Business News

Berkshire’s lithium venture may supply U.S. automakers, including Tesla: FT

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc has signed an agreement to allow extraction of lithium from its geothermal wells in California, a project that could offer U.S. carmakers and battery producers a secure supply of the metal, the Financial Times reported on Sunday. The venture has been in talks to supply Tesla Inc with lithium, a component for batteries to power electric cars, the newspape...

20 Jan 10:24 PM 0 Read More...

Berkshire's lithium venture may supply U.S. automakers, including Tesla: FT

(Reuters) - Warren Buffett’s Berkshire Hathaway Inc has signed an agreement to allow extraction of lithium from its geothermal wells in California, a project that could offer U.S. carmakers and battery producers a secure supply of the metal, the Financial Times reported on Sunday. The venture has been in talks to supply Tesla Inc with lithium, a component for batteries to power electric cars, the newspaper reporte...

20 Jan 7:39 PM 0 Read More...

Ghosn may have had questionable ethics, co-chair of external Nissan probe says

TOKYO (Reuters) - The co-chair of a committee set up by Japanese automaker Nissan Motor Co (7201.T) to examine the root cause of alleged financial misconduct by ousted chairman Carlos Ghosn said he believed Ghosn may have had questionable ethical standards. Ghosn, charged with three counts of financial misconduct, has been detained in Tokyo since his arrest on Nov. 19. Ghosn denies the charges against him, which incl...

20 Jan 7:39 PM 0 Read More...

Italy regulator gives TIM's network separation plan thumbs down

ROME (Reuters) - Telecom Italia (TIM) (TLIT.MI) has suffered a setback in its plan to assuage pressures for a separation of its prized network assets by placing them into a wholly owned subsidiary, as the industry regulator said it was opposed to the proposal. TIM has been under pressure for years from Italian politicians, regulators and rivals to separate and upgrade its network, which analysts have valued at up to ...

20 Jan 7:39 PM 0 Read More...

ProSieben sees pressure easing as Netflix raises prices

MUNICH (Reuters) - ProSiebenSat.1 Media believes that price increases by U.S. streaming giant Netflix could ease competitive pressures on the German group’s core TV business and is bullish on growth at its e-commerce arm, CEO Max Conze said. Conze took the helm at the Munich-based broadcaster last June but has had a rough welcome from investors who have sent its shares to seven-year lows on doubts that he can reviv...

20 Jan 2:34 PM 0 Read More...

Nissan special committee says carmaker suffered from poor governance

TOKYO (Reuters) - A special committee set up by Nissan Motor Co (7201.T) to examine the root cause of alleged financial misconduct by ousted chairman Carlos Ghosn said it appeared that the Japanese carmaker suffered from poor governance procedures, including director compensation. Ghosn has been charged with three counts of financial misconduct and has been detained in Tokyo since his arrest on Nov. 19. Ghosn denies ...

20 Jan 2:34 PM 0 Read More...

Small electric cars may be unaffordable for some: VW chairman to newspaper

BERLIN (Reuters) - The move to electric vehicles will make cars significantly more expensive, meaning they may become unaffordable for people on low incomes in the future, the chairman of Volkswagen (VOWG_p.DE) said in an interview published on Sunday. The German carmaker is still reeling from a 2015 scandal over cheating on emissions tests and needs to ramp up production of electric vehicles to meet toughened Europe...

20 Jan 2:34 PM 0 Read More...

India's SBI says lenders awaiting SEBI decision on Etihad offer for Jet Airways: paper

NEW DELHI (Reuters) - The State Bank of India (SBI.NS) (SBI)-led consortium of lenders is waiting for India’s capital markets regulator to decide on a bailout offer by Etihad Airways for the financially stressed Jet Airways (JET.NS), SBI Chairman Rajnish Kumar said, the Business Standard reported on Saturday. The UAE-based carrier, which is a major shareholder in Jet, is seeking an exemption from the Securities and...

20 Jan 2:34 PM 0 Read More...

Sorrell’s S4 Capital seeks more deals in digital-only drive

MUNICH (Reuters) – Martin Sorrell is on the lookout for acquisitions to expand his new advertising venture S4 Capital, aiming to capitalize on the disruption sweeping the industry by pursuing a pure-play digital strategy. Sorrell, who was ousted from WPP last April after three decades building it into the world’s largest advertising holding company, started again with the purchase of S4 as a shell and has ...

20 Jan 12:14 PM 0 Read More...

Eurotunnel boss says a second referendum would still back Brexit

PARIS (Reuters) - Britons would back Brexit again if asked to vote in a second referendum, the head of Eurotunnel said on Sunday. Jacques Gounon told RTL radio the original 2016 vote for Brexit was largely motivated by “anti-immigration” feeling, which would come into play again in any second plebiscite. “If there was a second referendum, I am convinced that it would again lead to a Brexit, perhaps with an even...

20 Jan 9:29 AM 0 Read More...