TomTom sticks with revenue and cashflow guidance, giving shares a boost
Dutch digital mapping group TomTom (TOM2.AS) on Friday confirmed its revenue and cashflow guidance for 2022 and 2023, boosting its shares, after reporting a bigger-than-expected second-quarter loss, citing high inflation and strained supply chains.
Zurich Insurance to exit Russia by selling business to local team
Zurich Insurance (ZURN.S) has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss insurer became the latest Western firm to exit Russia.
Siemens to leave Russia due to Ukraine war, take hefty charge
Siemens (SIEGn.DE) will quit the Russian market due to the war in Ukraine, it said on Thursday, taking a 600 million euro ($630 million) hit to its business during the second quarter, with more costs to come.
European stocks down, yen hits 20-year low as US hikes loom
European shares were lower on Tuesday, while yields on 10-year U.S. inflation-linked bonds were close to turning positive for the first time in two years, as the prospect of aggressive Fed tightening to rein in inflation kept investors on edge.
Morning Bid: A break in the storm clouds
Markets breathed a sigh of relief after the U.S. Secretary of State Antony Blinken agreed to a meeting with Russia’s Foreign Minister Sergei Lavrov, raising hopes of a diplomatic solution to the standoff over Ukraine.
EXCLUSIVE Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week
Renault SA (RENA.PA), Nissan Motor Co and Mitsubishi Motors Corp (7211.T) plan to triple their investment to jointly develop electric vehicles (EVs), two people with knowledge of the plan told Reuters.
Foxconn India iPhone plant to reopen on Wednesday -legislator
Apple Inc (AAPL.O) supplier Foxconn (2317.TW) will reopen an iPhone manufacturing facility in southern India on Wednesday, government officials and a legislator in the region where the plant is located told Reuters.
EXCLUSIVE Geely, Renault to soon announce hybrid-focused auto JV for Asia – sources
Geely Holding and France’s Renault are likely to soon announce a deal to jointly produce the Chinese automaker’s hybrid vehicles in South Korea and look at possibly exporting cars duty-free to the United States, three people familiar with the matter said.
Renault to explore hybrid vehicles with Geely
BEIJING/SHANGHAI, Aug 9 (Reuters) – Renault (RENA.PA) and Geely said on Monday they would jointly develop petrol-electric hybrid vehicles for China and South Korean markets, as the French automaker revives plans for the world’s biggest car market after exiting a Chinese venture last year.
AB Volvo warns chip woes to linger after narrow profit miss
Sweden’s AB Volvo (VOLVb.ST) warned on Tuesday of more production disruptions and stoppages this year after chip shortages prevented the truck maker from fully capitalising on strong demand for its vehicles in the second quarter.
