Business

EasyJet takes £15m hit from Gatwick drone chaos

[ad_1] Image copyright PA EasyJet says the disruption to flights caused by the drone sightings at Gatwick airport in December has cost it about £15m.It paid out £10m in "customer welfare costs" and said it had lost £5m of revenues due to flight cancellations. EasyJet said the incident affected around 82,000 customers and led to more than 400 flights being cancelled.However, the carrier also said it had made a good
Business

Exclusive: Tesla says it received battery quotes from China’s Lishen but no deal agreed

[ad_1] BEIJING (Reuters) - Tesla Inc (TSLA.O) said on Tuesday it had received quotes from Tianjin Lishen to supply batteries for its new Shanghai electric car factory but had not signed any agreement with the Chinese firm. FILE PHOTO: Visitors are seen at the booth of Lishen Battery at a new energy expo in Beijing, China March 22, 2009. REUTERS/Stringer “Tesla previously received quotes from Lishen, but did not proceed
Business

Tesla says it has no agreement with Chinese battery maker Lishen

[ad_1] FILE PHOTO: A Tesla logo is painted on a wall inside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas JacksonSHANGHAI (Reuters) - Tesla Inc (TSLA.O) denied on Tuesday that it had signed a preliminary agreement with Tianjin Lishen to supply batteries for its new Shanghai car factory, saying it had received quotes from the Chinese battery maker but did not proceed further. “We have not
Business

Oil prices fall 1 percent as China warns of job losses, Korea growth stalls

[ad_1] SYDNEY/SINGAPORE (Reuters) - Oil prices fell by around one percent on Tuesday as signs of a spreading global economic slowdown stoked concerns over future fuel demand. An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Wilking/File PhotoInternational Brent crude oil futures were at $62.09 per barrel at 0601 GMT, down 65 cents, or 1 percent, from their
Business

UBS posts fourth-quarter pre-tax profit miss, sees bumpy road ahead

[ad_1] FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann/File PhotoZURICH (Reuters) - UBS (UBSG.S) on Tuesday posted a $690 million fourth-quarter pre-tax profit, hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank. On an adjusted basis, fourth-quarter pre-tax profit fell to $862 million, less than the $1.038 billion forecast in the bank’s
Business

Asian shares, oil skid on global growth worries

[ad_1] SYDNEY (Reuters) - Asian shares stumbled and oil prices fell on Tuesday as pessimism about world growth drove investors away from risky assets, while sterling ticked lower in the face of the latest twists and turns in the Brexit saga. FILE PHOTO: A woman walks in strong wind caused by Typhoon Lan, past an electronic board showing the graphs of the recent movements of Japan's Nikkei average outside a
Business

UBS posts $690 million fourth-quarter pre-tax earnings, missing expectations

[ad_1] FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann/File PhotoZURICH (Reuters) - UBS (UBSG.S) on Tuesday posted a $690 million fourth-quarter pre-tax profit, hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank. On an adjusted basis, fourth-quarter pre-tax profit fell to $862 million, less than the $1.038 billion forecast in the bank’s
Business

Ex-Nissan boss faces more time in custody as bail denied

[ad_1] Image copyright Reuters A Tokyo court has rejected Carlos Ghosn's latest request for bail, despite his promise to wear an electronic tag to secure his release. The former Nissan boss has been in detention since 19 November on allegations of financial misconduct. Lawyers for Mr Ghosn, who denies any wrongdoing, have said he could remain in custody for months. Though bail is rarely granted in Japan without a confession,
Business

As China’s economy falters, some fund managers look to bonds

[ad_1] HONG KONG/SHANGHAI (Reuters) - Despite mounting signs of a Chinese economic slowdown, 2019 is off to a good start for fund manager Du Zhenye. FILE PHOTO: An investor watches a board showing stock information at a brokerage office in Beijing, China October 8, 2018. REUTERS/Jason LeeHis Shanghai-based ChangAn Xinyi Enhanced Mixed Fund has increased its assets over the past two weeks by shunning Chinese stocks for bonds. And it
Business

China’s fourth quarter GDP growth dented by services, agriculture despite construction rebound

[ad_1] BEIJING (Reuters) - Weakness in the service and farm sectors slowed China’s economic growth in the fourth quarter, despite a strong pickup in construction activity, official data showed on Tuesday. FILE PHOTO: Workers are seen on scaffolding at a construction site in Nantong, Jiangsu province, China January 1, 2019. REUTERS/Stringer Services grew 7.4 percent from a year earlier, slowing from 7.9 percent in the third quarter, while growth in