Europe Car Sales Extend Winning Streak on Order Backlogs
European auto sales maintained double-digit growth in September despite higher interest rates raising the cost of acquiring a car.
Bloomberg Business
Nio’s EV-Making Partner Puts Factory, Other Assets Up for Sale
Anhui Jianghuai Automobile Group Corp., which makes electric vehicles for US-listed Nio Inc., is selling a car factory and other assets worth an estimated 4.5 billion yuan ($615 million).
Kioxia Is Said to Approach JIC to Back Western Digital Deal
Kioxia Holdings Corp. has approached Japan Investment Corp. about making a capital infusion to support its merger with Western Digital Corp. and strengthen the combined company’s financial base, according to people familiar with the matter.
US Nuclear Test Raises Concerns of New Arms Race With Russia
The US conducted a high-explosive experiment at a nuclear test site in Nevada just hours after Russia revoked a ban on atomic-weapons testing, prompting concerns of a new arms race between the world’s top nuclear powers.
BofA Sees Near-Term Stock Rally as Signal Flashes Contrarian Buy
Investor positioning in stocks has become so bearish that it’s triggered a “contrarian buy signal” in a custom Bank of America Corp. indicator, setting up the asset class for a short-term rally, according to strategist Michael Hartnett.
Inditex Strives to Make Fashion Faster With More Zara Deliveries
Inditex SA has increased the frequency of truck deliveries to some Zara stores in its home market, as part of a trial that could signal a further acceleration in the retailer’s supply chain.
China Stocks Erase All Reopening Gains as Property Woes Persist
Chinese stocks erased all the gains seen during their massive reopening rally that took off late last year, as persistent concerns about the health of the property sector help drive an unprecedented foreign outflow from the onshore market.
Vanguard’s £40 Billion Fund Tangled in Dispute Over City of London Rules
Vanguard Group’s largest UK fund range has become the focus of a growing debate about how the financial watchdog is enforcing a rule in the City of London.
India’s Biggest City Gas Stock Nosedives on Delhi’s New EV Policy
Indraprastha Gas Ltd., India’s largest city gas distributor by revenue, is heading for its worst day in more than three years after Jefferies and Morgan Stanley downgraded the stock following a new electric vehicle policy in the national capital.
Economists Boost US Growth Projections, Reduce Recession Odds
Economists raised their US growth projections through early 2024 and trimmed recession odds to a one-year low as consumers continue to spend.
