Stellantis’ Elkann concerned over car prices after U.S. tariffs
MILAN – John Elkann, the chairman of Stellantis, voiced concerns on Thursday over the impact of 25% U.S. tariffs imposed on the carmaking sector on the cost of vehicles and demand. Speaking to analysts on a conference call, Elkann underlined…
Exclusive-Trump tariff threats prompt some drugmakers to expedite shipments to US
NEW YORK/LONDON/LOS ANGELES -Some drugmakers are taking the unusual step of sending more medicines by air to the U.S., two executives and two logistics firms said amid fears President Donald Trump’s April 2 tariffs announcement could include products made in…
Russia remands billionaire Moshkovich in custody for two months
MOSCOW – Russian farming billionaire Vadim Moshkovich was remanded in custody for two months by a Moscow court on Thursday after his detention on suspicion of large-scale fraud, the highest-profile arrest in years of a major businessman in Russia. Moshkovich,…
Ryanair CEO says Boeing executive downplayed aircraft tariff threat
BRUSSELS -Ryanair’s boss is confident that commercial jets will not be sucked into trade tensions between the United States and other trade powers, including Europe, after a meeting with a top Boeing executive. Michael O’Leary, CEO of the European budget…
EU Commission looks to cut overlap in tech directives -Virkkunen
AMSTERDAM – The European Commission is looking at ways to cut overlap in tech rules in response to complaints from business about the flood of new EU regulations in recent years, digital chief Henna Virkkunen said on Thursday. Outside a…
US natgas prices climb 2% on decline in daily output, record LNG flows
U.S. natural gas futures climbed about 2% on Thursday on a decline in daily output, record flows to liquefied natural gas (LNG) export plants and forecasts for more demand this week than previously expected. On its last day as the…
Factbox-Energy assets affected by Russia-West standoff and sanctions
The United States reached separate deals on Tuesday with Ukraine and Russia to halt attacks at sea and against energy targets, with Washington agreeing to push to lift some sanctions against Moscow. The potential easing of U.S. and EU sanctions…
Ferrari says U.S auto tariffs will not impact 2025 financial targets
ROME – Italian luxury sports carmaker Ferrari said on Thursday its financial targets for this year will remain unchanged despite the new auto tariffs imposed by the United States. The U.S. on Wednesday announced a 25% tariff on auto imports…
Exclusive-Energy trader Vitol eyes $3 billion sale of US shale producer, sources say
NEW YORK – Global commodities trader Vitol is exploring a sale of its VTX Energy Partners business, in a deal that could value the U.S. shale oil and gas producer at as much as $3 billion, including debt, people familiar…
Exclusive-IAG will consider selling 20% stake in Air Europa, CEO says
BRUSSELS -British Airways-owner IAG will consider selling its 20% stake in Air Europa as the Spanish airline’s owner continues talks with Air France-KLM and Lufthansa to sell a stake in the company, IAG’s CEO told Reuters. The move comes as…
Wolfspeed names chip industry veteran Robert Feurle as CEO
Chipmaker Wolfspeed said on Thursday it appointed industry veteran Robert Feurle as its CEO, months after its board ousted former top boss Gregg Lowe. Feurle, who has previously spent a decade in executive roles at Micron Technology, will succeed Thomas…
Walmart Mexico to invest $6 billion in 2025
MEXICO CITY -Walmart’s Mexico unit said on Thursday it would invest more than $6 billion in the country this year, around triple its planned spending from the year before. The funds will go toward opening new stores and to continue…
S&P 500 ends lower as investors digest Trump’s auto tariffs
The S&P 500 ended lower on Thursday, as investors grappled with U.S. President Donald Trump’s latest trade tariff announcement that hit shares of General Motors and Ford. Trump unveiled on Wednesday his plan to implement a 25% tariff on imported…
Factbox-What’s in Trump’s new 25% tariffs on US auto imports?
President Donald Trump on Wednesday followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would kick in next week. Trump will impose a 25% tariff…
Exclusive-Italy pursues payment from Meta, X and LinkedIn in landmark tax case
MILAN – Italy has handed tax demands to Meta, X and LinkedIn in an unprecedented VAT claim against the U.S. tech giants that could have repercussions across the European Union, four sources with direct knowledge of the matter said on…
JSR’s incoming CEO signals focus on finances, retreat from sector M&A ambitions
TOKYO – The incoming CEO of Japanese chip materials maker JSR plans to focus on restoring the company’s business performance, shifting away from previous ambitions to drive consolidation in the sector. JSR’s financial performance is not good, and the company…
Investors react as Trump auto tariffs rattle markets
Automaker stocks around the world slumped on Thursday after the latest round of U.S. tariffs were targeted at the sector. U.S. President Donald Trump said late on Wednesday the United States will effectively charge a 25% tariff on all cars…
Musk says impact of auto tariffs on Tesla is ‘significant’
Tesla CEO Elon Musk said on Wednesday that the impact of U.S. President Donald Trump’s auto tariffs on Tesla is “significant.” “Important to note that Tesla is NOT unscathed here. The tariff impact on Tesla is still significant,” Musk said…
SK Hynix says some customers brought forward orders ahead of US tariffs
ICHEON, South Korea -South Korea’s SK Hynix, the world’s second-largest memory chip maker, said on Thursday that some customers have brought forward orders in preparation for new U.S. tariffs. Speaking at the company’s annual shareholder meeting, SK Hynix’s Head of…
Ninestar says sale of Lexmark worth up to $150 million in equity value
BEIJING – China-based Ninestar Corp plans to sell printer and printing software maker Lexmark International II to Xerox in a deal with an equity value of up to $150 million. Ninestar said in an exchange filing on Wednesday that it…