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Top StoriesLufthansa Sees Return to Full-Year Profit as Travel Picks Up
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Top StoriesAustria’s RBI Sees Big Profit Gains in Russia and Belarus
Renault Upgrades Outlook as Turnaround Plan Starts to Pay Off
Date: July 29, 2022
By Christian Lowe and Gilles Guillaume PARIS (Reuters) -Carmaker Renault upgraded its full-year outlook on Friday, saying its turnaround plan to improve profitability was delivering results ahead of schedule. Renault shares were up nearly 6% at 0745 GMT after the company said operating margins in the first half of this year were at 4.7%, against...
Tesla Braces for Earnings Hit, but Ev Delivery Outlook Is Key
Date: July 20, 2022
(This July 19 story corrects timeframe in fifth paragraph from “a year ago” to “a quarter ago”) By Hyunjoo Jin and Nivedita Balu (Reuters) – Tesla Inc’s second-quarter results on Wednesday are expected to show the strains of China’s COVID-19 lockdown and protracted startups of new factories. Investors want to know if the end of...
Exit From Taiwan Lifts Shares of French Company Carrefour
Date: July 20, 2022
PARIS (Reuters) – Shares in French food retailer Carrefour rose 3% on Wednesday after it agreed to sell its remaining 60% stake in its Taiwan business, sparking hopes among some investors it could use the extra firepower to buy back shares. By 0702 GMT, Carrefour shares were up 3.01% at 17.48 euros. The transaction, which...
Stellantis, China’s Gac to Terminate Loss-Making Joint Venture
Date: July 18, 2022
PARIS (Reuters) -Stellantis and Guangzhou Automobile Group will end their loss-making joint venture producing Jeep vehicles in China, the carmakers said on Monday, only four months after the European carmaker said it would raise its stake in the business. The U-turn comes after GAC reprimanded the world’s No.4 carmaker in January for announcing plans to...
Swatch Group Upbeat as China Comes Out of Lockdown
Date: July 14, 2022
By Silke Koltrowitz ZURICH (Reuters) -Swatch Group stuck to its forecast for double-digit sales growth this year after pandemic lockdowns in China had less impact than feared on the world’s biggest watchmaker’s first-half results on Thursday. The maker of Omega watches, which generated more than 40% of its sales in Greater China in 2021, said...
Finnish Elevator Maker Kone Cuts 2022 Outlook After Weak China Sales
Date: July 14, 2022
HELSINKI (Reuters) -Elevator maker Kone on Thursday lowered its sales and profit outlook for this year due to lower-than-expected second quarter sales and weakened new equipment market outlook in China. Lockdowns to curb the spread of coronavirus in China, which accounts for 35% of Kone’s sales, had resulted in net sales declining by close to...