Category: Business

Steelmaker Ternium (TX.N) reported an 84% drop in its third-quarter net income to $220 million on Thursday, hurt by lower realized steel prices and higher raw material and energy costs. The “temporary mismatch” between a decline in steel prices and high costs, the firm said in a statement, should also affect its steel margin in […]

Buyers of a BMW (BMWG.DE) should be able to order a car directly from the manufacturer in the future with no need to involve a car dealer, its finance chief told Muenchner Merkur. “We want to give customers the opportunity to order directly from us,” Nicolas Peter said in an interview published on Thursday. The […]

Carmakers BMW (BMWG.DE) and Stellantis (STLA.MI) on Thursday expressed concerns about Europe’s economic outlook, joining a chorus of retailers and others in warning of waning consumer confidence on the continent and hitting their shares. “Obviously the macro(-economic situation) in Europe is more challenging, which gives me pause, personally,” Stellantis chief financial officer Richard Palmer said […]

EV maker Nikola Corp (NKLA.O) said it will miss its goal of delivering at least 300 semi-trucks this year and declined to issue fresh forecasts as companies cut back spending due to rising borrowing costs, sending its shares down 3% on Thursday. The company was expected to deliver between 300 and 500 Tre battery electric […]

Roku Inc (ROKU.O) shares dropped 14% to a more than three-year low on Thursday following downbeat forecasts a day earlier, as the streaming tech provider suffers from a collapse in advertising dollars. The company expects fourth-quarter revenue substantially below market estimates, while its adjusted operating loss outlook was much wider than Wall Street expectations. “This […]

With Russia’s domestic car industry smarting from the impact of Western sanctions, sales of used cars are leading a relative resurgence, with Japan accounting for more than three quarters of those imported, according to data shared with Reuters. Sales of new cars produced in Russia have slumped since Moscow sent tens of thousands of troops […]

Europe’s plan to roughly double renewable power generation by the end of the decade to cut its emissions and reliance on imported Russian fuel is under threat from market turbulence that has shaken the economics of the shift to low carbon energy. Russia’s war on Ukraine and the disruption of the gas supplies on which […]