Industrial Profits Plunge

Nintendo cuts profit guidance on reduced Switch sales forecast

Nintendo on Tuesday trimmed its sales and profit guidance for the March-ending fiscal year, citing reduced demand for the Nintendo Switch.

Business - MarketWatch - November 5

Apple warns future products may never be as profitable as iPhone

Analysts say artificial intelligence and virtual reality headsets might have lower margins than smartphones and App Store

Business - Financial Times - November 5

Labour hedge fund donor’s profits drop 76% after restructure

Quadrature made largest single donation to party after UK election called in May

Business - Financial Times - November 5

OpenAI Speaks to California Attorney General About Becoming For-Profit Company

A new report says CEO Sam Altman’s efforts to shed its nonprofit AI research lab status are moving forward.

Business - Inc. - November 5

Commerzbank Lifts Guidance as UniCredit Circles

Commerzbank lifted its full-year guidance for some key metrics and said its strategy is paying off, as UniCredit continued to signal interest in a tie-up with the German lender.

Business - The Wall Street Journal - November 6

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.