Category: Business

Sporting goods maker Adidas (ADSGn.DE) has launched the sale of its Reebok brand in an auction which risks being affected by a political row over possible forced labour in China’s western Xinjiang region, three sources told Reuters. Adidas bought the U.S. fitness label for $3.8 billion in 2006 to help compete with arch-rival Nike (NKE.N), […]

Higher prices and robust consumer demand will help Stellantis, deliver a strong performance this year, despite a worsening global shortage of semiconductor chips this quarter, the world’s fourth-biggest carmaker said on Wednesday. Chief Financial Officer Richard Palmer said the group also expected to meet European CO2 emissions targets this year without environmental credits bought from […]

The EU last month raised its target for cuts in net greenhouse gas emissions to 55% by 2030 from 1990 levels instead of 40% and Europe’s automakers will find out in July what their contribution on CO2 emissions is expected to be. Three sources told Reuters that Volkswagen, which owns car brands including Porsche, Audi, […]

Archegos Capital Management, the family office run by former Tiger Asia manager Bill Hwang, is preparing for insolvency as banks involved in financing its trades seek to recoup some of their losses, the Financial Times reported on Wednesday. Archegos has hired restructuring advisers to assess the potential legal claims from banks and to plan for […]

Chicago Federal Reserve Bank President Charles Evans on Wednesday said that while he expects “very strong” job gains over the next several months, achieving 2% inflation is harder than many think, and doing so requires patience. “Patience is really an important tool for quite some time,” Evans told reporters after delivering a talk at the […]

BlackRock (BLK.N) voted against more company directors and backed more shareholder resolutions in the first quarter than a year earlier, as the world’s biggest asset manager looks to push boards to do more on climate and other sustainability issues. The information from the $9 trillion New York-based money manager in a report to be released […]

U.S. lawmakers are pushing for tens of billions of dollars in funding to shift to electric vehicles and away from gas-powered vehicles and build hundreds of thousands of charging stations. Representatives Andy Levin and Alexandria Ocasio-Cortez on Wednesday are unveiling a revised version of their bill dubbed the “Electric Vehicle Freedom Act” to create a […]