– U.S. equity funds lured massive inflows in the week to Feb. 9 as upbeat earnings reports and signs of easing tensions in Ukraine boosted risk appetite. Refinitiv data showed …
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Ford reconsiders India after halting production, this time for EVs
by Reutersby ReutersBy Aditi Shah NEW DELHI – Ford Motor Co said on Friday it is considering producing electric vehicles (EVs) in India for export, and possibly for sale in the domestic …
- Business News
Exclusive-New Rio Tinto chairman to weigh CEO’s future amid toxic culture crisis – sources
by Reutersby ReutersBy Clara Denina and Helen Reid LONDON/JOHANNESBURG – The incoming chairman of Rio Tinto will review the position of CEO Jakob Stausholm to determine whether he is suitable to lead …
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By Victoria Waldersee BERLIN – BMW will pay 3.7 billion euros ($4.2 billion) to take majority control of its Chinese joint venture after securing the necessary licence from Beijing, as …
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Analysis-World’s damaged supply chains brace for painful recovery
by Reutersby ReutersBy Mark John – Signs are growing that a global supply chain crisis which has confounded central bank inflation forecasts, stunted economic recoveries and compressed corporate margins could finally start …
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By David French NEW YORK – MetLife Inc is exploring the divestment of its U.S. variable annuity book as it seeks to free up resources to invest in higher-growth parts …
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– Global equity funds drew massive inflows in the seven days to Feb. 9 as investors cheered strong earnings results from U.S. and European companies, shrugging off concerns over a …
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BAT sales jump on vaping, oral nicotine; announces 2 billion stg buyback
by Reutersby ReutersLONDON -British American Tobacco on Friday reported a 7% rise in full-year adjusted revenue to 25.7 billion pounds ($34.8 billion), helped by sales of e-cigarettes and oral nicotine. The world’s …
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Telecom Italia board to discuss network spinoff in slow-burn KKR drama
by Reutersby ReutersBy Elvira Pollina MILAN – The board of Telecom Italia (TIM) will discuss the group’s overhaul on Monday as newly appointed chief executive Pietro Labriola strives to forge an alternative …
- Business News
Mercedes-Benz beats profit forecast, sees supply chain headwinds in 2022
by Reutersby ReutersBy Victoria Waldersee BERLIN – Mercedes-Benz Cars & Vans expects an adjusted earnings before interest and taxes (EBIT) of 14 billion euros ($15.9 billion) in 2021 and sees supply chain …
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Renault and U.S. carmaker Rivian back moratorium on deep-sea mining
by Reutersby ReutersBy Helen Reid JOHANNESBURG – France’s Renault and U.S. carmaker Rivian have backed a moratorium on deep-sea mining and will exclude seabed metals from their supply chains in a blow …
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Ford, Suzuki to get incentives under India’s $3.5 billion clean fuel scheme
by Reutersby ReutersBy Aditi Shah NEW DELHI – Ford Motor Co, Suzuki Motor Corp and Hyundai Motor are among 20 companies that will be eligible for incentives under India’s $3.5 billion scheme …
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BERLIN – Mercedes-Benz expects raw material prices and semiconductor shortages to continue to prevent it from meeting strong market demand for its products this year, the carmaker’s Chief Financial Officer …
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By Danielle Kaye NEW YORK – Peloton Interactive Inc’s star trainers are proving to be just as valuable as its stationary bikes to help the company survive after the pandemic. …
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Google’s advertising tech targeted in European publishers’ complaint
by Reutersby ReutersBy Foo Yun Chee BRUSSELS -Google on Friday was targeted in an antitrust complaint by the European Publishers Council over its digital advertising business, potentially strengthening EU antitrust chief Margrethe …
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Oracle’s Red Bull F1 title sponsorship deal worth $300 million – sources
by Reutersby ReutersSTOCKHOLM – Software giant Oracle’s title sponsorship agreement with the Red Bull Formula One team is worth about $300 million over five years, according to sources familiar with the deal. …
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Volvo Cars warns supply chain woes could remain as profit lags forecasts
by Reutersby ReutersBy Helena Soderpalm STOCKHOLM -Volvo Cars on Friday posted earnings below expectations pressured by global supply shortages despite strong demand for its vehicles. Profits at the carmaker, which listed on …
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China property developers shares up on reports they may have more access to funds
by Reutersby ReutersHONG KONG -Shares of Chinese property developers climbed on Friday, following media reports that the sector is gaining easier access to presale proceeds from residential projects – the latest move …
- Business News
Goldman ups Fed hike forecast to 7 rate increases in 2022 after CPI data
by Reutersby ReutersHONG KONG -Goldman Sachs said it expects seven 25 basis point interest rate rises from the U.S. Federal Reserve this year, up from its previous forecast of five and updating …
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– Credit Suisse on Friday downgraded global equities to “benchmark” rating from “overweight”, citing the need for the U.S. Federal Reserve to raise interest rates above market expectations amid higher …
- Department of Justice Press Releases
Gambino Crime Family Captain Sentenced to 37 Months in Prison and Ordered to Pay $1 Million in Restitution for Racketeering Conspiracy
by DOJ Pressby DOJ PressEarlier today, at the federal courthouse in Brooklyn, Andrew Campos, a captain in the Gambino organized crime family of La Cosa Nostra, was sentenced by United States District Judge Ann …
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A look at the day ahead in markets from Dhara Ranasinghe. An aggressive 50 basis point U.S. interest rate hike to contain inflation now appears like a no-brainer after the …
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By Dhara Ranasinghe and Sujata Rao LONDON -Worried about record-high inflation, the European Central Bank may have significantly raised the threshold where it might staunch bond market sell-offs in Italy …
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KUALA LUMPUR -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 …
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Column-After dire decade, Emerging Markets face Fed liftoff again: Mike Dolan
by Reutersby ReutersBy Mike Dolan LONDON – Whether emerging economies have already done enough to pre-empt the global central bank tightening cycle may dictate whether investors in them can escape yet another …