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Ferrari’s bespoke Luce EV one-off fetches $40 million at charity auction
3+ hour, 12+ min ago (249+ words) MILAN, Aug 17 (Reuters) – Ferrari has sold at auction a one-off, bespoke version of the Luce, its first fully electric vehicle, for $40 million, the Italian luxury sports car maker said, adding that the money will be used for education projects to…...
Wisconsin Democrats pick Rebecca Cooke to challenge Republican Van Orden in bid to flip House
5+ day, 9+ hour ago (105+ words) NEW YORK, Aug 11 (Reuters) - Wisconsin Democrats on Tuesday voted for Rebecca Cooke, a former small business owner and waitress, to challenge Republican U.S. Representative Derrick Van Orden in the state's third congressional district, con... Wisconsin Democrats pick Rebecca Cooke…...
Basketball-Nelson, Hall of Fame coach and five-time NBA champion as a player, dies at 86
1+ week, 16+ hour ago (318+ words) Aug 9 (Reuters) – Hall of Famer Don Nelson, who won five NBA titles as a player and was a three-time Coach of the Year, has died at 86, his family said on Sunday. Nelson ranks second in NBA history with 1,335 regular-season coaching…...
Volkswagen to overhaul US strategy with planned pick-up truck, source says
1+ week, 2+ day ago (165+ words) BERLIN, Aug 7 (Reuters) – German auto group Volkswagen plans to overhaul its U.S. strategy with new management and a revised product offering, including a new pickup truck, a company source told Reuters on Friday. Marco Schubert, previously head of sales at…...
Debt burden grows for German suppliers in embattled auto sector, study shows
1+ week, 2+ day ago (224+ words) BERLIN, Aug 7 (Reuters) – German auto suppliers are more indebted and spend more on interest than their international rivals as competition from China intensifies, according to excerpts from an upcoming study seen by Reuters. A financial analysis by Strategy&, PwC’s German…...
Volkswagen must act now, controlling families say, as profit falls
1+ week, 3+ day ago (174+ words) BERLIN, Aug 7 (Reuters) – Volkswagen must act now to secure competitiveness, the German auto group’s controlling families said on Thursday, in their clearest message yet to management amid a push to ramp up cost cuts and fend off Chinese rivals. “The…...
Analysis-Prestige beauty outpaces high-end bags as China’s luxury spending evolves
1+ week, 6+ day ago (759+ words) By Casey Hall and Dominique Patton SHANGHAI/PARIS, Aug 4 (Reuters) – For Chinese consumers seeking luxury, prestige skincare is trumping designer bags as a prolonged property downturn and weaker confidence make price tags ever more decisive, even for premium goods. Analysts…...
Aston Martin creditors threaten legal action over plan to sell branding rights, FT reports
1+ week, 6+ day ago (312+ words) Aug 3 (Reuters) – A group of Aston Martin’s creditors has threatened legal action against the carmaker after learning that it plans to sell a portion of its branding and naming rights as part of a new debt financing package, the Financial…...
Qualcomm wins BMW chip supply deal for future vehicle platforms
2+ week, 4+ day ago (211+ words) July 29 (Reuters) – Qualcomm said on Wednesday it has signed a long-term deal to supply chips for German luxury automaker BMW’s future digital cockpit and advanced driver-assistance systems through the next decade. The agreement comes as competition intensifies in the automated…...
Lamborghini’s operating profit falls as geopolitical turmoil shakes luxury car sector
2+ week, 5+ day ago (225+ words) July 29 (Reuters) – Italian luxury sports carmaker Lamborghini reported an over 8% drop in its half-year operating profit on Wednesday, reflecting sector-wide fragility spurred by tariffs and the conflict in the Middle East. The Volkswagen-owned luxury brand’s operating profit was €395 million ($450 million)…...