By Alex Lawler LONDON (Reuters) – The gamble taken by OPEC and its allies, under pressure from top oil consumer the United States, to raise oil output in January despite its own forecasts of oversupply, appears to be paying off as prices stabilise. Oil has steadied around $75 a barrel as market participants brush off …
OPEC+ output hike gamble pays off as oil prices recover Read More »
FRANKFURT (Reuters) – Volkswagen is readying its battery unit for a partial sale or listing and has agreed to convert it into a so-called European company, or Societas Europaea, to provide the conditions for such a move, CEO Herbert Diess said. Diess, speaking after the carmaker provided details on its new five-year investment plan, said …
Volkswagen prepares battery division for capital markets – CEO Read More »
By Svea Herbst-Bayliss NEW YORK (Reuters) – Activist hedge fund Macellum Advisors GP LLC is planning to nominate directors to Kohl’s Corp’s board because it believes the U.S. retailer has not done enough to improve its business, two people familiar with the matter said. It would be the second time that Macellum has pushed for …
Exclusive: Activist investor Macellum prepares Kohl’s board challenge -sources Read More »
SAO PAULO (Reuters) -Shares in Brazil’s Braskem SA plunged on Thursday after state-run oil company Petrobras said it has yet to decide when and how to proceed with the proposed sale of its stake in the petrochemicals producer. Petroleo Brasileiro SA, as Petrobras is formally known, said in a securities filing that it is still …
Braskem shares plunge on delayed Petrobras disposal Read More »
(Reuters) -Wall Street analysts have begun rolling out their predictions for U.S. equity markets in 2022. The benchmark S&P 500 index has risen nearly 25% so far this year. It closed at 4,701.21 on Wednesday. Here is a summary of some analysts’ forecast for the index: BROKERAGE NAME S&P500 TARGET @ END 2022 Morgan Stanley …
Factbox-Wall Street analysts’ 2022 outlook for S&P 500 Read More »
FRANKFURT (Reuters) – Volkswagen on Thursday said it would ramp up spending for battery-powered electric vehicles by around 50% to 52 billion euros ($59 billion) by 2026 as part of the group’s far-reaching transformation. The investment is part of Volkswagen’s new revolving 5-year spending plan, which foresees total investments of 159 billion euros in the …
Volkswagen ramps up e-mobility spending to $59 billion by 2026 Read More »
BERLIN (Reuters) -Germany’s car watchdog has cleared Mercedes-Benz’s semi-autonomous driving system, paving the way for the Daimler AG subsidiary to begin offering its Drive Pilot system internationally. The highly automated system allows the driver to focus on other activities while a car equipped with the technology is in heavy traffic or on congested highways, Mercedes-Benz …
Germany clears Mercedes-Benz’s hands-free drive system Read More »
MEXICO CITY (Reuters) – Mexican annual inflation accelerated faster than expected in November to its highest level in over two decades, official data showed on Thursday, reinforcing bets the central bank will raise its benchmark interest rate again when it meets next week. Figures from national statistics agency INEGI showed inflation in Latin America’s No. …
Mexico inflation quickens faster than expected to 20-year high Read More »
By Elvira Pollina and Maria Pia Quaglia MILAN (Reuters) -Italy’s antitrust watchdog said on Thursday it had fined Amazon 1.13 billion euros ($1.28 billion) for alleged abuse of market dominance, in one of the biggest penalties imposed on a U.S. tech giant in Europe. Amazon said it “strongly disagreed” with the Italian regulator’s decision and …
Italy fines Amazon record $1.3 billion for abuse of market dominance Read More »
(Reuters) – Meta Platforms Inc’s cryptocurrency wallet, Novi, will allow users to send and receive money through the social media giant’s messaging app, WhatsApp. The pilot program is open to a limited number of people in the United States, Novi head Stephane Kasriel said in a tweet late on Wednesday. Using Novi does not change …
Meta’s WhatsApp will allow crypto payments through Novi wallet in U.S Read More »
