Business

Nikkei ends above 29,000 for first time in seven months on Wall Street rally

Japan’s Nikkei ended above the key psychological level of 29,000 on Wednesday for the first time in more than seven months, after an overnight Wall Street rally in major indexes following robust earnings by U.S. retailers. The Nikkei share average (.N225) rose 1.23% to 29,222.77, its highest closing level since Jan. 5. The broader Topix […]

Business

Carlsberg says beer sales robust despite rising living costs

Danish brewer Carlsberg (CARLb.CO) said on Wednesday it had not seen rising living costs impacting beer sales, but that higher raw material prices would pressure earnings in the second half of the year. The world’s third-biggest brewer said sales in the second quarter were boosted by the reopening of bars and restaurants in most markets. […]

Business

China’s EVE to supply BMW with large Tesla-like cylindrical batteries in Europe

China’s EVE Energy Co Ltd (300014.SZ) will supply BMW (BMWG.DE) with large cylindrical batteries for its electric cars in Europe, two people with knowledge of the matter said, as the German automaker follows Tesla Inc (TSLA.O) in adopting the new technology. EVE has signed contracts to be BMW’s primary supplier of the battery cells in […]

Business

‘You’ll be glad you bought a flamethrower’: The tweets of Elon Musk

Billionaire Elon Musk, the chief executive of electric automaker Tesla Inc (TSLA.O) and rocket company SpaceX, on Tuesday tweeted that he was buying soccer club Manchester United (MANU.N), before posting later that he said it as a joke. Musk has a history of being unconventional, posting irreverent tweets. It is often not clear if he […]

Business

As earnings support U.S. stock rebound, worries over future profits grow

Stronger-than-expected corporate earnings have helped fuel the rebound for U.S. stocks but some investors are pointing to potential risks ahead for profits that could sap the market’s momentum. With the vast majority of S&P 500 companies reported, second-quarter earnings are expected to have climbed 9.7% from a year earlier, well above the 5.6% estimated on […]

Business

More doom and gloom looms for Europe

A look at the day ahead in European and global markets from Alun John Europeans will be hoping Wednesday’s economic data will provide some respite after a string of negative headlines, but past form suggests they’d be foolish to bet too much on it. They might even be better off taking a punt on depressing […]

Business

Musk says he was joking about buying Manchester United

Billionaire Elon Musk was joking when he said he was going to buy English soccer club Manchester United (MANU.N), the entrepreneur said on Twitter on Wednesday. “No, this is a long-running joke on Twitter. I’m not buying any sports teams,” Musk said, when asked by a user if he was serious about buying the club.