By Kannaki Deka and Joseph White (Reuters) -U.S. new vehicle sales could fall to the lowest first-quarter volume in the past decade as chip shortages and the Ukraine crisis squeeze inventories and rising prices push less affluent buyers out of the market, research firm Cox Automotive said Monday. U.S. car and light truck sales are…
By David Lawder WASHINGTON (Reuters) -The U.S. Treasury on Monday proposed a new mechanism to comply with and enforce a 15% global corporate minimum tax agreed to last year by 136 countries, partly by denying deductions for taxes paid in jurisdictions with lower rates. The new Undertaxed Profits Rule proposed as part of President Joe…
FRANKFURT (Reuters) – Bayer shareholder Union Investment on Monday came out in support of the drugmaker’s chief executive serving out his full term after the CEO came under renewed pressure over the company’s performance. The support of Germany’s Union Investment, which is a top-20 shareholder, for CEO Werner Baumann to see out his contract to…
By Nivedita Balu and Akash Sriram (Reuters) – Tesla Inc will seek investor approval to increase its number of shares to enable a stock split in the form of a dividend, the electric-car maker said on Monday, sending its shares up about 5%. The plan came as the company suspended its Shanghai factory amid COVID-19-related…
WASHINGTON (Reuters) – The U.S. Treasury on Monday proposed a new mechanism to comply with and enforce a 15% global corporate minimum tax agreed last year by 136 countries, partly by denying deductions for taxes paid in jurisdictions with lower rates. The new Undertaxed Profits Rule proposed as part of President Joe Biden’s fiscal 2023…
(Corrects to show that Novatek did not respond to requests for comment, not that it declined to comment) By Chen Aizhu, Julie Zhu and Muyu Xu (Reuters) – China’s state-run Sinopec Group has suspended talks for a major petrochemical investment and a gas marketing venture in Russia, sources told Reuters, heeding a government call for…
(Reuters) – JetBlue Airways Corp said on Monday it would add 5,000 jobs in all sections of its operations in New York this year, as U.S. carriers ramp up their hiring plans amid a rebound in travel. In January, American Airlines Group Inc said it planned to hire another 18,000 employees this year after adding…
By Alexander Hübner and Elvira Pollina BERLIN/MILAN (Reuters) -German broadcaster ProSiebenSat.1 said top investor MediaForEurope (MFE) has rejected an offer of a seat on its supervisory board, suggesting no compromise has been reached ahead of a shareholder vote in May. Previously known as Mediaset, MFE has repeatedly called for closer cooperation with the Munich-based group,…
By Bansari Mayur Kamdar and Amruta Khandekar (Reuters) – The S&P 500 was trading largely flat on Monday as gains in Tesla were offset by declines in bank and energy shares, ahead of the first face-to-face peace talks between Ukraine and Russia in more than two weeks. The electric-car maker jumped 5.3% after saying that…
(Reuters) – U.S. lawmakers have launched a probe into Credit Suisse Group AG’s compliance with sanctions related to Russia’s invasion of Ukraine and asked the Swiss bank to hand over any information related to it, according to a Wall Street Journal report on Monday. (Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)
