By Andrey Sychev (Reuters) -Mercedes-Benz will step up cost cuts after earnings halved in the third quarter hit by tepid demand and fierce competition in China, it said on Friday. The luxury carmaker cut its full-year profit margin target twice during the third quarter, joining a growing number of European rivals blaming a weakening Chinese …
Mercedes to step up cost cuts after earnings halve Read More »
(Reuters) – Global investors channelised large investments into the safety of money market funds in the week through Oct. 23 on caution over the upcoming elections in the United States and Japan, and the shift in the outlook for U.S. interest rates. According to LSEG Lipper data, investors racked up a significant $25.78 billion worth …
Global money market funds draw large inflows on election-driven caution Read More »
BEIJING (Reuters) – China’s fiscal revenue in the first nine months of 2024 fell 2.2% from a year earlier，compared with a 2.6% slide in the January-August period, finance ministry data showed on Friday. Fiscal expenditure grew 2.0% in the first nine months, versus a 1.5% increase in the first eight months. China’s economy grew at …
By Mei Mei Chu BEIJING (Reuters) – China on Friday launched a five-year action plan to accelerate the digital transformation of the entire agriculture industry chain as part of measures to raise domestic food production. The 2024-2028 smart agriculture action plan will aim to establish a digital planting technology scheme as well as a national …
China seeks to boost food output with five-year smart farming plan Read More »
BEIJING (Reuters) – The world’s largest iron ore miner Rio Tinto said on Friday it signed a Memorandum of Understanding (MOU) with China’s Nanjing Iron and Steel Co (NISCO) on decarbonisation technology in ironmaking. Technical teams from both companies will work closely on exploring pelletizing using the Pilbara fines and the application of biomass. Rio’s …
Rio Tinto signs MOU with China’s Nanjing steel on decarbonisation Read More »
FRANKFURT (Reuters) – Volkswagen has so far not presented a plan for how to make its namesake brand more competitive, the head of the group’s works council said in a handout to staff, adding management remained solely focused on labour costs. The comments by Daniela Cavallo come as Europe’s top carmaker and powerful union fight …
Volkswagen has still not presented future plan for brand, says works council boss Read More »
By Katya Golubkova TOKYO (Reuters) – Marubeni on Friday began selling salmon from a farm operated near mount Fuji by its Norwegian partner, marking another step in Japanese commodity trading houses’ expansion into the food business. Wild and sea-farmed salmon is one of the areas Marubeni and its rivals have been targeting- a growth market …
Marubeni-backed salmon farm starts Japan sales as part of diversification push Read More »
By Siddarth S (Reuters) -UBS Global Wealth Management has raised its stance on global equities to “attractive” from “neutral”, citing resilient U.S. economic growth, monetary policy easing by major central banks and an artificial intelligence (AI) boom. “Economic growth is remarkably resilient and central banks have been proactive, giving us confidence the supportive backdrop has …
UBS Global Wealth Management lifts global equities stance to ‘attractive’ Read More »
PARIS/LONDON (Reuters) – Remy Cointreau will raise cognac prices in China to help mitigate the impact of tariffs imposed by Beijing on European Union brandy amid a trade dispute, its finance chief told investors on Friday. China imposed provisional tariffs on brandy from the European Union earlier this month, days after the 27-member bloc voted …
Remy to raise cognac prices in China to offset tariffs Read More »
By Leo Marchandon (Reuters) – Shares in Signify, the world’s biggest lighting maker, jumped 8% on Friday after its third-quarter results largely met market expectations, soothing investors, while analysts pointed to potential margin improvement in the fourth quarter. “After two quarters of material miss early in the year … in-line results will be good enough …
Signify’s in-line results reassure investors, analysts predict strong Q4 Read More »
