CEEU

Airbus and Qatar Airways settle bitter A350 jet row

PARIS, Feb 1 (Reuters) – Airbus (AIR.PA) and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday, warning a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable and mutually agreeable settlement” ends a $2 billion row …

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Exclusive: EV maker Rivian to cut 6% of jobs amid price war -internal memo

SAN FRANCISCO, Feb 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry -wide price war. The company is focusing resources on ramping up vehicle production and reaching …

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German economy unexpectedly shrinks in Q4, reviving specter of recession

Q4 GDP at -0.2% Q/Q vs forecast of 0.0% Decline mainly due to falling private consumption Economists reckon mild recession is likely BERLIN, Jan 30 (Reuters) – The German economy unexpectedly shrank in the fourth quarter, data showed on Monday, a sign that Europe’s largest economy may be entering a much-predicted recession, though likely a …

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Toyota defends title as world’s top-selling automaker in 2022

TOKYO, Jan 30 (Reuters) – Toyota Motor Corp (7203.T) sold 10.5 million vehicles in 2022, it said on Monday, defending its title as the world’s top-selling automaker for a third straight year. Global sales for the group, including truck unit Hino Motors (7205.T) and small-car maker Daihatsu, inched down 0.1% as record overseas sales of …

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China’s MMG flags production halt at Las Bambas in Peru due to protests

Jan 30 (Reuters) – Chinese copper miner MMG Ltd (1208.HK) said on Monday its Las Bambas mine in Peru would likely have to halt production from Feb. 1 due to a shortage of “critical supplies” leading to a slowdown of operations. The Melbourne-headquartered miner said the shortage of supplies was due to transport disruptions from …

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Boeing’s 747, the original jumbo jet, prepared for final send-off

Final 747 freighter to be delivered to Atlas Air Ends more than five decades of commercial output Nearly bankrupt Boeing, before becoming a cash cow Easy to fly, says rock star-pilot Bruce Dickinson SEATTLE/PARIS, Jan 29 (Reuters) – Boeing’s (BA.N) 747, the original and arguably most aesthetic “Jumbo Jet”, revolutionized air travel only to see …

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Rheinmetall eyes boost in ammunition production, HIMARS production in Germany

DUESSELDORF, Jan 28 (Reuters) – German arms-maker Rheinmetall is ready to greatly boost the output of tank and artillery munitions to satisfy strong demand in Ukraine and the West, and may start producing HIMARS multiple rocket launchers in Germany, CEO Armin Papperger told Reuters. He spoke days before Germany’s defense industry bosses are due to …

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Bill Ackman says Hindenburg’s Adani report ‘highly credible’

Jan 27 (Reuters) – Billionaire US investor Bill Ackman said on Thursday that he found short-seller Hindenburg Research’s report on India’s Adani Group “highly credible and extremely well researched.” Shares in seven listed group companies of Adani lost $10.73 billion in market capitalization in India on Wednesday after the US short-seller released the report, which …

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India’s Adani Group says evaluating action against Hindenburg Research

BENGALURU, Jan 26 (Reuters) – Adani Group said on Thursday it is evaluating “remedial and punitive action” under US and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens. Shares in seven listed group companies of Adani lost $10.73 billion in market capitalization in …

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Exclusive: Binance moved $346 mln for seized crypto exchange Bitzlato, data show

LONDON, Jan 24 (Reuters) – Crypto giant Binance processed almost $346 million in bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by US authorities last week for allegedly running a “money laundering engine,” blockchain data seen by Reuters show. The Justice Department on Jan. 18 said it charged Bitzlato’s co-founder and majority …

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