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STOCKHOLM (Reuters) -Sweden-based Volvo Cars said on Thursday its car sales grew in December but fell for the full year due to lockdowns in China, component shortages and other supply chain trouble. Volvo Cars, which is majority-owned by China’s Geely Holding, said sales grew 13% year-on-year in December to 72,663 cars, a slight acceleration from …

Volvo Cars’ sales rise in December, but down for 2022 amid supply chain headwinds Read More »

By Nerijus Adomaitis and Christoph Steitz OSLO (Reuters) – Equinor and RWE said on Thursday they planned to develop an industrial value chain for the production and use of low-carbon hydrogen, allowing Germany to reduce its reliance on coal power and thus cut CO2 emissions. The two companies plan to build new power plants in …

Equinor and RWE to build hydrogen supply chain for German power plants Read More »

LONDON (Reuters) – The boss of British clothing retailer Next said that while the consumer outlook for 2023 had darkened he took comfort from the country’s low level of unemployment. “If I look at the things that are of comfort, I think the strength of employment and employment opportunities in the UK is one of …

Next takes comfort from UK’s low unemployment -CEO Read More »

KYIV (Reuters) -Ukraine’s gross domestic product fell by 30.4% in 2022 – the largest annual fall in over 30 years – because of the war with Russia, Economy Minister Yulia Svyrydenko said on Thursday. Svyrydenko, who is also first deputy prime minister, said in a statement that Ukraine’s economy had suffered its largest losses since …

Ukraine’s economy falls 30.4% in 2022 because of war – minister Read More »

By James Davey LONDON (Reuters) – British clothing retailer Next forecast lower profit in its 2023-24 year, reflecting uncertainty over whether consumers would keep spending during a recession and as the group’s costs rise. Next trades from about 500 stores and online and is often considered a gauge of how British consumers are faring. It …

Britain’s Next sees lower profit in 2023 as consumer outlook darkens Read More »

By Tom Hals and Dietrich Knauth (Reuters) -U.S. prosecutors are in the process of seizing shares of Robinhood Markets Inc tied to Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange, a U.S. attorney told a judge on Wednesday. The Department of Justice did not believe the 56 …

U.S. DOJ in process of seizing Robinhood shares tied to Bankman-Fried Read More »

By Padraic Halpin DUBLIN (Reuters) – Ryanair hiked its forecast for after-tax profit by up to 325 million euros on Wednesday, citing recent pent-up travel demand while warning that COVID-19 and the war in Ukraine could still affect the outcome. Europe’s largest airline by passenger numbers saw profit for the year to end-March at between …

Ryanair hikes full year profit forecast after strong Christmas season Read More »

By Gilles Guillaume PARIS (Reuters) -Carmaker Stellantis will help build Archer Aviation’s electric aircraft and increase its stake in the U.S. company, the two firms said on Wednesday, driving Archer’s shares up nearly 17%. Industrial firms and new startups are flocking to invest in air taxis, which can take off and land vertically to ferry …

Stellantis to build U.S. firm Archer’s air taxi, up stake Read More »