Business

Maserati unveils hybrid version of Levante SUV

Maserati, Stellantis’ premium carmaker, unveiled the hybrid version of its Levante large sports utility vechicle (SUV) on Monday, refreshing its range as part of a turnaround effort. Available from this summer, Maserati’s first hybrid SUV will be based on a mild-hybrid technology, which offers some electric assistance to a traditional engine. “A plug-in hybrid platform […]

Business

Citigroup to ramp up Chinese investment banking plan

Citigroup plans to expand its investment banking business in China and will soon apply to set up local underwriting, sales and trading and futures trading businesses by the end of June, a person with direct knowledge of the matter told Reuters. The move comes after the U.S. bank revealed last week it would sell its […]

Business

The ‘metaverse’ bet: crypto-rich investors snap up virtual real estate

What do you do with a $69 million artwork that doesn’t physically exist? That’s the question faced by the Singapore-based investor calling himself Metakovan, who made headlines last month when he bought the digital artwork “Everydays: The First 5000 Days” by the American artist Beeple at Christie’s. The work is a non-fungible token (NFT) – […]

Business

Our factories are hungry’ – U.S. farm machinery maker faces dearth of components

Farmers flush with cash after a run-up in grain prices are clamoring for farm machinery maker AGCO Corp to get them new equipment in time for this year’s harvest. This is a boom time for the Georgia-based company after years of depressed demand. But AGCO is scrambling to keep up because disruptions all along its […]

Business

Fearing foreclosure crisis, U.S. watchdog cracks down on mortgage servicers

The U.S. consumer watchdog is scrutinizing mortgage servicers’ compliance with pandemic relief programs amid concerns struggling homeowners are not getting the help they need to avoid foreclosures, or are being discriminated against, said a dozen people with knowledge of the regulatory effort. The Consumer Financial Protection Bureau (CFPB) crackdown by its policy, supervision and enforcement […]

Business

Britain’s Kantar nears $1.5 billion deal to buy Vista-backed Numerator, sources say

British market research firm Kantar is in final talks to buy U.S. rival Numerator from Vista Equity Partners in a deal worth about $1.5 billion, two sources with knowledge of the discussions told Reuters. The deal, expected to be announced imminently, will see Kantar taking full control of the U.S. firm which specialises in providing […]

Business

Toyota to review climate stance as investors turn up the heat

Japan’s Toyota Motor Corp signalled a shift in its climate change stance on Monday, saying it would review its lobbying and be more transparent on what steps it is taking as it faces increased activist and investor pressure. The carmaker came under scrutiny after siding with the Trump administration in 2019 in a bid to […]