Year: 2024

German luxury automaker Mercedes-Benz (OTC) announced on Friday that its third-quarter earnings in the core car division plummeted by 64%, as Chinese consumers continued to reduce spending on luxury goods amid a weakening economy.”The Q3 results fall short of our expectations,” stated CFO Harald Wilhelm.The earnings for July to September…

Egypt’s economic growth is projected to rise to 4.0% by the end of June 2025, as austerity measures from an International Monetary Fund program take effect, according to a Reuters poll released on Thursday.The median forecast from a Reuters poll of 13 economists conducted between October 9 and 23 anticipates…

U.S. stock futures are mostly up following Wednesday’s decline, which was characterized by rising yields and falling shares of major tech companies. Tesla (NASDAQ: TSLA) saw its stock soar after reporting better-than-expected earnings and an optimistic delivery outlook. Meanwhile, striking Boeing (NYSE: BA) workers on the U.S. West Coast have…

On Thursday, China’s commerce ministry voiced its opposition to U.S. sanctions targeting Chinese companies involved in the production and shipment of attack drones to Russia. Ministry spokesperson He Yadong stated at a press briefing, “China strongly opposes unilateral sanctions and extraterritorial jurisdiction that lack a foundation in international law and…

Seven & i Holdings’ strategy to divest underperforming businesses aims to enhance its core 7-Eleven convenience store operations, according to the company’s CEO. This move comes as the Japanese retailer seeks to resist a $47 billion takeover bid from Canada’s Alimentation Couche-Tard.During an “investor day” briefing with analysts and investors,…

Gold prices saw a slight increase during Asian trading on Thursday, though they were still recovering from recent declines from record highs due to concerns over the U.S. election and changing interest rate expectations, which have strengthened the dollar.Despite losses on Wednesday, gold remained up for the week, supported by…

Oil prices declined on Wednesday after industry data revealed that U.S. crude inventories increased more than anticipated. Despite this, crude futures are still up about 3% this week as traders account for ongoing conflict in the Middle East.Brent crude futures fell 73 cents, or 1%, to $75.31 a barrel by…

In today’s market outlook, Mike Dolan highlights the strengthening dollar, which has reached its highest levels in nearly three months against the euro and yen, fueled by rising U.S. Treasury yields amid pre-election jitters. As the International Monetary Fund (IMF) holds its annual meeting and G7 finance ministers and central…

South Africa’s headline consumer inflation declined slightly more than anticipated in September, dropping to 3.8% year-on-year from 4.4% in August, according to data released by the statistics agency on Wednesday.On a month-to-month basis, inflation remained at 0.1% in September, unchanged from the previous month.Economists surveyed by Reuters had projected inflation…

Vietnam plans to inject 20.695 trillion dong (approximately $815 million) into Vietcombank, the largest state-owned commercial bank, to enhance its capacity in supporting government initiatives, as announced by the Deputy Prime Minister on Wednesday.This initiative aligns with the banking sector development plan for 2025 and the restructuring and bad debt…