FILE PHOTO: The logo of Ferrari is seen on a sheet covering a car before a presentation at the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018. REUTERS/Pierre Albouy/File Photo MILAN (Reuters) – Italian luxury carmaker Ferrari confirmed its full-year targets after core earnings rose 14 in the first quarter, driven… Continue reading Ferrari sticks to FY targets after Q1 core profit up 14 percent
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BMW quarterly profit tumbles 78 percent, hit by 1.4 billion euro legal provision
FRANKFURT (Reuters) – BMW’s first-quarter operating profit fell 78 percent to 589 million euros, despite higher deliveries of luxury vehicles, as the carmaker felt the effects of higher investment spending and a 1.4 billion euro ($1.6 bln) legal provision. FILE PHOTO: A BMW logo is displayed at the 89th Geneva International Motor Show in Geneva,… Continue reading BMW quarterly profit tumbles 78 percent, hit by 1.4 billion euro legal provision
BMW CEO rules out taking Daimler stake as part of deeper alliance
Harald Krueger, Chief Executive of German luxury carmaker BMW, addresses the company’s annual news conference in Munich, Germany, March 20, 2019. REUTERS/Michael Dalder FRANKFURT (Reuters) – BMW’s Chief Executive Harald Krueger on Tuesday said there are no plans for the Bavarian carmaker to take a stake in rival Daimler as the two carmakers continue talks… Continue reading BMW CEO rules out taking Daimler stake as part of deeper alliance
As IPO looms, Uber clings to hard-knuckled tactics in pursuit of growth
SAN FRANCISCO/ CAPE TOWN (Reuters) – Uber co-founder and former CEO Travis Kalanick used to tell investors he liked to keep his company teetering between order and chaos. A traffic official checks an impounded Uber vehicle during a clampdown on drivers operating without permits in Cape Town, South Africa, May 4, 2019. REUTERS/Sumaya Hisham By… Continue reading As IPO looms, Uber clings to hard-knuckled tactics in pursuit of growth
UPDATE 2-Volkswagen sounds out buyers for MAN Energy Solutions -sources
FRANKFURT (Reuters) – Volkswagen has approached several companies to gauge their appetite for buying MAN Energy Solutions, which makes large diesel engines for ships and power generators, people close to the matter said. FILE PHOTO: Herbert Diess, Volkswagen’s new CEO, speaks at a Volkswagen Group’s media event ahead of the Beijing Auto Show in Beijing,… Continue reading UPDATE 2-Volkswagen sounds out buyers for MAN Energy Solutions -sources
UPDATE 1-Volkswagen sounds out buyers for MAN Energy Solutions -sources
FRANKFURT (Reuters) – Volkswagen has approached several companies to gauge their appetite for buying MAN Energy Solutions, which makes large diesel engines for ships and power generators, people close to the matter said. FILE PHOTO: Herbert Diess, Volkswagen’s new CEO, speaks at a Volkswagen Group’s media event ahead of the Beijing Auto Show in Beijing,… Continue reading UPDATE 1-Volkswagen sounds out buyers for MAN Energy Solutions -sources
Volkswagen teams up with China’s NIU to make e-scooters: Die Welt
FILE PHOTO: People pass in front of a Volkswagen logo ahead of the Shanghai Auto Show, in Shanghai, China April 15, 2019. REUTERS/Aly Song/File Photo BERLIN (Reuters) – German carmaker Volkswagen will join forces with China’s NIU to produce battery-powered kick scooters, German newspaper Die Welt reported on Monday without giving sources. The companies will… Continue reading Volkswagen teams up with China’s NIU to make e-scooters: Die Welt
UPDATE 3-U.S. rejects Tesla bid for tariff exemption for Model 3 ‘brain’
WASHINGTON (Reuters) – U.S. trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25 percent tariffs on the Chinese-made computer “brain” of its Model 3 electric vehicles, one of more than 1,000 product denials linked to China’s industrial development plans. FILE PHOTO: A 2018 Tesla Model 3 electric vehicle is shown in… Continue reading UPDATE 3-U.S. rejects Tesla bid for tariff exemption for Model 3 ‘brain’
U.S. rejects Tesla bid for tariff exemption for Model 3 ‘brain’
WASHINGTON (Reuters) – U.S. trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25 percent tariffs on the Chinese-made computer “brain” of its Model 3 electric vehicles, one of more than 1,000 product denials linked to China’s industrial development plans. FILE PHOTO: A 2018 Tesla Model 3 electric vehicle is shown in… Continue reading U.S. rejects Tesla bid for tariff exemption for Model 3 ‘brain’
SoftBank mulls IPO of $100 billion Vision Fund: source
(Reuters) – Japan’s SoftBank Group Corp is considering an initial public offering of its $100 billion Vision Fund, a source familiar with the matter said on Friday. FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo The fund was set… Continue reading SoftBank mulls IPO of $100 billion Vision Fund: source