Volvo to acquire Northvolt39;s shares in battery JV Northvolt says it will stop funding the venture Northvolt is currently seeking funding for itself STOCKHOLM, Oct 30 Reuters Volvo Cars is seeking to take over Northvolt39;s stake in their Swedish batterymaking joint venture NOVO but will need a new partner to keep plans for a gigafactory on […]

Narrows 2024 organic sales, profit and margin forecasts Posts biggerthanexpected drop in Q3 net sales Expects slower recovery in Lunchables due to negative publicity Shares down more than 3 in early trade Oct 30 Reuters Kraft Heinz on Wednesday tempered its annual forecasts for organic sales and profit as repeated price hikes hurt demand for the […]

Shippers fear another strike amid union39;s hard line against automation October39;s 3day strike ended in tentative deal, avoiding key issue of automation Union says to return to negotiations in Nov ahead of Jan 15 deadline Some shippers say 6070 risk of strike, some plan diverting goods to West Coast ports Poststrike congestion remains at key […]

MADRID, Oct 30 Reuters Spanish airport operator Aena said on Wednesday its net profit in the first nine months of the year rose 27 from the same period last year as the postpandemic travel boom pushed passenger traffic to new records. Aena booked a net profit of 1.44 billion euros 1.56 billion out of revenues rising […]

DETROIT, Oct 30 Reuters Ford Motor stock has tumbled about 8 so far this week after the company faltered on CEO Jim Farley39;s mission to improve efficiency in its traditional gasolineengine operations, whose profits the company needs to fund its expensive electric vehicle plans. Quality and warranty problems, supplier issues and waste in the automaker39;s 121year […]

MADRID, Oct 30 Reuters Spanish construction giant Ferrovial on Tuesday said its core thirdquarter profit rose 36 to 400 million euros 433 million as investments in toll road concessions in North America continued to pay off. Ferrovial39;s core profit for the quarter was slightly above the average analysts39; expectation of 389 million euros, according to data […]

TOKYO, Oct 30 Reuters Japan39;s major life insurers are expected to continue purchasing Japanese government bonds JGBs into the second half of the fiscal year, but the pace and extent of these purchases will vary as firms strive to balance risk and return. Life insurance companies, some of the country39;s largest institutional investors, have long […]

SHANGHAI, Oct 29 Reuters ByteDance founder Zhang Yiming is China39;s richest person, with personal wealth of 49.3 billion, an annual rich list showed on Tuesday, although counterparts in real estate and renewables have fared less well. Zhang, 41, who stepped down as chief executive of ByteDance in 2021, becomes the 18th individual to be crowned […]

MILAN, Oct 29 Reuters Europe39;s car safety agency has issued a not recommended rating to the driver assistance system used in BYD39;s Atto 3 EV, dealing a blow to the Chinese automaker as it strives to expand on the continent. The model scored zero on driver monitoring features and performed poorly in preventing undertaking at […]

Oct 29 Reuters Food distributor Sysco Corp beat firstquarter revenue estimates on Tuesday, helped by steady demand for its specialty seafood and freshcut meat products, but missed profit expectations. WHY IS IT IMPORTANT? Sysco39;s quarterly sales numbers offer a bright spot at a time when the broader U.S. restaurant industry is struggling with weaker traffic due […]