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(Reuters) – Lucid Group Inc first-quarter revenue missed Wall Street estimates on Monday and its net loss widened as sales came under pressure after aggressive price cuts from electric-vehicle market leader Tesla Inc <TSLA.O>, sending shares lower by about 6% in extended trading. Tesla’s move to cut prices and increase volume, a strategy which CEO …

EV maker Lucid’s quarterly revenue misses estimates on weak demand Read More »

(Reuters) – Zoltan Pozsar, a widely followed Credit Suisse markets guru, has left the bank, part of an exodus of staff that started in the months before the lender’s shotgun takeover by rival UBS, the Wall Street Journal reported on Monday. Pozsar left Credit Suisse in recent months, according to the report, which cited a …

Credit Suisse economist Zoltan Pozsar leaves the bank – WSJ Read More »

By Ludwig Burger and Patricia Weiss FRANKFURT (Reuters) -Germany’s BioNTech, Pfizer’s partner on COVID-19 vaccines, said on Monday its first-quarter net income plunged on lower demand for the shots as it widens its work on cancer and other diseases. BioNTech, which reported it had built up an 18.6 billion euro ($20.55 billion) balance of cash …

Cash-rich BioNTech broadens scope as COVID shot sales slide Read More »

By Supantha Mukherjee STOCKHOLM (Reuters) – Estonian ride-hailing and food delivery startup Bolt expects to turn profitable in the next 12 months and be ready for an initial public offering in 2025, its Chief Executive Officer Markus Villig said in an interview. The company, a rival of Uber, was valued at over $8 billion when …

Uber rival Bolt seeks to turn profitable next year, IPO in 2025 Read More »

PARIS (Reuters) – Ryanair is close to signing a major new aircraft order with Boeing, two people familiar with the matter said on Monday. The multi-billion-dollar deal for a three-digit quantity of 737 MAX jets could be announced as early as Tuesday, they added, asking not to be named. Boeing and Ryanair declined to comment. …

Ryanair close to placing major Boeing order -sources Read More »

BERLIN (Reuters) – Investor morale in the euro zone took a surprising dip in May, with stubborn inflation and energy concerns upending expectations of a spring recovery, a survey showed on Monday. Sentix’s index for the euro zone fell to -13.1 points for May from -8.7 in April. Analysts polled by Reuters had expected it …

Euro zone investor morale unexpectedly dips in May Read More »

By Amruta Khandekar (Reuters) -European shares edged higher on Monday, with energy and bank stocks spearheading gains, but were range-bound ahead of key U.S. inflation data due later in the week that would offer more cues on the Federal Reserve’s monetary policy path. The pan-European STOXX 600 rose 0.2% to 466.29 points by 0805 am …

European shares edge higher as energy, bank stocks gain; US inflation data eyed Read More »

SINGAPORE (Reuters) -Cryptocurrency exchange Binance halted bitcoin withdrawals for several hours on Monday, citing heavy volumes and a surge in processing fees, before clearing them at a higher cost. Late on Sunday and again early on Monday the world’s biggest crypto exchange shut bitcoin withdrawals saying there was a glut of pending transactions because it …

Binance lifts block on bitcoin withdrawals amid heavy volumes Read More »

By Maria Martinez BERLIN (Reuters) -German industrial production fell more than expected in March, partly due to a weak performance by the automotive sector, spurring again recession fears in Europe’s largest economy. Production decreased by 3.4% on the previous month following a slightly revised increase of 2.1% in February, the federal statistical office said on …

German industrial output slumps, recession fears rise Read More »