By Helen Coster and Eva Mathews (Reuters) -Bloomberg Media Chief Executive Officer Justin Smith is stepping down, effective immediately, to start a new media firm, Smith wrote in a tweet on Tuesday. “After 8 years at Bloomberg Media, and more than 25 years in quality journalism, I’ve decided to pursue a personal dream, and a…
By David Shepardson WASHINGTON (Reuters) – Japanese automaker Toyota Motor Corp outsold General Motors Co in the United States in 2021, marking the first time the Detroit automaker has not led U.S. auto sales for a full year since 1931. Toyota sold 2.332 million vehicles in the United States in 2021, compared to 2.218 million…
(Reuters) – General Motors Co reported a second straight drop in quarterly U.S. auto sales on Tuesday, as semiconductor shortages and supply chain snarls hit production amid high pent-up demand in the country. The U.S. automaker said fourth-quarter sales fell 43% to 440,745 vehicles, compared with 771,323 vehicles a year earlier. General Motors said 2021…
By Medha Singh and Bansari Mayur Kamdar (Reuters) – Apple Inc looked set to cross $3 trillion in market value at open on Tuesday, after the world’s most valuable company briefly hit the milestone a day earlier. The iPhone maker’s shares rose half a percent to $182.87 in premarket trading. Shares breached $182.86 in intraday…
By Bozorgmehr Sharafedin LONDON (Reuters) -Oil prices rose on Tuesday as investors expected OPEC+ producers meeting on output to stick with their planned increase for February based on indications Omicron would have only a mild impact on demand. Brent crude was up 48 cents, or 0.6%, at $79.46 a barrel at 1310 GMT, while U.S….
LONDON (Reuters) – Insured losses of $44 billion from COVID-19 so far represent the third largest cost to insurers of any catastrophe, behind Hurricane Katrina and the 9/11 attacks, insurance broker Howden said on Tuesday. However, initial projections of $100 billion-plus for COVID-19 insured losses now look “improbable”, Howden said in a report on reinsurance…
(Reuters) -Private equity firm TPG said on Tuesday it was seeking a valuation of up to $9.3 billion in its initial public offering in the United States. The Fort Worth, Texas-based company plans to sell around 28.3 million shares priced between $28 and $31 each. It would raise about $877.6 million at the top end…
By Clare Jim HONG KONG (Reuters) – China Evergrande Group’s shares soared briefly in resumed trade on Tuesday after the developer said a government order to demolish 39 buildings on the resort island of Hainan would not affect the rest of its massive project there. The firm, struggling to repay more than $300 billion in…
LONDON (Reuters) – The U.S. dollar rose to a five-year high versus the yen on Tuesday, boosted by expectations of U.S. Federal Reserve rate hikes, as investors bet that the fast-spreading Omicron coronavirus variant would have limited economic impact. In the second trading day of 2022, global markets extended the upbeat moves seen on Monday….
SHANGHAI (Reuters) – Tesla’s announcement that it has opened a showroom in Xinjiang has attracted criticism from U.S. rights and trade groups, making it the latest foreign firm caught up in tensions related to the far-western Chinese region. Xinjiang has become a significant point of conflict between Western governments and China in recent years, as…
