LONDON (Reuters) - Britain's Rolls-Royce (LON:RR) downgraded expectations for how much its engines would fly this year and warned of a big cash outflow, blaming extra travel restrictions aimed at stopping the spread of new COVID-19 variants. Rolls-Royce said that it now expected a cash outflow in the region of 2 billion...
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(Bloomberg) -- The world’s biggest internet initial public offering since Uber Technologies (NYSE:UBER) Inc. is set to make this the best start to a year for stock listings in Asia since 2010. Kuaishou Technology’s Hong Kong IPO of as much as $5.4 billion will push the amount raised through first-time share sales in the region in 2021 to $9.93 billion, the most for...
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ZURICH (Reuters) - UBS on Tuesday posted a 137% rise in fourth-quarter net profit, as high levels of client activity helped the world's largest wealth manager end 2020 on a high note. Fourth-quarter net profit of $1.708 billion far outstripped median expectations for $966 million in a poll of 20 analysts compiled by the bank. "Our strong 2020 results clearly demonstrate the...
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SEOUL (Reuters) - Hyundai Motor Co posted on Tuesday a 57% jump in quarterly profit on strong demand for high-margin SUVs and its premium Genesis cars, but results came in slightly below expectations due to the impact of a strong South Korean won. Hyundai, which together with affiliate Kia Corp is among the world's top 10 automakers, reported a net profit...
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Investing.com -- AMC Entertainment Holdings Inc (NYSE:AMC) shares jumped 30% on Monday after the company said it raised $917 million in cash since December, enough to stave of a bankruptcy for now. The largest movie theater operator has been reeling from pandemic-related closures and restrictions. Shares are down 32% in the last year. On Monday, Goldman Sachs (NYSE:GS) analysts said U.S. box office...
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MADRID (Reuters) - A Spanish court has ordered German carmaker Volkswagen (DE:VOWG_p) to pay 16.3 million euros ($19.8 million) in compensation to people in Spain who bought cars with emissions-cheating devices installed, consumer group OCU said on Monday. The company will appeal the ruling, a spokesman said. After a five-year legal battle, a Madrid court found Volkswagen had engaged in anti-competitive...
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By Alwyn Scott NEW YORK (Reuters) - Asian stocks came under pressure on Tuesday as worries about U.S. stimulus and surging coronavirus infections led to a mixed Wall Street session, while the dollar consolidated overnight gains. The choppy trade reflected concerns about new strains of the deadly virus, along with uncertainty about the $1.9 trillion U.S. fiscal stimulus plan that has hit...
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DUBLIN (Reuters) - Ireland is set to extend a shutdown of the economy until March 5 and will ease restrictions very gradually similar to its exit from an initial lockdown last year if it can suppress COVID-19 again, Deputy Prime Minister Leo Varadkar said on Monday. COVID-19 cases have begun to fall sharply in Ireland after exploding at the fastest rate in...
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Investing.com – Canada equities were higher at the close on Monday, as gains in the IT, Telecoms and Industrials sectors propelled shares higher. At the close in Toronto, the S&P/TSX Composite gained 0.05%. The biggest gainers of the session on the S&P/TSX Composite were BlackBerry Ltd (TSX:BB), which rose 30.91% or 5.52 points to trade at 23.38 at the close. TFI...
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By Norihiko Shirouzu BEIJING (Reuters) - Nissan Motor is accelerating the rollout of electric vehicles in China under its main brand and its local, no-frills Venucia marque as it overhauls its strategy in the world's biggest auto market, four sources told Reuters. Besides the focus on green vehicles, the plan involves using more...
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