Corporate Dispatch

BMW Recalls 90,000 cars with Takata Airbags: ‘Do Not Drive’ Order Issued

BMW North America has issued an urgent “do not drive” order for approximately 90,000 cars built between 2000 and 2006 due to a recall related to the Takata-made driver-side airbag…

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Deutsche Bank CEO not worried about a bank crisis in Europe

FRANKFURT, May 4 (Reuters) - Deutsche Bank Chief Executive Officer Christian Sewing said on Thursday that he was not worried about a banking crisis coming to Europe. Sewing, speaking at…

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As sales decline, Adidas faces pressure to find Yeezy fix

Adidas could donate Yeezy shoe proceeds to charity Anti-Defamation League "ready to work with Adidas" Analysts expect Q1 sales to fall 4% By Helen Reid LONDON, May 4 (Reuters) -…

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Volkswagen revenue jumps on growth in Europe, North America

BERLIN, May 4 (Reuters) - Volkswagen posted a 21.5% gain in first-quarter revenue on Thursday, boosted by higher prices and strong growth in Europe and North America, but operating profit…

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Volvo Cars to axe 1,300 jobs as it steps up cost cuts

COPENHAGEN, May 4 (Reuters) - Volvo Cars will lay off around 1,300 office-based employees in Sweden as it steps up cost cutting, the Sweden-based auto maker said on Thursday. While…

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Bosch looks to growth in cars, heating systems

FRANKFURT, May 4 (Reuters) - German technology group Robert Bosch expects 6% to 9% revenue growth this year from 88.2 billion euros ($97.49 billion) in 2022 and an EBIT margin…

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Microsoft’s Bing Chat AI is now open to everyone, upgrades features

May 4 (Reuters) - Microsoft Corp MSFT.O is making its new AI-powered Bing available to everyone and is transitioning the service from text-only search and chat to a more visual…

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Maersk expects recent drop in container demand to stabilize by mid-year

By Jacob Gronholt-Pedersen COPENHAGEN, May 4 (Reuters) - Shipping group Maersk on Thursday reported first-quarter earnings above expectations and maintained its 2023 profit guidance as it expects a recent drop…

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Baby products retailer Mothercare in refinancing talks with lender

May 4 (Reuters) - Mothercare on Thursday it had begun discussions with its lender to change, renegotiate, or refinance its debt facility due to higher interest rates, and warned that…

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First Admiral Container Lines vessel calls in Malta

Focal Maritime Services who was recently appointed general agent for Admiral Container Lines of Turkey, today welcomed the first call of this service, when the m/v AIPP GOLD called at…

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MDB plays crucial role in facilitating access to finance by mobilising private investment

The Malta Development Bank’s various financing schemes have continued to provide an effective mechanism to mobilise private investment, thereby facilitating access to finance, supporting local businesses in their quest for…

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Subway shed more U.S. sandwich shops in 2022

By Hilary Russ NEW YORK, May 1 (Reuters) - Subway, which is exploring a potential $10 billion sale, further shrank last year in the United States as franchisees closed 2.7%…

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American Airlines pilots vote to authorize strike

May 1 (Reuters) - A union representing American Airlines Group Inc pilots said on Monday its members had approved a strike mandate ahead of the busy summer travel season, although…

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Qatar Airways CEO says no intention of investing in Air Serbia

DUBAI, May 1 (Reuters) - Qatar Airways has no intention of investing in Air Serbia, its CEO, Akbar Al Baker, said on Monday, but the two airlines signed a codeshare…

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JP Morgan to buy First Republic’s assets and assume deposits

May 1 (Reuters) - United States regulators said on Monday First Republic Bank has been seized and a deal agreed to sell the bank to JPMorgan Chase & Co ,…

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Adidas wants to ‘double down’ on U.S. market – regional head tells WSJ

FRANKFURT, April 30 (Reuters) - Adidas , which has come under pressure after ending its lucrative Yeezy shoe partnership with Kanye West, is trying to grab a bigger slice of…

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Cutting ties with China is ‘unthinkable’, Mercedes-Benz CEO tells BamS

FRANKFURT, April 30 (Reuters) - Cutting economic ties with China is unrealistic, the chief executive of luxury carmaker Mercedes-Benz told tabloid newspaper Bild am Sonntag, and said attempting to do…

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‘Big Three’ credit rating firms maintain iron grip in Europe

By Marc Jones LONDON (Reuters) - S&P Global, Moody's and Fitch, the so-called 'Big Three' credit ratings agencies, are maintaining their dominance of Europe's credit score market despite the region's…

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STMicroelectronics, GlobalFoundries win EU approval for French chip factory

Chipmakers STMicroelectronics and GlobalFoundries secured EU approval on Friday to build a chip factory with French state aid in France.The companies announced their plan in July last year, with the new facility…

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STMicroelectronics posts better-than-expected Q1 results

By Martin Coulter LONDON, April 27 (Reuters) - European chipmaker STMicroelectronics reported better-than-expected first-quarter results on Thursday. The company's revenue jumped 20% year-over-year to $4.25 billion in the quarter, outperforming…

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Hyundai Motor to exit Russia, selling its plants

SEOUL (Reuters) - South Korea's Hyundai Motor Co plans to exit Russia and sell its manufacturing plants there to a Kazakh company, South Korean media reported. South Korean TV network…

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Harley profit boosted by higher demand for popular bikes

April 27 (Reuters) - Harley-Davidson Inc reported a near 37% rise in quarterly profit on Thursday, as a series of price hikes helped the motorcycle maker take advantage of steady…

