News
Argentina’s YPF Electric Energy reveals revenue jump in US IPO filing
3+ hour, 34+ min ago (350+ words) July 13 (Reuters) – Argentinian power company YPF Electric Energy disclosed a 45.8% jump in quarterly revenue in its filing for a U.S. initial public offering on Monday, joining a wave of firms from the sector seeking a New York listing amid improving market…...
California offering $3,500 EV rebates to first-time buyers
10+ hour, 55+ min ago (146+ words) WASHINGTON, July 13 (Reuters) - California Governor Gavin Newsom signed legislation Monday to create state rebates of $3,500 on new electric vehicles for first-time buyers later this summer as U.S. sales have slowed. The $270 million rebate prog... WASHINGTON, July 13 (Reuters) â California…...
Shein scheduled for Hong Kong IPO hearing on Thursday, sources say
16+ hour, 37+ min ago (133+ words) By Helen Reid and Kane Wu LONDON/HONG KONG, July 13 (Reuters) – Fast-fashion retailer Shein is scheduled for a Hong Kong initial public offering hearing with the city’s stock exchange on Thursday, two sourceS with knowledge of the matter said, a…...
Volkswagen CEO threatens 50,000 more job cuts in memo to staff
16+ hour, 33+ min ago (126+ words) BERLIN, July 13 (Reuters) – Volkswagen could cut around 50,000 additional jobs based on calculations aimed at bringing the carmaker into line with the cost competitiveness of other companies, CEO Oliver Blume told staff in an internal memo seen by Reuters on Monday....
German automakers hit by sharp China sales drop in second quarter
3+ day, 10+ hour ago (374+ words) BERLIN, July 10 (Reuters) – German carmakers’ sales collapsed further in China during the second quarter, as a protracted slowdown in the world’s biggest auto market cranked up the pressure on legacy brands in a bruising battle with local competitors. Volkswagen, Mercedes-Benz…...
Skoda Auto says it is not directly impacted by VW overhaul plans
3+ day, 12+ hour ago (176+ words) PRAGUE, July 10 (Reuters) – Skoda Auto, the Czech unit of Volkswagen, does not expect any direct impact from the parent company’s overhaul plan to cut capacity and model lines, the company said on Friday. • Volkswagen said on Thursday that it planned…...
Audi half-year deliveries fall on China competition, US tariffs
3+ day, 16+ hour ago (143+ words) July 10 (Reuters) - Audi, German carmaker Volkswagen's premium brand, reported on Friday a 7% year-on-year fall in global deliveries during the first half of the year, as competition in China and U.S. tariffs hampered demand. Deliveries fell by... July 10 (Reuters) â…...
BMW deliveries slide in Q2, as sales in China drop nearly a third
3+ day, 16+ hour ago (121+ words) July 10 (Reuters) – BMW reported a 4.9% decline in global vehicle deliveries in the second quarter on Friday, hit by a sharp drop in sales in China. • The group sold 590,962 vehicles in the quarter • In China, deliveries plunged 30.2% year-on-year in the second quarter…...
Volkswagen Q2 deliveries fall 8.6% as demand in China slumps
3+ day, 16+ hour ago (84+ words) WSAU Volkswagen Q2 deliveries fall 8.6% as demand in China slumps July 10 (Reuters) – Volkswagen reported a 8.6% decline in global deliveries in the second quarter on Friday, dragged by a drop in demand in the Chinese market. While deliveries fell by 36.6% in China…...
Global EV demand rises again as Europe offsets China, U.S. weakness
4+ day, 2+ hour ago (137+ words) By Mathias de Rozario July 10 (Reuters) – Global demand for electric vehicles rose for a fourth straight month in June, driven by strong growth in Europe as sales weakened in China and North America, data from consultancy Benchmark Mineral Intelligence showed…...