(Reuters) – Germany’s Daimler Truck said on Tuesday it was assessing the future of its China operations as a recovery in the Chinese truck market remained elusive, and flagged a 180 million euro ($195 million) one-off valuation adjustment charge. The adjustment charge will be booked in the third quarter and will not impact the operational …
Daimler Truck assesses China business, flags $195 million valuation hit Read More »
By Akash Sriram and Aditya Soni (Reuters) – Apple is expected to report its biggest quarterly revenue jump in two years on Thursday, with iPhone demand faring better than recent years toward the end of the company’s annual release cycle, especially in China. The results will provide investors the first hints of demand for the …
Apple set for biggest revenue jump in two years on iPhone demand in China Read More »
By Philip Blenkinsop BRUSSELS (Reuters) – The European Union formally approved imposing tariffs on Chinese-made electric vehicles (EVs) on Tuesday after an investigation that has divided the bloc and prompted retaliation from Beijing. The European Commission has set rates ranging from 7.8% for Tesla to 35.3% for China’s SAIC and other producers deemed not to …
Explainer-What happens as EU concludes investigation of Chinese-made EVs? Read More »
BEIJING (Reuters) – Xiaomi unveiled a luxury version of its SU7 electric sports car on Tuesday, saying the $114,000 model would rank as the fastest four-door car in production in a direct challenge to the likes of Tesla and Porsche. Xiaomi, still better known for smartphones and home appliances than cars, entered China’s crowded EV …
Xiaomi launches faster version of flagship EV in challenge to Tesla Read More »
BEIJING (Reuters) – Chinese President Xi Jinping urged senior provincial government officials to “pool their strength” to pursue the country’s reform goals, the official Xinhua news agency reported on Tuesday. In a speech, the leader of the world’s second-largest economy said all regions and departments should “conscientiously implement a series of major initiatives identified”. He …
China’s Xi urges govt officials to push for reform, meet targets Read More »
By Sherin Sunny and Yantoultra Ngui (Reuters) – Hongkong Land will refocus its activities exclusively on investment properties in key Asian cities and will redirect capital out of its residential or build-to-sell division, it said on Tuesday. Hongkong Land, which expects to raise proceeds worth $6 billion from divestments as part of the new strategy, …
Hongkong Land expects $6 billion in proceeds from strategy refocus Read More »
By Selena Li and Lawrence White HONG KONG/LONDON (Reuters) – HSBC Holdings beat third quarter profit expectations on Tuesday thanks to rising wealth and wholesale banking revenue, but kept investors waiting for more detail on how a sweeping overhaul of its structure will deliver cost savings. HSBC announced last week that it will merge some …
HSBC coy on cost savings of revamp as quarterly profit tops expectations Read More »
WASHINGTON (Reuters) – The United States and Taiwan will begin negotiations in the coming weeks to work on an agreement to address double taxation issues, the U.S. Treasury Department said on Tuesday. Both sides have said such an agreement will foster more investment, and Taipei has long pushed for it. The move was announced as …
US, Taiwan to begin talks on double taxation deal, says Treasury Department Read More »
By Niket Nishant and Manya Saini (Reuters) -PayPal forecast fourth-quarter revenue below estimates on Tuesday as the digital payments company shifts its focus from aggressive growth to high-margin businesses, sending its shares down 5%. Efficiency became a priority for the company under CEO Alex Chriss, who since taking the helm last year has been pushing …
PayPal’s revenue forecast fails to impress as profit push puts growth behind Read More »
By Arsheeya Bajwa (Reuters) – Intel is expected to report its biggest quarterly revenue drop in five quarters on Thursday, potentially signaling more erosion of data center and personal computer market share for the once iconic American chipmaker. Shareholders have turned their focus to CEO Pat Gelsinger’s attempts to salvage the company’s lost market lead …
Intel set for big drop in quarterly revenue as chipmaker struggles to bounce back Read More »
