Business

Southwest Airlines losses narrow as leisure travel bounces back

Southwest Airlines Co (LUV.N) on Thursday reported a smaller quarterly loss and said it would remain profitable for the rest of the year, as leisure bookings rebound thanks to aggressive vaccination drives. The U.S. budget carrier has been one of the biggest beneficiaries of the easing of coronavirus curbs as it mainly caters to the […]

Business

Tesla will ‘most likely’ restart accepting bitcoin as payments, says Musk

Electric-car maker Tesla Inc (TSLA.O) will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency, Chief Executive Officer Elon Musk said at a conference on Wednesday. Bitcoin was up 8% at $32,160.16, while ether surged 11.6% to $1,993.36. Tesla’s shares were […]

Business

ABB hikes sales outlook, readies electric charger business IPO

Engineering company ABB (ABBN.S) doubled its full year sales guidance on Thursday thanks to resurgent global industrial demand and said it is forging ahead with plans to float its fast growing electric vehicle charging business next year. The factory drives and robot maker reported better than expected second quarter results and said double-digit order growth […]

Business

Visa to acquire Currencycloud at 700 million pounds valuation

Visa Inc (V.N)said on Thursday that it had agreed to buy British cross-border payments provider Currencycloud at a valuation of 700 million pounds ($962.01 million). Visa has been a Currencycloud shareholder since 2020, and the financial consideration will be reduced by the equity that the card network company already owns in the startup, the company […]

Business

Volkswagen expects China EV sales to soar in H2

Volkswagen (VOWG_p.DE) expects sales of its ID series of electric vehicles in China — the world’s largest car market — to pick up significantly in the second half of the year, Chief Executive Herbert Diess said on Thursday. By the end of the year, Volkswagen wants to sell between 80,000 and 100,000 of the series […]

Business

India watchdog accuses Amazon of concealing facts in deal for Future Group unit

India’s antitrust regulator has accused Amazon.com Inc (AMZN.O) of concealing facts and making false submissions when it sought approval for a 2019 investment in a Future Group unit, a letter to the U.S. e-commerce giant. The letter complicates Amazon’s bitter legal battle with Future Group over the Indian’s firm’s decision to sell its retail assets […]

Business

Barclays appoints Ingrid Hengster as head of Germany

Barclays (BARC.L) has appointed Ingrid Hengster as country Chief Executive for Germany, the British bank said on Thursday, as well as making her a global chairman for investment banking. Hengster joins from KfW Bankengruppe. The move is the latest in a series of appointments as Barclays rejigs its management ahead of reporting interim results on […]