TOKYO (Reuters) -Panasonic Holdings Corp, which makes batteries for Tesla, said on Wednesday it had shipped samples of its more powerful 4680 format electric car battery to the U.S electric vehicle maker as it prepares for a surge in North American power pack production. Panasonic said mass production of the new battery is set to…
(Reuters) – Michael Kors owner Capri Holdings Ltd raised its full-year profit forecast on Wednesday, signaling robust demand for its luxury goods as higher-income consumers return to their old shopping routines. Shares of the company, which owns Versace and Jimmy Choo, rose about 6% to $51.51 in premarket trading. The effects of 40-year-high inflation has…
(Reuters) – Binance Labs, the venture capital arm of cryptocurrency exchange Binance, said on Wednesday it had raised $500 million for its investment fund focused on companies involved in the blockchain and Web3 spaces. The fund is supported by investment firms DST Global Partners, Breyer Capital and Whampoa Group as well as by other private…
By Lisa Richwine LOS ANGELES (Reuters) – Cinemark Holdings Inc has signed up 1 million paying subscribers to its Movie Club monthly subscription plan, the company said on Wednesday, hailing a rebound in moviegoing after disruptions from the coronavirus pandemic. The third-largest movie theater chain in the United States said it was the first cinema…
By Tom Wilson and Tom Westbrook LONDON/SINGAPORE (Reuters) – European stocks made slim gains on Wednesday, with the dollar strengthening as investors fretted over soaring inflation and the hit on global growth from looming interest rate rises. Europe’s STOXX 600 index added 0.3%, with bourses in London and Paris climbing 0.2% and 0.4% respectively. Banks…
By Susan Mathew (Reuters) -European shares gave up early gains on Wednesday as weak German retail sales and slowing factory activity in the euro zone fanned worries about economic growth amid record high inflation. The pan-European STOXX 600 index was down 0.3%, after gaining as much as 0.4% in early trading. The benchmark shed 1.6%…
(Correct second paragraph to say Fidelity Digital Assets plans to fill 210 new positions, and not 110 as previously reported) (Reuters) -Fidelity Investments’ digital assets arm will double down on hiring this year as it looks to beef up its resources to serve clients who want to invest in crypto assets that trade round the…
BERLIN (Reuters) – Tesla works at twice the industry pace in many processes but still needs to ramp up highly complex factories and find qualified workers to win the electric vehicle race, Volkswagen’s chief executive said on Wednesday. The U.S. carmaker, posing a challenge to German electric vehicle production with its new plant near Berlin,…
(Reuters) – Russian gas producer Gazprom has cut off gas supplies to Denmark’s Orsted and to Shell Energy for its contract to supply gas to Germany, it said on Wednesday, citing the companies’ failure to make payments in roubles. Gazprom has already halted supplies to Dutch gas trader GasTerra, as well as to Bulgaria, Poland…
A look at the day ahead in markets from Sujata Rao. From Wednesday, the U.S Federal Reserve starts allowing the bonds it holds to mature, and will no longer replace them — so called quantitative tightening (QT). Its aim is to allow $95 billion to roll off its balance sheet per month but it will…
