Category: Business

An online consultation for local citizens to express objections to Tesla’s (TSLA.O) huge factory near Berlin will be repeated, the regional environmental ministry said on Thursday, over concerns the process did not comply with regulations. Tesla CEO Elon Musk said at a visit to the factory site in Gruenheide on Oct. 9 that he hoped […]

Velodyne Lidar’s (VLDR.O) founder and biggest shareholder on Thursday warned that he plans to nominate two directors to the board next year amid frustration with the sensor supplier’s falling stock price, high executive pay, and the board’s failure to focus more on new research. David Hall wrote to investors, that the board made “strategic missteps” […]

Unilever (ULVR.L) warned inflation was likely to accelerate next year and its prices would have to rise further as consumer goods companies battle to offset surging energy and other costs. The maker of Dove soap and Knorr soup beat third-quarter sales growth forecasts on Thursday and kept its full-year profit margin guidance, defying some analysts’ […]

ABB (ABBN.S) expects the supply chain crunch to continue into next year, the Swiss engineering group said on Thursday, as a shortage of semiconductors made it cut its 2021 sales outlook, sending its shares down 6%. The maker of industrial robots and drives is the latest company to warn about shortages reducing its ability to […]

Elevator and escalator manufacturer Schindler expects 2022 to be challenging, particularly in the first half, citing a slowdown in China and rising costs. The Swiss company said on Thursday it had not been materially impacted by Evergrande’s(6666.HK) debt issues, but it expected 2022, especially the first half of it, to be challenging for business in […]

AutoNation Inc (AN.N) on Thursday reported a better-than-expected quarterly profit and unveiled an additional $1-billion share buyback program, as the largest U.S. auto retailer benefited from surging car prices on tight inventories. Consumer preference for personal transportation since the pandemic outbreak and a global chip shortage that has led to auto production cuts across the […]

Italian luxury group Ermenegildo Zegna reported on Thursday a 50% rise in first-half revenues, as sales climbed particularly in China. The adjusted operating profit stood at 67 million euros ($78 million), compared to a loss of 52 million euros in the first half of 2020. Zegna is expected to list in New York by the […]