French luxury house Chanel on Wednesday lost its trademark fight with Huawei Technologies after a top European court said their logos bear no similarity to each other. The dispute dated to 2017 when Huawei sought approval from the EU Intellectual Property Office (EUIPO), a trademark body, to register its computer hardware trademark which has two vertical interlocking semi-circles. Privately owned Chanel objected, saying that the design was similar to its registered French logo of two horizontal interlocking semi-circles used for its perfumes, cosmetics, costume jewellery, leather goods and clothing.
Carmaker Stellantis said on Wednesday it would replace digital speedometers with more old-fashioned analogue ones in one of its Peugeot models, in a fallout from a global shortage of semiconductor chips that is roiling the auto industry. The change will only affect Peugeot 308 cars, among group brands that include Chrysler, Citroen and Jeep since France's PSA Group merged with Italian-American company Fiat-Chrysler this year to form Stellantis. "It's a nifty and agile way of getting around a real hurdle for car production, until the 'chips' crisis ends," a spokesman for Stellantis told Reuters.
UiPath's shares surged 23.2% in their New York Stock Exchange debut, underscoring investors' appetite for high-growth tech stocks. ARK Invest's data showed the firm's exchange traded funds bought a total of about 2.7 million shares, about a third of the day's traded volume. The ARK Next Generation Internet ETF and the ARK Innovation ETF also bought a total of 247,717 shares of crypto exchange Coinbase Global Inc, which went public last week.
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. Under Chief Executive Officer Luca de Meo, who took the reins last July, Renault is looking to produce fewer cars and focus on those with higher margins, a strategy that is starting to bear some fruit. Renault, which also makes Dacia and Lada cars and has a financing business, said sales were up 4.4% when stripping out currency and other effects.
The U.S. economy is going to temporarily see "a little higher" inflation this year as the recovery strengthens and supply constraints push up prices in some sectors, but the Federal Reserve is committed to limiting any overshoot, Fed Chair Jerome Powell said in an April 8 letter to Senator Rick Scott. "We do not seek inflation that substantially exceeds 2 percent, nor do we seek inflation above 2 percent for a prolonged period," Powell said in a five-page response to a March 24 letter in which the Florida Republican raised concerns about rising inflation and the U.S. central bank's bond-buying program. Those modifiers - "substantially" exceeding 2% inflation or above that level for a "prolonged" period - help to more sharply define the upper bounds of the Fed's comfort zone as prices rise.
A group of Democratic Senators, led by Elizabeth Warren (D-MA) and Raphael Warnock (D-GA), sent a letter urging the Education Department (ED) to restore defaulted student loans to on-time status amid the ongoing payment pause, Yahoo Finance has learned.
Ant Group's money market fund Yu'e Bao shrank in the first quarter of 2021, according to Tianhong Asset Management Co Ltd, which manages the fund. The net asset value of Yu'e Bao stood at 972.4 billion yuan ($149.92 billion) at end of the first quarter, according to the fund's Q1 report on Thursday, down 18.3% from that of 1.19 trillion yuan at end of 2020. The drop came as regulatory pressure mounted on Jack Ma's Ant Group.