Notizia

PARIS (Reuters) -Renault, the Western carmaker most exposed to the Russian market, posted lower first-quarter revenues due to the war in Ukraine and a semiconductor shortage, partially offset by higher prices and rising electric vehicle (EV) sales.

German business software group SAP reported on Friday a first-quarter revenue growth of 11%, beating estimates on a boost from its cloud business, but flagged a revenue hit of 300 million euros ($325.26 million) because of its exit from Russia.

French-Italian eyewear group EssilorLuxottica reported on Friday a sharp rise in first-quarter revenues, citing solid performance across all regions.

Steel boss James Brand raises his voice above the roar of metal being funnelled into a foundry furnace as he details how rampant costs have pushed him to raise his prices by 70%.

BEIJING (Reuters) -Industrial output in Shanghai, China's most populous city, slumped in March, the first monthly decline in two years, after stringent lockdown measures halted production in some factories, a city official said on Friday.

Renault, the Western carmaker most exposed to the Russian market, posted a drop in first quarter revenues compared to a year earlier, as the conflict in Ukraine and problems with supplies of semiconductor hit the market. The group, which also produces Dacia and Lada brand vehicles, said its sales fell by 2.7% from a year earlier to 9.748 billion euros ($10.6 billion). Excluding the activities of Avtovaz and Renault Russia, it stood at 8.9 billion euros, down by 1.1%.

Germany's industrial heavyweights are teaming up to retrain workers in areas such as software and logistics to fill a growing skills gap and avoid layoffs among workers of all ages as the economy shifts to clean energy and online shopping.

Expectations that a hawkish Federal Reserve will cause an economic slowdown are pushing some investors to increase exposure to long-term Treasuries, as policymakers continue signaling they are ready to ramp up their fight against inflation.

(Reuters) -Oil prices extended losses on Friday, heading for a 4% weekly drop and burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even as the European Union weighed a ban on Russian oil.