The owner of Vauxhall, Fiat and Peugeot has issued a profit warning, blaming a hit to sales from a deterioration in the global automotive market and increased competition from Chinese rivals. Stellantis shares plunged by 14% on Monday after it said it expected profit margins to be between 5.5% and 7% for the year, down … Read more
Chinese scientists have reportedly performed a groundbreaking procedure, successfully treating a chronic type-1 diabetes patient using cell transplants, reports said on September 30. The landmark surgery, which marks a world’s first, lasted just half an hour, news agency PTI reported citing The Paper, a Shanghai-based news outlet. The patient, a 25-year-old woman, began naturally regulating … Read more
Britain’s transition to a low-carbon future has reached a milestone with the closure of its last remaining coal-fired power plant at Ratcliffe-on-Soar in Nottinghamshire. The shutdown of the 57-year-old power plant on Monday ends more than 140 years of coal power generation in the UK – an industrial story closely interwoven with Britain’s socioeconomic and … Read more
Dhirendra Kumar, CEO, Value Research, says almost one-fourth of the SIP money is coming by way of private sector and NPS and NPS is not 15% equity. It is 75% into equity and that too into only top 200 stocks, and that has not been noticed by investors and is not being talked about because … Read more
The four tech giants have presided over the consortium since they announced it in 2016, when Western governments were berating them for allowing Islamic State to post gruesome videos of journalists and humanitarians being beheaded. Now with a staff of eight, GIFCT—which the board organized as a US nonprofit in 2019 after the Christchurch massacre—is … Read more
The steel town of Port Talbot is braced for the shutdown of the final furnace at its plant on Monday which will result in heavy job losses and deal a devastating blow to communities in south Wales. Tata Steel has begun the process of winding down operations at blast furnace 4 at Port Talbot and … Read more
BEIJING/HONG KONG: China’s stimulus plans to fill consumer pockets to meet its 2024 growth target breaks away from a decades-old policy playbook, but making household demand a sustainable driver of development instead of investment is a long path paved with tough choices. Reuters reported last week that Beijing plans to issue sovereign bonds worth about … Read more
UK house prices are growing at their fastest annual rate for nearly two years as borrowing costs continue to fall on expectations that the Bank of England will keep cutting interest rates, Nationwide has said. The building society said prices grew by 3.2% in September compared with the same month last year, well above the … Read more
TOKYO: Japan’s incoming prime minister Shigeru Ishiba said on Monday a snap election would be held on Oct. 27, sending voters to the polls one month after he won the ruling Liberal Democratic Party (LDP) leadership race. Ishiba is set to replace Fumio Kishida as Japan’s prime minister on Tuesday. Among Ishiba’s key picks so … Read more
Introduction: Fastest annual UK house price growth in two years Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. We start the week with news that UK house prices have risen at their fastest pace since the aftermath of the mini-budget two years ago. Lender Nationwide has … Read more
