American electric car maker Tesla Inc said on Monday that it will seek approval from its shareholders to expand its share count in order to permit it to conduct a stock split in the form of a dividend. This pushed its stocks by 5 per cent. The board of directors has authorised the proposal, and…
Renault CEO Luca de Meo cautioned on Thursday that the automaker’s withdrawal from Russia presents a “very problematic scenario” for the firm, threatening profitability and sales as the company strives to expedite a multi-year recovery project. In an internal video for staff, de Meo stated that Renault will prioritise employee safety as it considers options…
Ferretti Group, an Italian luxury yacht manufacturer, has priced its shares at HK$22.88 each, the lower end of its projected range, in order to generate HK$1.9 billion ($242.75 million) in its Hong Kong initial public offering, according to Refinitiv’s IFR service on Friday. The company sold 83.58 million shares, or around 25% of its total…
Global banks such as Citigroup Inc, JPMorgan Chase & Co, and Societe Generale are under pressure from rivals and funds to commit to remaining as custodian banks in Russia, as rivals and funds fear losing services vital to future investment in the nation. Three other financial institutions’ traders, bankers, and executives told Reuters they were…
KoBold Metals, a mineral exploration business backed by billionaires such as Jeff Bezos and Bill Gates, announced on Thursday that it would commence drilling for crucial elements used in electric vehicles in Greenland. Last year, KoBold, which searches for raw minerals using artificial intelligence and machine learning, acquired a 51 per cent share in the…
According to recent data, the cost of living in Russia is increasing as a result of the country’s invasion of Ukraine. According to official data, the price of basic household commodities, such as sugar, has risen by as much as 14 per cent in the last week. Inflation is expected to continue to rise in…
According to trade sources quoted in media reports, Western countries are declining to interact with Russia at the World Trade Organization (WTO) in Geneva in a coordinated strategy that has already stalled discussions in a variety of sectors. The invasion of Ukraine by Russia, followed by economic isolation as a result of Western sanctions, is…
Following Russia’s invasion of Ukraine, a jump in prices of sunflower oil has created an opportunity for growers of one of Spain’s most well-known products – olive oil. Even though Spanish stores limited sunflower oil purchases to a few bottles per person, stocks were quickly depleted, pushing businesses to stock up on the local alternative. “I…
ING Groep NV, one of the first big global banks to pledge to such a move in the battle against climate change, has announced that it will no longer fund new projects in oil and gas sector. The decision by the Dutch financial services business puts pressure on its colleagues to heed the International Energy Agency’s…
Kohl’s revealed on Monday that it has received a number of preliminary offers from parties interested in buying the department store chain. In a news release, Kohl’s stated that the ideas are nonbinding and do not include any guarantees of funding. Goldman Sachs bankers have been appointed by the company’s board of directors to coordinate…
