Category: Business

Stellantis (STLA.MI), owner of Opel, is considering splitting off the German carmaker’s largest plant and a second plant, which is shutting down temporarily next week due to chip shortages, a company spokesperson said on Thursday. The two plants, located in Russelsheim and Eisenach in central Germany, would no longer be part of Opel Automobile GmbH […]

The Flying Buttress once glided across the oceans carrying vital commodities like grain to all corners of the world. Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers and Baby Alive Lulu Achoo dolls. The dry bulk cargo ship has been drafted into the service of retail giant Walmart (WMT.N), which is […]

Levi Strauss & Co (LEVI.N) on Wednesday beat third-quarter revenue and profit estimates, boosted by an uptick in demand for jeans from people refreshing their wardrobes as they returned to normal social life following easing pandemic restrictions. Shares of the jeans maker rose 2% in extended trading after the Dockers brand owner said its board […]

Mexican concrete giant Cemex said on Thursday that supply chain snags and project delays will squeeze its full-year operating profit, even as it plans double-digit U.S. price hikes to offset higher costs. Together with inflation and foreign exchange effects, the snags and delays could hit earnings this year by around $100 million, its chief executive […]

Italy’s communications watchdog on Thursday called on sport streaming app DAZN to put measures in place in order to prevent malfunctions during streaming of live matches of the country’s top soccer league Serie A, stepping up pressure on the online platform. Owned by billionaire Len Blavatnik, DAZN in March secured the rights to screen Serie […]

Oil prices shook off losses to turn positive on Thursday on indications that the United States may not release emergency crude reserves to combat rising gasoline costs, putting focus back on tight global supply. Brent futures rose 69 cents, or 0.9%, to $81.77 a barrel by 11:23 a.m. EDT (1523 GMT), after falling to a […]

Stellantis (STLA.MI), the world’s fourth largest carmaker, said on Thursday it would invest $229 million in three plants in Indiana to expedite the development of electric vehicles. The investment, which will retain 662 jobs, will retool three Kokomo plants in Indiana to produce electrified, eight-speed transmissions, Stellantis said. A global clampdown on emissions has forced […]