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Earnings

Strong Asia growth powers Hermes sales in Q1

Sales at Birkin bag maker Hermes soared 44% in the first quarter, powered by strong growth in Asia, where revenues nearly doubled from a year earlier as COVID-19 restrictions eased and shops reopened.

AB Volvo rides demand recovery, but chip woes loom

STOCKHOLM (Reuters) -Swedish truckmaker AB Volvo smashed forecasts for first-quarter core earnings on Thursday on the back of surging demand, lifting its shares, but cautioned a global chip shortage was set to hit production in the near term.

Lagging rivals, Renault sales fall for fifth straight quarter

PARIS (Reuters) -Renault's sales fell for a fifth straight quarter as the French carmaker struggled to shrug off the fallout from the pandemic without a major presence in booming Chinese markets and a global shortage of electronic chips hit production.

Business Video

Markets News

U.S. stocks slip, dollar has worst week in almost two months

NEW YORK (Reuters) -U.S. stocks dropped on Friday to pull further from record highs as an underwhelming earnings report from Amazon.com Inc dampened the market mood, while the dollar bounced from its lows but still suffered its worst week in nearly two months.

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