Category: Business

FRANKFURT – Elon Musk appears to be opening a new front in the European battle for electric car supremacy: the power behind the wheel. Musk’s Tesla (TSLA.O) has recently acquired a licence that will enable the carmaker to trade electricity across western Europe and the company has also been surveying customers in Germany about potentially […]

FRANKFURT – Germany is home to one of the world’s most liberalised electricity sectors, which was thrown open to competition 20 years ago. Today, Europe’s largest economy is seeking to blaze a trail in renewable energy. The costs of weaning the country off fossil fuels and nuclear power has financially crippled utilities at a time […]

LONDON – Virgin Atlantic’s 1.2 billion pound ($1.6 billion) rescue deal is set for completion this week after a London judge sanctioned the airline’s restructuring plan in a court hearing on Wednesday. Judge Richard Snowden gave the go ahead to the plan, which is aimed at helping the airline survive the coronavirus crisis and which […]

COPENHAGEN – Sales of Lego jumped 14% in the first six months of the year as families under coronavirus lockdowns spent more time playing together at home, the Danish toy maker said on Wednesday. Family-owned Lego has returned to growth since 2017, when a decade of double-digit sales increases came to an abrupt halt. Since […]

CHICAGO/NEW YORK – Germ-conscious in the pandemic era but still craving a donut and coffee? Procter & Gamble, which has already teamed up with Dunkin’ Brands to promote the use of its cleaning products in restaurants, is looking for more partners — and it’s hoping for a payoff in the grocery store aisle. Procter & […]

FRANKFURT – Germany’s exchange operator wants the power to name and shame companies in the wake of the Wirecard (WDIG.DE) scandal, the chief of Deutsche Boerse (DB1Gn.DE) said on Wednesday. Theodor Weimer, outlining a series of reforms he was pondering in the aftermath of the country’s biggest post-war corporate fraud, said other exchanges around the […]

BUENOS AIRES/NEW YORK – Argentina has gained breathing room after restructuring almost the entirety of $65 billion in foreign bonds, though it now faces a huge challenge to revive growth and repair government finances before the oxygen runs out. The South American grains producer said on Monday it had restructured 99% of eligible bonds in […]