Chinese electric vehicle (EV) manufacturer BYD is preparing to enter the Canadian automotive market, according to recent regulatory filings. This expansion comes at a time when Canada is considering imposing tariffs on vehicles imported from China, following similar actions by the United States and the European Union. In June, Canada indicated that it might impose…
Toyota Motor is expected to report another quarter of double-digit growth, driven by strong demand for hybrids, when it announces its earnings on Thursday. However, signs of slowing growth are emerging after a streak of record profits. Analysts will closely examine how much momentum the world’s top-selling automaker has lost from previous quarters, amid challenges…
Russia is contemplating the legalization of cryptocurrency for international payments as the country faces sustained financial pressure from Western sanctions. The State Duma, the lower house of the Russian Parliament, will review a law on Tuesday that permits international payments via cryptocurrencies, according to Elvira Nabiullina, the governor of Russia’s central bank. “Today, the State…
An upcoming meeting of the OPEC+ panel is anticipated to maintain the current production cut agreement and delay any new adjustments, despite a recent sharp drop in oil prices, according to multiple sources within the producer group. The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, are scheduled to hold…
Spain’s anti-trust authority has imposed a substantial fine of €413.2 million ($448 million) on Booking.com for exploiting its dominant position in the market over the past five years. The National Commission on Markets and Competition (CNMC) announced on Tuesday that Booking.com, a subsidiary of the New York-listed Booking Holdings, would be penalized with two separate…
The largest domestic initial public offering (IPO) of the year is expected to raise $734 million, according to Indian e-scooter manufacturer Ola Electric. Foreign investors are interested in the sale, although the SoftBank-backed company was recently valued at a much reduced $4 billion. The IPO coincides with a boom in the Indian stock market, with…
Monday’s opening price dip for Heineken was over 7% as the beer giant’s first-half earnings growth disappointed forecasts. The shares of the firm was down 7.9% at 12:18 PM London time. Operating profit grew organically by 12.5%, less than the 13.2% company-compiled average estimate. Beer sales increased by just 2.1% compared to an estimated 3.4%…
The behemoth of Swiss pharmaceuticals, Roche, said on Monday that it is accelerating the development of its Wegovy competitor weight-loss medications in light of encouraging early-stage trial results. The company’s two obesity medication candidates are moving forward in the clinical trial process and may hit the market in the coming years, offering a possible pill-based…
Walmart intends to invest up to $200 million in self-driving forklifts as part of larger initiatives to automate additional warehouse activities, according `to a report by Reuters quoting information from sources. The biggest retailer in the world wants pallets of merchandise moved by autonomous forklifts in its distribution centres so that Walmart shops are restocked.…
The Royal Mail is one of the most recognisable corporations in Britain. When acquisitive Czech billionaire Daniel Kretinsky set his sights on it earlier this year, he selected BNP Paribas to advise him. Although clearance from the UK government is still required for the 3.57 billion pound ($4.63 billion) buyout of Royal Mail’s owner the…
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