Business

Tata Motors shares hit by Jaguar Land Rover woes, weak home market

Editorial Bureau May 21, 2019

MUMBAI/BENGALURU (Reuters) – Tata Motors Ltd gave an uninspiring outlook for its luxury brand Jaguar Land Rover and forecast weak demand in the Indian automaker’s home market, sending its shares 6% lower on Tuesday. Mumbai-based Tata Motors, which reported quarterly earnings results

Business

Ryanair posts weakest annual profit in four years

Editorial Bureau May 20, 2019

DUBLIN (Reuters) – Ryanair posted its weakest annual profit in four years on Monday and said earnings could fall further next year as Europe’s largest low-cost carrier grapples with overcapacity, Brexit and delays in delivery of the Boeing 737 Max. The airline posted a profit after tax for its financial year to March 31 – […]

Business

London office building at post Brexit referendum high – Deloitte

Editorial Bureau May 20, 2019

(Reuters) – New office building in central London is at a three-year high, with 13.2 million square feet of space under construction, up 12% on the figure six months ago, Deloitte Real Estate’s London Office Crane Survey said on Monday. “London’s office market remains resilient in the face of uncertainty as we witness an encouraging […]

Business

Carrefour considers sale of stake in China business-sources

Editorial Bureau May 17, 2019

PARIS/FRANKFURT/BEIJING (Reuters) – Carrefour, Europe largest retailer, is exploring the sale of a minority stake in its loss-making business in China and has started sounding out potential buyers, people familiar with the matter said. Carrefour’s China business is valued at around $1 billion (783.8 million pounds) and the retailer is working with BNP Paribas

Business

Amazon squares up to Uber with backing for UK food app Deliveroo

Editorial Bureau May 17, 2019

LONDON (Reuters) – Amazon has taken a stake in British online food delivery company Deliveroo, leading a $575 million (450 million pounds) fundraising to pit itself against Uber Eats in the global race to dominate the market for takeaway meals. The news the world’s biggest online retailer has bought into one of Europe’s fastest growing […]

Business

Huawei is a risk so Britain must change course on 5G, ex-MI6 spymaster says

Editorial Bureau May 17, 2019

LONDON (Reuters) – China’s Huawei poses such a grave security risk to the United Kingdom that the government must not allow it to have even a limited role in building 5G networks, a former head of Britain’s MI6 foreign spy service said on Thursday. In what some have compared to the Cold War arms race, […]

Business

UK energy network firms rattled by Labour state ownership plan

Editorial Bureau May 16, 2019

LONDON (Reuters) – Britain’s opposition Labour Party intends to take energy networks back into state ownership if elected, prompting infrastructure owners to warn of damage to investment, high taxpayer costs and a slower transition to green energy. Labour’s shadow business and energy secretary, Rebecca Long-Bailey, late on Tuesday published party plans

Business

Volvo taps Asia’s LG Chem, CATL for long-term battery supplies

Editorial Bureau May 15, 2019

SEOUL/BEIJING (Reuters) – Swedish carmaker Volvo said on Wednesday it had signed long-term battery supply deals with Asian firms LG Chem and Contemporary Amperex Technology Co Ltd (CATL), as it pushes its EV target of 50 percent of sales by 2025. The agreements follow a series of pacts between Asia-based battery companies and global carmakers, […]

Business

No easy options for China as trade war, U.S. pressure bite

Editorial Bureau May 15, 2019

BEIJING (Reuters) – China is running out of options to hit back at the United States without hurting its own interests, as Washington intensifies pressure on Beijing to correct trade imbalances in a challenge to China’s state-led economic model. China said this week it would impose higher tariffs on most U.S. imports on a revised […]

Business

UK jobless rate falls again as employers hire ahead of Brexit

Editorial Bureau May 15, 2019

LONDON (Reuters) – Britain’s unemployment rate fell to its lowest since the mid-1970s in early 2019 as employers hired in the run-up to the original date for Britain’s EU departure, but there were signs that Brexit was beginning to weigh on the jobs boom. The rate edged down to 3.8% in the first quarter, its […]