STOCKHOLM (Reuters) – Volvo Cars reported on Friday quarterly earnings below expectations, and said it expected to continue growing sales volume in 2022. The Swedish carmaker’s fourth-quarter operating profit fell to 3.7 billion Swedish crowns ($396.4 million) from 4.9 billion a year ago, compared to a 4.77 billion mean forecast in a Refinitiv poll. ($1…
WASHINGTON (AP) — Since the pandemic erupted two years ago, Forest Ramsey and his wife, Kelly, have held the line on prices at their gourmet chocolate shop in Louisville, Kentucky. Now, they’re about to throw in the towel. In the past year, the costs of ingredients for their business, Art Eatables, have surged between 10%…
(Reuters) – Amazon.com Inc on Thursday informed staff at its U.S. warehouses and logistics sites that they must report being fully vaccinated by March 18 if they wish to receive paid leave due to COVID-19. The company also said fully vaccinated operations staff could work without a face covering starting on Friday as local regulations…
KUALA LUMPUR (Reuters) -Capital A Bhd , which owns Malaysia’s flagship budget airline AirAsia, is forming an independent board for its aviation arm while mulling a separate listing of the business as the market recovers, its chief said on Friday. Capital A Chief Executive Tony Fernandes told reporters in a virtual briefing that all companies…
CAPE CANAVERAL, Fla. (AP) — SpaceX’s Elon Musk said Thursday that the first orbital flight of his towering Starship — the world’s most powerful rocket ever built — could come in another month or two. While he anticipates failures, he’s confident Starship will reach orbit by the end of this year. Musk provided his first…
By Byron Kaye and Scott Murdoch SYDNEY (Reuters) -Australia on Friday withdrew a cartel lawsuit against Citigroup Inc, Deutsche Bank AG and several former executives over a $1.8 billion share issue, a stunning retreat from what would have been the country’s biggest white-collar criminal trial. After nearly four years of pre-trial hearings in packed courtrooms,…
By Anshuman Daga SINGAPORE (Reuters) -Activist investor Quarz Capital Management said it is opposed to the terms of a proposed S$4.2 billion ($3.1 billion) merger of two Temasek-linked Singapore real estate investment trusts, saying the target firm was significantly undervalued. It is urging Mapletree North Asia Commercial Trust (MNACT) to negotiate an improved offer from…
(Reuters) – Members of the billionaire Sackler family that owns Purdue Pharma are weighing whether to add $1 billion to the OxyContin-maker’s faltering opioid settlement bid in an effort to win over holdouts, Bloomberg News reported on Thursday. The addition would bring the family’s total contribution to $5.325 billion to get a handful of U.S….
SHANGHAI (Reuters) – U.S. electric carmaker Tesla plans to place its China design centre in Beijing, a government document issued by the Chinese capital said. Tesla said in 2020 it planned to open such a centre in the country to make “Chinese-style” vehicles but has not said where it would be. Last year, Reuters reported…
By Emily Chow BEIJING (Reuters) – Oil prices eased early on Friday as hot U.S. inflation fanned worries about aggressive interest rate hikes and as investors await the outcome of U.S.-Iran talks that could lead to increased global crude supply. Brent crude futures fell 40 cents, or 0.4%, to $91.01 a barrel at 0140 GMT,…
