Business

ABB unveils higher sales and profit targets

ABB (ABBN.S) unveiled higher sales and profitability targets on Tuesday as the Swiss engineering company expects to benefit from higher demand from rebounding economies and trends such as decarbonisation and shrinking workforces. The maker of industrial automation and factory robots expects annual sales to increase in a range between 4% and 7% over the economic […]

Business

Boeing says PE firm 777 Partners orders 30 more 737 jets

Boeing Co (BA.N) said on Tuesday Miami-based 777 Partners had agreed to purchase 30 more 737 MAX jets that would nearly double the private-equity firm’s order book for the aircraft. The order, valued at $3.7 billion at list prices, comes as a potential boost for the planemaker, which said last month that it had delivered […]

Business

Petrol, Diesel Prices Today Remain Under Rs 100 in Several Cities. Check Fuel Rates

Petrol and diesel prices remained constant for more than three weeks. No variation was observed in the fuel prices across the country. In Delhi, petrol was being retailed for Rs 103.97 a litre while the rate of diesel was Rs 86.67 per litre. In the financial capital, a litre of petrol could be bought at […]

Business

No Evergrande bondholders have received overdue coupon payments

No holders of two bonds issued by China Evergrande Group’s unit Scenery Journey Ltd had received overdue coupon payments as of 1400 GMT on Tuesday, a source familiar with the situation said. The embattled property giant was due to make semi-annual coupon payments on Monday worth a combined $82.49 million on its 13% November 2022 […]

Business

Stellantis looks to revenue-generating software for its cars

Automaker Stellantis (STLA.MI) rolled out its software strategy on Tuesday including a 2030 target of 20 billion euros ($22.54 billion) in annual revenue from related products and subscriptions as it takes aim at rival Tesla (TSLA.O). CEO Carlos Tavares said the world’s fourth largest carmaker expected to have 34 million connected vehicles on the road […]

Business

Norway’s Aker picks former sovereign wealth fund chief to lead investments

Norwegian conglomerate Aker ASA (AKER.OL) has hired Yngve Slyngstad, the former head of Norway’s sovereign wealth fund, to lead its asset management unit, focusing on renewable energy projects, the company said on Tuesday. “Slyngstad will be responsible for building and developing active asset management to become a new business area in Aker, on par with […]

Business

BASF to carve out auto catalyst ops to enable strategic options

Chemicals group BASF will carve out its catalytic converter business to become a standalone subsidiary ready for “strategic options” as the German company shifts its focus to battery materials for electric vehicles, it said on Tuesday. “The new standalone structure will prepare the business for the upcoming changes in the internal combustion engine market and […]