Consumer prices, harmonised to compare with other European Union countries, were up 11.6%…
WASHINGTON (Reuters) – U.S. consumer spending increased more than expected in September, while underlying inflation pressures continued to bubble, keeping the Federal Reserve on track to hike interest rates by 75 basis points for the fourth time this year. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.6% last month,…
(Reuters) – U.S. stock index futures tumbled on Friday as gloomy forecasts from megacaps Amazon and Apple heightened fears that the Federal Reserve’s aggressive interest rate hikes were finally slowing the economy and could hammer corporate earnings. Amazon.com Inc joined a chorus of Big Tech firms that have disappointed investors this week by forecasting a…
By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil Corp on Friday smashed expectations as soaring energy prices fuelled a record-breaking quarterly profit, nearly matching that of tech giant Apple. Its $19.66 billion third-quarter net profit far exceeded recently raised Wall Street forecasts as sky-rocketing natural gas and high oil prices put its earnings within reach of…
By Valentine Baldassari (Reuters) -Signify, the world’s biggest lighting maker, cut its full-year outlook on Friday, hit by lower consumer demand and a slowdown in China even as shops and businesses in Europe rush to buy more efficient bulbs to cut energy costs. The former lighting arm of Philips said it is seeing increased demand…
By Sheila Dang and Greg Roumeliotis (Reuters) – Elon Musk has taken ownership of Twitter Inc with brutal efficiency, firing top executives immediately but providing little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platform. “The bird is freed,” he tweeted after he completed his $44…
By Victoria Waldersee BERLIN (Reuters) – Volkswagen reported third-quarter earnings of 4.3 billion euros ($4.29 billion), behind pre-pandemic levels, following 1.6 billion in one-off effects from the suspension of Russian activities and its Porsche AG listing. Margins across the group were 6%, but Volkswagen maintained its outlook for the year of the upper end of…
