After reporting greater second-quarter profits, Volvo Cars warned of a possible drop in retail sales this year. Supply issues, most notably a global scarcity of semiconductors, have crimped manufacturing and retail sales in recent quarters, but Volvo reported a “significant improvement” in supply chain stabilisation. The Swedish automaker said on Wednesday that full-year retail deliveries…

Deliveroo, the British food delivery startup, lowered its full-year sales forecast on Monday, as consumers cut back on spending amid a deteriorating cost-of-living problem. Deliveroo shares were down 3 per cent at 82.4 pence at 0733 GMT, having lost more than three-quarters of company value since listing at 390 pence in March 2021. The company, which…

Environmental groups have filed a lawsuit against Dutch airline KLM, arguing that advertisements promoting the company’s sustainability strategy are deceptive. According to the NGOs, this is the first lawsuit to challenge so-called airline industry “greenwashing.” They claim that KLM’s advertisements and carbon-offsetting system provide the false impression that their flights will not exacerbate climate change.…

Ford Motor and its crosstown competitor General Motors both reported their lowest quarterly sales in China since the coronavirus pandemic began, owing to a recurrence of Covid cases in the nation and persistent worldwide supply chain issues. Ford said it sold 120,000 vehicles in the second quarter, a roughly 22 percent decrease from the previous year…

Elon Musk is attempting to terminate his $44 billion (£36 billion) bid for Twitter, claiming repeated violations of the agreement. The statement is the latest twist in a long-running affair that began in April when the world’s richest person decided to purchase Twitter. Musk stated that he withdrew because Twitter did not provide adequate information…

The CEO of German automaker Volkswagen sought to allay fears about electric car sales and semiconductor shortages, saying that delivery periods for EVs will shorten as the year goes. “The outlook is very good, we have [a] very good order intake in Asia,” Herbert Diess told CNBC. In recent years, supply chain restrictions, notably those…

People returning to work and social gatherings wore the comfy styles that had reigned during lockdowns, thus Levi Strauss & Co’s denim jeans and jackets flew off the shelves in the second quarter. This, combined with higher prices, enabled Levi’s to outperform expectations and raise its quarterly dividend, sending its shares up roughly 4% in…

Russia’s Gazprombank is looking into strategic options for its Swiss operations, including the sale of all or portions of it, according to Zurich-based Gazprombank Switzerland. Because the other big Russian banks are sanctioned for Moscow’s invasion of Ukraine, Gazprombank is one of the only surviving routes for financing commercial flows between Russia and Switzerland. Its…

Apple Inc announced on Wednesday that it will introduce a new feature called “Lockdown Mode” this fall, with the goal of adding a new layer of safety for human rights campaigners, political dissidents, and other targets of sophisticated hacker assaults. At least two Israeli firms have exploited weaknesses in Apple’s software to remotely break into…