U.S. helps fund California port project as export delays hurt food makers
The U.S. Department of Agriculture said on Sunday it will help fund a new container yard for agricultural exports at California’s Port of Oakland, as the government, ports and food companies scramble to ease costly shipping delays.
Ryanair posts quarterly loss but says fares could rise this summer
Ryanair (RYA.I) reported a loss of 96 million euros ($107 million) for the final three months of 2021 but said it was hopeful that rivals’ cuts to capacity may help push prices up in the key summer season.
Italy’s UniCredit beats profit forecasts and drops Russian deal
Italian bank UniCredit (CRDI.MI) posted better than expected 2021 results on Friday as the push by new Chief Executive Andrea Orcel to lift revenue began to bear fruit while costs remained in check despite rising pay and one-off charges.
India’s Ather targets 1 million electric scooters a year as demand soars
Ather Energy, India’s top electric scooter maker by revenue, is raising funds to ramp up annual production to one million scooters over the next three years amid a surge in demand, the startup’s co-founder and chief executive told Reuters.
AirAsia changes name to Capital A as it grows beyond an airline
Malaysia’s AirAsia Group Bhd (AIRA.KL) said on Friday it had changed its name to Capital A Bhd to reflect its growing portfolio of businesses beyond the core budget airline.
Singapore hosts third SPAC listing; Novo Tellus-backed firm makes debut
Southeast Asian industrial technology buyout fund Novo Tellus Capital Partners listed its special purpose acquisition company (SPAC) in Singapore on Thursday, marking the third such IPO this month as the city-state seeks to become a hub for SPAC listings.
Dealmaking helps Deutsche Bank deliver biggest profit in a decade
Deutsche Bank (DBKGn.DE) delivered its most profitable year in a decade on the back of a dealmaking bonanza, strengthening Chief Executive Christian Sewing’s hand as he fine tunes a new strategy and targets for the years ahead in March.
Ford aims to be the Tesla of connected commercial vehicles
Ford Motor Co (F.N) Chief Executive Jim Farley won applause from Wall Street by increasing the production target for the automaker’s electric F-150 to 150,000 a year, more than three times the original number.
Cadence Design Systems aims to cash in on new custom-chip era
Microchip design software maker Cadence Design Systems Inc (CDNS.O) is betting on growth from automakers and other chip users strapped by global supply shortages who face mounting competition from rivals such as Tesla Inc (TSLA.O) and Apple Inc (AAPL.O) that design their own chips.
Hong Kong warns COVID-19 curbs on air cargo to hit goods supply
Hong Kong will soon feel the negative effects of tougher COVID-19 quarantine curbs on air crew, with cargo traffic and the supply of goods into the city set to drop, Chief Executive Carrie Lam said on Wednesday.
