PARIS, May 10 Reuters French carmaker Renault said it was targeting a doubledigit margin for its new Mobilize brand, which proposes new solutions around mobility and data, and that 39;Mobilize39; would aim to represent 20 of Renault39;s overall group turnover by 2030. The company is counting on this new business to help turn around its finances. […]

TOKYO, May 9 Reuters Digital payments processor Opn, formerly known as Synqa, said it had raised 120 million in a Series C funding round, becoming a rare unicorn, or startup worth more than 1 billion, in Japan. The startup raised funds from the venture capital arm of the governmentbacked Japan Investment Corporation, Mitsubishi UFJ Financial […]

FRANKFURT, May 10 Reuters Agriculture and pharmaceuticals company Bayer reported quarterly adjusted earnings rose a betterthanexpected 27.5 on strong gains at its seeds and pesticides business. First quarter earnings before interest, taxes, depreciation and amortisation EBITDA, adjusted for oneoff items, came in at 5.25 billion euros 5.55 billion, well above the average analyst estimate of 4.65 […]

LONDON Reuters BlackRock trimmed its exposure to Chinese stocks and government bonds, and Asian fixed income more widely, to neutral from a slight overweight, citing a worsening macroeconomic outlook as well as geopolitics. Chinas ties to Russia also have created a new geopolitical concern that requires more compensation for holding Chinese assets, we think, Jean Boivin, […]

STOCKHOLM, May 8 Reuters IKEA has extended the period it will pay nearly 15,000 staff in Russia by three months, through August, and may continue to pay workers beyond that. The world39;s biggest furniture brand in early March said it would temporarily close stores and pause sourcing in Russia, citing supply chain disruption and challenging […]

H1 earnings fall 12, but top estimates Company maintains 2024 cost plan Shares climb 3 4,000 jobs cut in H1 May 9 Reuters Australia39;s Westpac Banking Corp said on Monday it was on track to meet its expense targets by 2024 even as inflation drives peers to abandon their costcut plans, while the lender39;s halfyear earnings […]

ABUJA, May 8 Reuters Nigerian airlines have suspended plans to ground all local flights due to the soaring cost of jet fuel just hours before the move was due to take effect, the airline operators association said on Sunday. The Airline Operators of Nigeria has been under pressure from the government, consumer protection bodies and […]

LONDON, May 6 Reuters British Prime Minister Boris Johnson said on Friday that he had spoken to the bosses of oil majors Shell and BP and underlined the need for investment in the country amid soaring energy prices. Our message to them, and what is very, very clear, … this is a moment where we need you […]

ZURICH, May 6 Reuters Swiss wealth and asset manager Pictet has named Edmund Buckley head of the Direct Private Equity division as the Genevabased group expands its alternative investment business, it said on Friday. Buckley, who was previously a manager at private equity firm THI Investments, is expected to boost the business of direct investments […]

BERLIN, May 6 Reuters Adidas lowered expectations for 2022 after a firstquarter slump as renewed COVID19related lockdowns in Greater China continue to hit the German sportswear company. Firstquarter currencyadjusted sales shrank by 3 worldwide, to 5.3 billion euros 5.58 billion, while profit from continuing operations fell 38, to 310 million euros, it said on Friday. In […]