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No let-up seen on sugar price spike as Brazil harvest skids

By Marcelo Teixeira NEW YORK (Reuters) - Global benchmark sugar prices are expected to remain supported even after rising this week to the highest since 2011 as a disappointing start…

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Robusta coffee prices skyrocket on blend boost, slow flow

By Roberto Samora and Marcelo Teixeira SAO PAULO/NEW YORK, April 27 (Reuters) - Prices for robusta coffee, historically a cheaper variety than the milder arabica beans, reached the highest levels…

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Barbie maker Mattel swings to loss as retailers cut orders, costs rise

By Granth Vanaik (Reuters) - Mattel Inc posted a bigger-than-expected loss for the first quarter as it grappled with higher costs and retailers cutting back on orders. Consumer companies have…

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UPDATED: Deutsche Bank to cut 800 jobs after strong first quarter

Job cuts in non-client facing jobs Deposits drop by 5%, seen recovering 11th quarter of profit Investment bank revenue falls By Tom Sims and Marta Orosz FRANKFURT, April 27 (Reuters)…

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Microsoft results top forecasts

(Reuters) - Microsoft Corp beat Wall Street's estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company…

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VW’s Skoda aims for six electric vehicle models by 2026

PRAGUE, April 26 (Reuters) - Czech carmaker Skoda Auto, part of German group Volkswagen VOWG_p.DE, wants to expand its electric vehicle range to six models by 2026, the company said,…

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Cost inflation is slowing but shoppers may not see lower prices soon

By Richa Naidu and Dominique Vidalon LONDON/PARIS, April 26 (Reuters) - The world's top consumer goods companies, making everything from instant noodles to soap and ice cream, are paying less…

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Microsoft launches its first datacenter region in Poland

Microsoft announced the opening of its newest trusted cloud region, the first in Central and Eastern Europe, located in Poland. Microsoft’s Polish cloud region consists of three independent physical locations…

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Italy, Lufthansa extend exclusive talks on ITA Airways sale

Italy's Treasury and Germany's Lufthansa have agreed to extend exclusive talks over the sale of ITA Airways until May 12 from the previous deadline of April 24, a source close…

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Working with Microsoft, Zegna adds AI to digital toolkit to engage clients

Since 1910, the Italian fashion house Zegna has built its reputation on high-quality fabrics, particularly cashmere and wool, and a refined expression of elegance for men. The company’s latest moves…

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HSBC investors hold talks as proxy advisors oppose Asia spinoff

LONDON (Reuters) - HSBC's most vocal individual activist shareholder Ken Lui on Monday said he had spoken for the first time with the bank's largest investor, Ping An, about their…

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23

Apr

Ford must rethink its brand for China as EVs boom, CEO says

DETROIT, April 20 (Reuters) - Facing a booming and hyper-competitive market for electric vehicles (EVs) in China, Ford Motor Co F.N needs to reshape its brand for the world's largest…

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Portugal’s government in hot water as TAP airline scandal deepens

By Sergio Goncalves LISBON (Reuters) - Portugal's government fired the chief executive of flag carrier TAP last month without a legal assessment of the move, Finance Minister Fernando Medina has…

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Eurowings CEO expects flight prices to rise

BERLIN, April 21 (Reuters) - Eurowings CEO Jens Bischof expects flight prices at the Lufthansa subsidiary to increase further due to rising fuel, personnel, and airport costs, according to a…

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BAE Systems and Microsoft join forces to equip defence programmes with innovative Cloud technology

BAE Systems and Microsoft have signed a strategic agreement aiming to support faster and easier development, deployment and management of digital defence capabilities in an increasingly data centric world. The…

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Twitter drops ‘government-funded’ label on media accounts, incl in China

April 21 (Reuters) - Twitter dropped the "Government-funded" and "China state-affiliated" labels, which implies government involvement in editorial content, from the accounts of various global media organizations, their profiles showed…

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Opposition leader visits Focal Maritime: the new realities of the maritime sector on the agenda

The challenges and opportunities of the maritime industry in Malta were the key subject of discussions during a visit by Opposition Leader Dr Bernard Grech and Mr Ivan Castillo, Opposition…

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Pope loses verified status on Twitter, US basketball star LeBron James remains

By Yuvraj Malik (Reuters) - Twitter began removing legacy blue checkmarks from user profiles, with famous people including pop icon Beyonce and Pope Francis losing their verified statuses. Some personalities…

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Malta to get first carbon neutral building in Santa Venera

A commercial office block in Santa Venera has been developed using sustainable material targeting carbon neutral, making it the first of its kind in Malta. Like other European countries, Malta…

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Musk says Tesla likely to launch full self-drive technology ‘this year’

By Hyunjoo Jin SAN FRANCISCO (Reuters) - Elon Musk said that electric vehicle (EV) giant Tesla likely will launch full self-drive technology this year and generate significant profits that offset…

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U.S. crypto exchange Coinbase secures Bermuda licence

By Elizabeth Howcroft LONDON, April 20 (Reuters) - Major U.S. crypto exchange Coinbase Global Inc COIN.O has said it has secured a licence to operate in Bermuda, as part of…

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UK’s Jet2 confident on summer as holiday demand stays strong

By Sarah Young LONDON, April 20 (Reuters) - Jet2 plc, Britain's biggest tour operator, upgraded its annual profit forecast and said trading for the coming summer was encouraging with demand…

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19

Apr