BERLIN (Reuters) – Uncertainty over the future of European regulation on auto emissions gives Chinese competitors already ahead of the game an additional advantage, Stellantis chief executive Carlos Tavares said at a conference in Berlin on Tuesday. The chief executive said that the so-called Euro 7 standards, which aim to tighten car emission limits for…
By Foo Yun Chee BRUSSELS (Reuters) – Companies that alerted European authorities to cartels in the last 16 years dodged 10 billion euros ($9.97 billion) in potential fines, EU antitrust regulators said on Tuesday as they announced efforts to encourage more whistleblowing. Launched in 1996 and revised several times since then, the European Commission’s leniency…
By Shashwat Chauhan (Reuters) -Canadian stocks rose on Tuesday, echoing an upbeat sentiment on Wall Street as Treasury yields fell, while top cannabis producer Canopy Growth surged on plans to create a holding company to speed up its entry into the United States. Shares of Canopy Growth jumped 21.9%, among the top gainers on the…
WASHINGTON (Reuters) – U.S. single-family home prices fell sharply on a monthly basis in August as surging mortgage rates dampened demand for housing, closely watched surveys showed on Tuesday. The S&P CoreLogic Case Shiller national home price index dropped 0.9% on a seasonally adjusted basis after slipping 0.5% in July. Monthly house prices decreased in…
(Reuters) -Top Canadian cannabis producer Canopy Growth Corp is creating a holding company to speed up its entry into the United States and complete the purchase of Acreage Holdings Inc, Wana Brands and Jetty Extracts, it said on Tuesday. Its U.S.-listed shares rose 4.8% in premarket trade as the deals are expected to give Canopy…
BERLIN (Reuters) -Volkswagen is entering into direct purchase agreements in unprecedented areas to tackle the worst supply chain shortages the company has seen, its purchasing chief Murat Askel said at a conference in Berlin on Tuesday. The carmaker was also building a database to help predict geopolitical, natural and supply chain risks ahead of time,…
(Reuters) -Refiner Valero Energy Corp reported a bumper third-quarter profit on Tuesday, boosted by higher demand for fuel and refined products. U.S. refineries have operated this year at record levels due to plant closings, quick recovery of domestic demand and strong export demand over Russia’s invasion of Ukraine. San Antonio, Texas-based Valero’s total refinery throughput…
(Reuters) – United Parcel Service Inc on Tuesday reported a rise in third-quarter adjusted profit as higher delivery prices offset softening e-commerce demand. In the wake of falling e-commerce demand and receding domestic volume, delivery firms such as UPS and FedEx Corp have banked on higher-paying small businesses and enterprise customers to drive volumes and…
By Nivedita Bhattacharjee BENGALURU (Reuters) -Popular messaging app WhatsApp stopped working for many people across the world on Tuesday, with users in Asia, the United Kingdom, South Africa and Europe reporting issues sending and receiving texts and videos. At around 0750 GMT, outage reporting site Downdetector showed over 68,000 users had reported problems with the…
By Noele Illien ZURICH (Reuters) -UBS logged a smaller-than-expected 24% slide in third-quarter net profit with robust client inflows and lower costs helping to ameliorate the impact of turbulent financial markets. The Swiss bank attracted $17 billion in net new fee generating assets in wealth management and $18 billion of net new money in asset…
