Chinese vendor ZTE booked modest profit and revenue gains in the opening quarter of 2024, highlighting a shift beyond its core telecoms business as domestic operators encounter pressure from a downbeat investment environment.
Luxury British brand expects challenging trading conditions in UK and China to continueMulberry, the luxury British brand best known for its leather handbags that can cost more than £1,600 each, has reported a 4% decline in annual sales, becoming the latest high-end company to warn of a slowdown in spending among the richest shoppers.In a trading update, Thierry Andretta, the chief executive, said: “While we achieved positive revenue growth in the first half, Mulberry has not been immune to the...
Throughout the COVID-19 pandemic, various supply chain issues and high inflation, Starbucks could still count on its consumers to buy their iced oat milk lattes. But that economic certainty may be in doubt after the coffee giant reported weaker-than-expected revenue and earnings in the latest quarter.
Mounting competition in the stuttering electric vehicle market is taking the juice out of Tesla. The automaker's first-quarter profit plummeted 55% as falling global sales and price cuts sliced into the EV maker's revenue and earnings. The company said Tuesday it made $1.13 billion in profit from January through March, compared with $2.51 billion in the same period a year ago. Revenue was $21.3 billion, down 9% from last year, the company said.Tesla executives blamed the dip partly on EV sales...
The common electric vehicle doesn't need to hit lightning speed – but
Honda Motor Company announced Thursday it’s investing $15 billion to expand its Ontario footprint to build electric vehicles and create a supporting supply chain. And that huge commitment by the Japanese carmaker will trigger big economic spinoff benefits for the Windsor-Essex area, auto sector experts say. The investment will require four new plants in Ontario, […]
(Reuters) -Harley-Davidson on Thursday reported a 23% decline in first-quarter profit, hurt by slowing motorcycle sales as high borrowing costs deter potential buyers from making expensive purchases, sending its shares down 18% in afternoon trade. The company also reaffirmed its full-year revenue growth forecast of flat to down 9% for its motorcycle business and an operating income margin of between 12.6% and 13.6%, the top end of which was in line with the year-earlier number. "We're really...
Honda Canada is set to build an electric vehicle battery plant near its auto manufacturing facility in Alliston, Ont., where it also plans to produce fully electric vehicles, The Canadian Press has learned. Senior sources with information on the project confirmed the federal and Ontario governments will make the announcement this week, but were not yet able to give any dollar figures. However, comments Monday from Ontario Premier Doug Ford and Economic Development Minister Vic Fedeli...
Figures for England obtained by Lib Dems show that 500,000 people in ‘very urgent’ need travelled to hospital without ambulance in 2023Growing numbers of seriously ill people are making their own way to A&E in what has been called an “Uber ambulance crisis”, because 999 response times are too slow.A&E doctors said that while they understood that people are acting out of “desperation”, they are taking a serious risk with their health, especially if they are driving themselves. Continue reading
Viaplay Q1 2024: Swedish video streaming giant Viaplay posted 5.6 per cent growth in organic sales in the first quarter of 2024, marking a decline from the 27.3 per cent growth seen in the same period last year. This slowdown comes as the company directs its efforts towards operational enhancements following a comprehensive recapitalisation initiative.Last year, Viaplay underwent major restructuring, including the replacement of its CEO and a reduction of its workforce by 30 per cent. In...
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on over a dozen entities, individuals, and ships for their role in the clandestine sale of Iranian unmanned
E.W. Scripps has received inbound interest in its Black-culture network Bounce TV, CEO Adam Symson said in an exclusive CNBC interview.