LONDON, Feb 21 Reuters Luxury carmaker Jaguar Land Rover said on Tuesday it is opening three new engineering hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley artificial intelligence company Nvidia. The hubs in Munich, Bologna and Madrid will develop selfdriving systems for JLR39;s next generation of luxury […]

NEW YORK, Feb 21 Reuters Rio Tinto on Tuesday said it would supply BMW with aluminum it produces in Canada using hydroelectric power, lowering the auto manufacturer39;s carbon footprint with respect to its procurement of the automotive metal. The UKbased mining company and the German automaker announced in separate statements that they had signed a […]

BRUSSELS, Feb 21 Reuters Microsoft President Brad Smith will on Tuesday seek to convince EU antitrust regulators at a closed hearing that the U.S. software giant39;s 69 billion bid for Call of Duty maker Activision Blizzard will boost competition. Smith will lead a delegation of 18 senior executives, including Microsoft Gaming Chief Executive Officer Phil Spencer, while […]

Feb 21 Reuters French payment services company Worldline will keep looking for technology acquisition opportunities in Europe, it said on Tuesday after it beat fourthquarter sales expectations. Payments processors have seen instore volumes recover since the easing of COVID19 restrictions, but the inflationdriven squeeze on discretionary and ecommerce spending poses a risk to their revenues. The […]

LONDON, Feb 21 Reuters HSBC cut its annual bonus pool by 4 to 3.4 billion in 2022, the bank said on Tuesday, as a global slump in dealmaking led it to trim awards for its bankers. Despite the overall bonus cuts for staff, Chief Executive Noel Quinn saw his pay package jump 14 to 5.6 […]

H1 profit misses forecasts Interim dividend beats estimate Positive on demand outlook from China Starts process to sell two Queensland met coal mines Feb 21 Reuters Global miner BHP Group reported a steeperthanexpected 32 fall in firsthalf profit owing to a drop in iron ore prices, sending its shares down, although it flagged a brightening outlook […]

LONDON, Feb 21 Reuters HSBC HSBA.L said it still expects to complete the sale of its Russia business in firsthalf 2023, in the most significant update on the progress of the deal since it said in July 2022 it had agreed to sell the unit to local lender Expobank. Europe39;s biggest bank has taken a […]

HANOI, Feb 21 Reuters Taiwan39;s Pou Chen Corp, the world39;s largest maker of branded sports footwear, plans to cut around 6,000 jobs at its Ho Chi Minh City plant in Vietnam due to weak demand, two local officials familiar with the company39;s plans said on Tuesday. The firm39;s Pouyuen Vietnam factory will cut 3,000 jobs […]

BENGALURU, Feb 20 Reuters The Indian government has opposed Hindustan Zinc Ltd39;s 2.98 billion acquisition of assets from the flagship firm of Vedanta Resources, dealing a blow to billionaire Anil Agarwal39;s plans to trim down the mining giant39;s 7.7 billion net debt. The government, which owns a nearly 30 stake in Hindustan Zinc, is against the […]

COPENHAGEN, Feb 20 Reuters Shipping and logistics group A.P. MollerMaersk has agreed to sell its two logistics sites in Russia to IG Finance Development Limited, it said on Monday, nearly marking the end of its business activities in the country. The group said the sale of its inland depot facility in Novorossiisk, with a capacity of […]