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By Helena Soderpalm STOCKHOLM (Reuters) -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 Nasdaq Stockholm in October, were also dented by raw material costs and accounting changes at electric vehicle (EV) venture Polestar, in which it owns …

Volvo Cars warns supply chain woes could remain as profit lags forecasts Read More »

ZURICH (Reuters) – Swiss consumer price inflation touched 1.6% in January, the highest level since late 2008, as it moved closer to the 2% upper band of the Swiss National Bank’s definition of price stability. Prices rose by 0.2% from December as gas, hotel stays and used cars became more expensive, offsetting falling prices for …

Swiss inflation hits 13-year high in January Read More »

(Reuters) – 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 wage growth in the United States. The brokerage, which cut its rating on global equities for the first time since the peak of the …

Credit Suisse downgrades global equities on key macro concerns Read More »

BERLIN (Reuters) – Germany’s Chambers of Industry and Commerce (DIHK) on Friday cut its 2022 growth forecast for Europe’s biggest economy to 3.0% from the 3.6% it had predicted in October due to rising energy prices, raw material shortages and the lack of skilled workers. The survey of almost 28,000 firms across all sectors showed …

German DIHK poll shows more pessimism: ‘Economy is holding its breath’ Read More »

(Reuters) – French TV group TF1 reported on Friday a 14.2% rise in full-year advertising revenue as the economic recovery helped boost advertising spending. The Paris-based company, which owns France’s most popular channel, said that advertisers continued to value the appeal of television as it faces fierce competition from digital players. Advertising spending is recovering …

France’s TF1 full-year advertising revenue, profit jumps Read More »

LONDON (Reuters) -Britain’s competition regulator said on Friday it had accepted a revised offer from Google of commitments relating to its plan to ban third-party cookies that advertisers use to track consumers. The Competition and Markets Authority (CMA) has been investigating Google’s plan to cut support for some cookies in Chrome – an initiative called …

UK watchdog accepts Google’s revised pledges on browser cookies Read More »

By Vladimir Soldatkin and Olesya Astakhova MOSCOW (Reuters) -Russian energy giant Rosneft’s net income jumped to a record 883 billion roubles ($11.7 billion) last year as demand recovered from pandemic-hit 2020, but the rebound was smaller than expected and sent its share price lower early on Friday. The sixfold earnings increase was below forecasts of …

Rosneft’s record annual earnings fall short of expectations Read More »