Mercedes-Benz reduced its projection for yearly profit margin on Friday due to poor sales and profitability for the second quarter, but it still believes that new models will help it fight tough competition in China in the second half of the year. Lacklustre demand for electric vehicles (EVs), severe domestic rivalry in China, supply constraints,…
According to a report published on Friday in the Nikkei business daily, Toyota Motor of Japan intends to construct an electric vehicle battery facility in the southern prefecture of Fukuoka. The project will sell its batteries to a factory that produces premium Lexus brand automobiles. According to the publication, the top-selling carmaker in the world…
In the second quarter, Tesla missed Wall Street earnings estimates and recorded its lowest profit margin in over five years. The electric car manufacturer boosted its investment on artificial intelligence (AI) initiatives while lowering prices to boost demand. The business stated that it is on schedule to begin producing new cars in the first half…
As high borrowing prices restrained consumer spending, Visa’s third-quarter revenue growth below Wall Street projections, marking a rare loss for the largest payments processor in the world. As a result, its shares slumped 4.6% in extended trading. Interest rates have reached their highest point since the 2008 global financial crisis as a result of the…
The sole cobalt mine in the United States lays abandoned in the forests of northern Idaho, a neglected chunk of steel and dirt that is too costly for its owner to run due to Chinese competitors flooding international markets with low-cost supplies of the blue metal used in electronics and batteries for electric vehicles. Having…
Although the market for crude oil is now constrained, Morgan Stanley stated that there would probably be an excess of supply next year when Brent prices drop into the mid-to-high $70s area. According to a report from the bank dated Friday, equilibrium will be restored by the fourth quarter, “when seasonal demand tailwinds abate and…
Airlines, banks, and media companies were among the many sectors affected on Friday by a worldwide computer outage linked to Microsoft’s Azure cloud platform and a software problem at cybersecurity company CrowdStrike. Computers using CrowdStrike software and the Windows operating system were affected. Following the release of an update for Windows users, CrowdStrike announced that…
The makers of champagne in France demanded on Friday that fewer grapes be harvested this year after the wine’s sales dropped more than 15% in the first half of the year as consumers restricted their budgets as a result of the unsteady economy. 106.7 million bottles of champagne were shipped in the first half of…
According to a statistic released by Adobe Analytics on Wednesday, customers in the United States spent around $7.2 billion online across shops on the first day of Amazon’s Prime Day. In an effort to compete with Amazon’s sales event, major retailers such as Walmart and Target have started to offer substantial discounts and shopping events…
According to three industry insiders, the U.S. Securities and Exchange Commission has granted preliminary clearance to at least three of the eight asset managers intending to start trading exchange-traded funds linked to the spot price of ether on Tuesday of next week. According to the sources, approval is contingent upon applicants providing authorities with their…
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