Business

Lilium aims to build 400 air taxis a year, seek grants

German air taxi developer Lilium Air Mobility plans to set up industrial capacity to make some 400 of its electrically powered Lilium Jet flying shuttles a year, while tapping schemes that provide public research support, its new chief executive said. Lilium is competing in a crowded market for electric Vertical Take-Off and Landing (eVTOL) vehicles, […]

Business

Ryanair says no hit to UK bookings yet in wake of sterling fall

Ryanair (RYA.I) has not seen any impact on bookings in the United Kingdom in the wake of the recent fall in the value of the pound and increase in domestic mortgage rates, but the market is likely to be challenging, a senior executive said. “We’re not currently seeing an impact, but it would be foolish […]

Business

Tata Motors launches $10,000 electric car in India to further its lead

Tata Motors (TAMO.NS) launched India’s lowest priced electric car at a little over $10,000 on Wednesday as the country’s only electric vehicle (EV) maker looks to draw in more buyers. Tata leads India’s EV market, helped by government subsidies and high tariffs on imports. Its move comes as domestic rival Mahindra & Mahindra (MAHM.NS) is […]

Business

J&J names consumer health business Kenvue ahead of spin-off

Johnson & Johnson (JNJ.N) named its consumer business Kenvue on Wednesday, moving ahead with its plans to spin-off the unit in what would be the biggest shake-up in the healthcare conglomerate’s 135-year history. The unit has faced nearly 40,000 lawsuits alleging its baby powder and other talc products contained asbestos later linked to mesothelioma and […]

Business

Taiwan central bank says it will not adopt foreign exchange control measures

Taiwan’s central bank said on Wednesday it will not adopt foreign exchange control measures and that foreign exchange management measures are enough to maintain financial market stability. The Taiwan dollar has, like other major Asian currencies, depreciated sharply in recent weeks due to aggressive interest rate hikes in the United States and U.S. dollar strength […]

Business

Porsche IPO books are closed ahead of listing on Thursday

The books for Volkswagen’s (VOWG_p.DE) listing of Porsche AG are closed, a bookrunner said on Wednesday, in line with the previously announced schedule for the initial public offering taking place on Thursday. Porsche shares are poised to price at the top end of the previously announced range in the listing, bookrunners said earlier this week, […]

Business

Elon Musk seeks to end SEC ‘muzzle’ requiring pre-approval of tweets

Elon Musk’s lawyers urged a federal appeals court to throw out a provision in his 2018 consent decree with the U.S. Securities and Exchange Commission (SEC) requiring a Tesla Inc (TSLA.O) lawyer to vet some of his posts on Twitter. In a brief filed late on Tuesday with the 2nd U.S. Circuit Court of Appeals […]