Business

Air France-KLM unveils tiny A220 jet in superjumbo’s shadow

Air France took delivery of its first compact Airbus A220 jetliner on Tuesday, pledging greater comfort and lower emissions on short routes as its Franco-Dutch parent pushes ahead with a broader fleet shake-up to streamline costs. The French airline, part of the Franco-Dutch Air France-KLM (AIRF.PA) group, said the 148-seat, Canadian-designed jet would reduce fuel […]

Business

Chinese automaker GAC enters N. American market, but under Dodge marque

Chinese automaker GAC (601238.SS) is exporting China-made sport-utility vehicles to Mexico, in its first massive sales in the North America after years of planning to enter the key market. However, the cars are under Dodge marque. The “Dodge Journey” SUVs are built based on GAC’s vehicle design and made at its own Hangzhou factory. Stellantis […]

Business

U.S. pending home sales jump to seven-month high; mortgage applications fall

Contracts to buy U.S. previously owned homes rebounded to a seven-month high in August, but higher prices as supply remains tight are slowing the housing market momentum. Other data on Wednesday showed applications for loans to buy a house fell last week as mortgage rates increased after the Federal Reserve signaled it would likely begin […]

Business

Factbox: Billionaires battle CEOs at Italy’s Generali and Mediobanca

Power struggles at insurer Generali (GASI.MI) and Mediobanca (MDBI.MI) have billionaires Leonardo Del Vecchio and Francesco Gaetano Caltagirone pitted against the CEOs of both groups. Here are the key facts in a growing confrontation over the strategies of both Italy’s most powerful investment bank and the country’s biggest insurer, which holds 61 billion euros in […]

Business

U.S. SEC proposes rules urging hedge funds, endowments to disclose votes

The top U.S. securities regulator on Wednesday proposed requiring large hedge funds and endowments to disclose how they vote on executive pay, bringing this clutch of influential investors in line with other top funds that have made their pay votes public for a decade. The proposal, subject to a 60-day period of public consultation before […]

Business

OPEC+ seen sticking to November output plans, despite $80 oil, sources say

OPEC+ is likely to stick to an existing deal to add 400,000 barrels per day (bpd) to its output for November when it meets next week, sources said, despite oil hitting a three-year high above $80 a barrel and pressure from consumers for more supply. The Organization of the Petroleum Exporting Countries and allies led […]

Business

Luxury carmaker Rolls-Royce to switch to all electric range by 2030

Rolls-Royce will produce only electric cars by 2030, the luxury carmaker said on Wednesday, joining other premium brands making the switch such as Volkswagen’s Bentley and Jaguar’s Land Rover. The BMW-owned brand said in a statement that its first fully electric powered car, named ‘Spectre’, will be on the market in the fourth quarter of […]