Latest in Mercedes Benz and Porsche look for cost cuts after China slump hits profits
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Mercedes-Benz and Porsche look for cost cuts after China slump hits profits
German carmakers exposed to Asian nation’s economic malaise after benefiting from its booming auto marketBusiness - Financial Times - October 25 -
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Mercedes-Benz Earnings Slump on Tough Economic Backdrop, Fierce Competition
The luxury-car maker’s net profit halved in the third quarter and it said profitability in its main cars business was weaker due to softer pricing and lower sales of its higher-margin models.Business - The Wall Street Journal - October 25 -
Beyoncé brings star power as Kamala Harris touts ‘freedom’ in Texas
Vice-president seeks to energise women voters as White House race against Donald Trump tightensBusiness - Financial Times - October 26 -
Nasdaq hits record high as tech stocks rebound from summer sell-off
Sharp turnaround from 15% slide as investors make ‘heads I win, tails you lose’ betBusiness - Financial Times - October 25 -
Volkswagen profit plunges 64% as China sales slide
Europe’s largest carmaker highlights ‘urgent need’ for cost reductions and efficiency gainsBusiness - Financial Times - October 30 -
Nissan cuts 9,000 jobs and halves CEO’s pay as it sinks to a loss
Carmaker to slash global production capacity by a fifth in emergency turnaround planWorld - Financial Times - November 7 -
Vistry shares plunge as cost overruns hit profits
UK housebuilder blames ‘insufficient management capability’ and ‘poor divisional culture’ for underestimating costsBusiness - Financial Times - November 8 -
Estée Lauder shares plunge as China sales slump prompts dividend cut
Beauty group’s stock drops 25% after guidance withdrawn for rest of yearBusiness - Financial Times - October 31 -
Continental Posts Higher Profit as Cost Cuts Offset Sales Pressure
The auto supplier reported improved quarterly earnings as cost cuts and strong results at its key divisions mitigated revenue pressures and weakness at its ContiTech unit.Business - The Wall Street Journal - November 11 -
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Kering Warns on Profit After Sales Slump Due to Gucci Revamp, Asia Woes
The French luxury group posted third-quarter revenue below analysts’ estimates and said it expects operating profit to nearly halve this year.Business - The Wall Street Journal - October 23 -
Volkswagen CFO says 64% drop in profits shows ‘urgent need’ for cost cuts
The German car maker reported a sharp 12% drop in its sales in China as it said it profits were hit by higher fixed costs and €2.2 billion worth of restructuring expensesBusiness - MarketWatch - October 30 -
Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold
Moderna said its newest Covid vaccine saw benefits after winning approval in the U.S. three weeks earlier than the last iteration of the shot did in 2023.Business - CNBC - November 7 -
Porsche AG Sales Fall Amid Slow EV Market, China Woes
Porsche AG posted lower sales and operating profit as it faced challenges in China and a slower-than-expected shift to electric vehicles.Business - The Wall Street Journal - October 25 -
Toyota Motor Cuts Sales Forecast After Quarterly Profit Halves
The Japanese auto giant cut its annual forecast for group vehicle sales after its second-quarter profit more than halved due partly to weaker sales globally.Business - The Wall Street Journal - November 6 -
Jake Elliott looks to bounce back after recent slump; Eagles never considered change at kicker
Elliott has made just 14 of 19 field goals this seasonSports - CBS Sports - Yesterday -
PwC profits fall in Asia after scandals in China and Australia
Big Four firm reports slower global growth as regional woes compound consulting industry slowdownBusiness - Financial Times - October 29 -
UK borrowing costs hit highest level this year as gilt sell-off intensifies
Bond markets unnerved by scale of extra borrowing in chancellor Rachel Reeves’ BudgetBusiness - Financial Times - October 31 -
Major airlines are cutting services to China or quitting entirely amid low travel demand, high costs
A new report from travel news site Skift shows that seven major airlines have retreated from the country in the past four months.Business - CNBC - October 25 -
Alibaba posts profit beat as China looks to prop up tepid consumer spend
The results come at a tricky time for Chinese commerce businesses, given the broad sluggishness in the world's second-largest economy.Business - CNBC - 6 days ago -
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Estée Lauder’s stock heads for record selloff after profit warning, dividend cut
Consumer sentiment in China worsened, driving weak prestige beauty and Asia travel retail sales.Business - MarketWatch - October 31 -
Starbucks boss shakes up menu to win back customers
The coffee shop chain has also promised to look at pricing and staffing to prevent bottlenecksTop stories - BBC News - October 23 -
Small UK pub owners look overseas after Budget tax rises sap profits
Cluster of hospitality operators cancel British investments and divert spending to continental Europe insteadWorld - Financial Times - November 14 -
Barclays shares hit nine-year high after third quarter profit jumps 23%, beating expectations
British bank Barclays on Thursday reported £1.6 billion ($2 billion) net profit attributable to shareholders for the third quarter, beating expectations.Business - CNBC - October 24 -
Santander's Profit Beats Expectations on Lower Provisions, Costs
Spain’s largest bank by market capitalization reported a 12% on-year increase in net profit for the three months ended Sept. 30, as lighter provisions and costs helped offset the impact from the ...Business - The Wall Street Journal - October 29 -
DHL Owner Net Profit Falls on Costs
Deutsche Post reported a lower net profit on higher costs and said it expects earnings to grow in the fourth quarter, even in a muted economic environment.Business - The Wall Street Journal - November 5 -
Bucks reportedly looking to add talent to slumping roster, not trade Antetokounmpo
Antetokounmpo signed a contract extension just before last season, the Bucks want to improve around him.Sports - Yahoo Sports - November 9 -
Market responds negatively to latest China stimulus moves
Futures on Hong Kong-listed stocks slumped on Friday after the country unveiled its stimulus program.Business - MarketWatch - November 8 -
Taiwanese driver recounts his narrow escape during Typhoon Kong-rey
A ride-hailing driver has recounted how he had narrow escape when a huge tree smashed onto his vehicle as Typhoon Kong-rey swept over Taiwan, also sweeping away metal roofs and sending landslides ...World - ABC News - November 1 -
Children run for safety after driver hits crowd outside elementary school in China
Video shows children running after a driver hit a crowd outside an elementary school in southern China and injured several people, including kids. The suspected driver was later seen handcuffed ...Top stories - CBS News - Yesterday -
How Trump, Harris propose cutting healthcare costs
The economy and healthcare are two of the top concerns for voters in this election cycle, and both tickets have promised to lower healthcare costs. When she introduced her economic agenda earlier ...Politics - The Hill - October 25 -
Volkswagen in Drive to Cut Costs as Earnings Plunge
The automaker said it needed to urgently cut costs after reporting a sharp fall in third-quarter earnings hurt by weaker car sales in China.Business - The Wall Street Journal - October 30 -
Why mortgage costs are rising despite interest rate cut
Lenders have been raising the cost of fixed-rate deals creating a headache for buyers and those remortgaging.Top stories - BBC News - 5 days ago -
Ryanair profit drops as airline cuts passenger forecast
European low-cost carrier blames pressure on consumers for fall in faresBusiness - Financial Times - November 4
