While Warning Of ‘Challenging Operating Environment’, GE Upgrades 2021 Earnings Forecast

A rebound in its jet-engine businesshelpedGeneral Electric Co to report quarterly profits that beat market’s expectations and prompted the company to announce an upward revision to its full-year earnings forecast on Tuesday. However, the industrial conglomerate also issued a warning that it faced a “challenging” operating environment due to the acute issues in the global…

Chip Shortage Impacts Hyundai Motor’s Q3 Profit Missing Estimates

With the global semiconductor crisis slowing down vehicle production and consequently sales, Hyundai Motor Co. of South Korea marginally missed analysts’ profit projections for its latest completed quarter. While announcing the quarterly results, the company also said that it expected it will take a long time for the global chip supply shortage to normalize. A…

Munich Based Main Plant Of BMW To Phase Out Fossil-Fuel Burning Engines By 2024

The German luxury auto maker BMW will discontinue making internal combustion engines at its primary factory unit in Munich by 2024, said the company’s chief of manufacturing while speaking at a conference marking the beginning of production of its electric i4 vehicle. In the future, its factories in Austria and the United Kingdom will be…

Walt Disney Downgraded By Barclays After Three Years Due To Lacklustre Performance Of Disney+

Following a call by Barclays to Walt Disney to bring in bold changes in the media giant to pose a turnaround for the slowing growth of the company’s Disney+ streaming service, the stocks of the company saw a rare downgrading at the Wall Street. Hints of a slowdown in Disney+ were mentioned last month by…