US requests Tesla driver-assist documents; company raises capex forecast

US requests Tesla driver-assist documents;  company raises capex forecast

WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) announced on Tuesday that it had received requests from the US Department of Justice for documents related to its Full Self-Driving and Autopilot driver assistance systems as regulations tighten. Reuters reported in October that Tesla is under criminal investigation over claims that the company’s electric vehicles could … Read more

France hit by new wave of strikes against Macron’s pension reform

France hit by new wave of strikes against Macron’s pension reform

The reform would raise the retirement age to 64 Schools, transportation networks, refinery supplies are affected Macron: Reform vital to ensure the viability of the pension system SAINT-NAZAIRE, France, Jan. 31 (Reuters) – Striking workers disrupted deliveries to French refineries, public transport and schools on Tuesday during a second day of nationwide protests over President … Read more

The Norwegian wealth fund posts a record loss of $164 billion

The Norwegian wealth fund posts a record loss of 4 billion

The loss in 2022 surpasses the previous record set in 2008 Inflation and geopolitical tensions remain risk factors Record inflow of money from the oil and gas industry OSLO, Jan. 31 (Reuters) – The Norwegian wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion kroner ($164.4 billion) for 2022, … Read more

Adani’s crucial share sale 85% subscribed as institutions pumped funds

Adani’s crucial share sale 85% subscribed as institutions pumped funds

MUMBAI, Jan. 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale moved closer to full subscription on Tuesday as investors pumped in cash after a tumultuous week for his group in which the shares were ravaged by a destructive short-seller -report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was 85% underwritten … Read more

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy as early as this week

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy as early as this week

NEW YORK, Jan. 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is gearing up to seek bankruptcy protection as early as this week and has liquidators lined up to close additional stores unless a last-minute buyer appears, four people familiar with the matter said Monday. The timing of an eventual bankruptcy filing was in … Read more

US court rejects J&J bankruptcy strategy for tens of thousands of talk cases

US court rejects J&J bankruptcy strategy for tens of thousands of talk cases

30 Jan. (Reuters) – A US appeals court has overruled Johnson & Johnson’s (JNJ.N) attempt to bankrupt tens of thousands of lawsuits over its talc products, ruling that the healthcare conglomerate improperly filed a subsidiary in Chapter 11. even though it did not get into financial trouble. The decision of the U.S. 3rd Circuit Court … Read more

Philips is cutting 13% of jobs related to safety and profitability

Philips is cutting 13% of jobs related to safety and profitability

Philips is cutting another 6,000 jobs Increases layoffs since October to 13% of current workforce Equities are up 5.5% as fourth-quarter results beat expectations AMSTERDAM, Jan. 30 (Reuters) – Dutch health technology company Philips (PHG.AS) will cut an additional 6,000 jobs globally as it seeks to restore profitability and improve the safety of its products … Read more

Unilever appoints former Heinz exec Schumacher as CEO

Unilever appoints former Heinz exec Schumacher as CEO

Becomes CEO on July 1 Activist shareholder says he met Schumacher at Heinz First outsider CEO since the appointment of Paul Polman in 2008 Unilever shares surpass FTSE 100 LONDON, January 30 (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as CEO from July, a move welcomed by investors including board … Read more

The German economy contracted unexpectedly in the fourth quarter, rekindling the specter of a recession

The German economy contracted unexpectedly in the fourth quarter, rekindling the specter of a recession

Q4 GDP at -0.2% Q/Q vs forecast of 0.0% Decrease mainly due to declining private consumption Economists expect a mild recession BERLIN, Jan. 30 (Reuters) – The German economy contracted unexpectedly in the fourth quarter, figures released on Monday showed. Gross domestic product fell 0.2% quarter on quarter in adjusted terms, according to the Federal … Read more

Oil runs for OPEC+, US Federal Reserve meetings

Oil runs for OPEC+, US Federal Reserve meetings

SINGAPORE, Jan. 30 (Reuters) – Oil prices fell on Monday, relinquishing previous gains as global producers are likely to leave production unchanged at a meeting this week and investors are cautious ahead of a meeting of the US Federal Reserve That Can Fuel Market Volatility. Brent crude oil futures fell 20 cents, or 0.2%, to … Read more