Slashed prices have given Tesla (NASDAQ:TSLA)’s China sales a pop, but analysts, and even fans, warn the U.S. automaker needs to up its long-term game to avoid choking on the dust of fast-moving rivals in the world’s biggest electric vehicle market. Most immediately, Tesla’s January price cuts drove deliveries of its China-made vehicles up 18% […]
Nissan (OTC:NSANY) Motor Co and Renault SA (OTC:RNLSY) said on Monday they would invest $600 million to make six new models in India. The Japanese and French automakers will work on the projects from their base in Chennai, turning it into an export hub, they said in a statement. The six models, with each automaker […]
Intel Corp is considering a significant increase in its existing $1.5-billion investment in Vietnam to expand its chip testing and packaging plant in the Southeast Asian nation, two sources familiar with the matter told Reuters. The possible move, which one source said could be worth about $1 billion, would signal a growing role for Vietnam […]
Australia’s central bank on Friday revised up its forecasts for core inflation and wages growth and warned of further increases in interest rates, raising the risk the economy could slip into recession. In a hawkish-sounding quarterly Statement on Monetary Policy, the Reserve Bank of Australia (RBA) said domestically-sourced cost pressures were still picking even if […]
AstraZeneca PLC (LON:AZN) posted better-than-expected core income in the fourth quarter, thanks to strong demand for its cancer and rare disease therapies that helped make up for waning sales of its COVID-19 vaccine. Core earnings per share during the three months ended on December 31 was $1.38, a drop in actual terms of 17% compared […]
Danish brewer Carlsberg (OTC:CABGY) on Tuesday forecast organic operating profit growth in 2023 below last year’s level as higher beer prices are expected to dent consumption. The world’s third-biggest brewer expects organic operating profit this year to change by between minus 5% and plus 5%, compared with 12% growth last year. “2023 will be another […]
The hackers who claimed responsibility for a disruptive breach at financial data firm ION say a ransom has been paid, although they declined to say how much it was or offer any evidence that the money had been handed over. ION Group declined to comment on the statement. Lockbit communicated the claim to Reuters via […]
Japanese startup Aerwins Technologies, which is selling a Star Wars-inspired $555,000 hoverbike, has received approval to list on the NASDAQ in a merger with blank-check firm Pono Capital Corp, the manufacturer said on Friday. Aerwins, which is taking orders for the XTurismo hoverbike with a motorcycle-like body on top of propellers that it unveiled last […]
Sweden’s H&M reported on Friday a much larger than expected drop in September-November profit, hit by weak consumer confidence and soaring costs that it did not fully pass on to price tags, sending its shares down 7% in early trade. Operating profit in the period, the world’s second-biggest fashion retailer’s fiscal fourth quarter, was 821 […]
Despite pre-IPO shareholders’ lock-in period coming to an end, Nykaa is seeing no selling pressure in trade today (November 10), on account of the bonus issue announced by the cosmetics-to-fashion retailer. This is a masterstroke by investment banker-turned-entrepreneur Falguni Nayar to stem a potential fire sale as the lock-in shares get released into the market […]