Global automakers are planning to spend more than half a trillion dollars on electric vehicles and batteries through 2030, amping up investments aimed at weaning car buyers away from fossil…
Category: Business
Hershey to buy two pretzel makers for $1.2 billion
Hershey Co (HSY.N) has agreed to buy two pretzel makers in separate deals worth about $1.2 billion to beef up its snacking business, the U.S. chocolatier said on Wednesday. The…
China’s regulatory crackdown pushes Tencent to slowest revenue growth since 2004
Chinese gaming and social media giant Tencent Holdings (0700.HK) posted its slowest revenue growth since it went public in 2004 on Wednesday, hurt by a regulatory crackdown, and said the…
Rivian CEO sees annual production capacity of at least 1 mln vehicles before 2030
Electric vehicle startup Rivian Automotive Inc (RIVN.O) plans to be building at least one million vehicles annually by the end of the decade, its chief executive said on Tuesday, as…
U.S. Treasury issues guidance for $10 billion small business credit program
The U.S. Treasury Department on Wednesday released new implementation guidance for the $10 billion State Small Business Credit Initiative Program, designed to allow firms in disadvantaged communities access capital. The…
Adidas sees $1.2 bln sales hit as supply snags drag on
German sportswear company Adidas (ADSGn.DE) warned on Wednesday of a 1 billion euro ($1.2 billion) hit to sales from factory closures in COVID-hit Vietnam and supply chain bottlenecks that it…
Wendy’s profit view squeezed by rising commodity costs, labor crunch
Wendy's Co (WEN.O) on Wednesday projected annual profit below market estimates as a widespread labor shortage and rising costs of raw materials eat into the fast-food chain's margins, sending its…