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Volvo Cars cuts sales forecast on market headwinds
Sweden's Volvo Cars on Wednesday drastically cut its sales forecast for the year, saying car markets in China, Europe and the United States are "increasingly under pressure." "The car market in our main regions of China, Europe and the US is increasingly under pressure which affects demand," Rowan said.
Deutsche Bank profits boosted by legal settlements
Germany's biggest lender Deutsche Bank on Wednesday reported a sharp jump in third-quarter profits, boosted by the settlement of investor lawsuits related to a troubled takeover. Profits were lifted by a settlement in August with some former shareholders of Postbank, who took legal action against Deutsche Bank alleging that a takeover had shortchanged them.
Troubled Boeing faces investors and awaits strike vote
Boeing will be under a spotlight Wednesday as the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking employees vote on whether to end a costly weeks-long stoppage. Later Wednesday, some 33,000 hourly workers in the Seattle region will vote on whether to end the company's latest contract offer and end their nearly six-week strike.
Tokyo Metro shares rocket on debut
Shares in Tokyo Metro, one of the world's busiest subways, soared almost 50 percent on its debut Wednesday after its government owners raised $2.3 billion in Japan's biggest initial public offering in six years.
Cattle disease wreaks havoc in Libya
On Najmeddine Tantoun's farm on the outskirts of the western Libyan city of Misrata, the usual whir of hundreds of dairy milking machines has given way to near silence. Most of the North African country's revenue comes from its oil resources, but Misrata is a major dairy centre which used to produce 70,000 litres of milk a day.
Tokyo Metro: Asia's oldest subway goes public
Every day six and a half million people ride Tokyo Metro's nine lines, part of a dizzyingly complex transport network serving the Japanese megacity and its sprawling suburbs. The trains ran every three minutes on what is now part of Tokyo Metro's modern-day Ginza Line but were crowded with passengers who previously overran the city's trams.
Asian markets mixed as rate cut bets are trimmed; US vote in focus
Asian equities diverged Wednesday after another unremarkable day on Wall Street, where rising bond yields and comments from Federal Reserve officials dampened expectations for US interest rate cuts. The Dow and S&P 500 both fell for a second straight day on Wall Street, having ended at fresh peaks Friday, though the Nasdaq ticked higher.
ABBA's Bjorn among 11,000 artists issuing AI warning
Thousands of artists including ABBA singer Bjorn Ulvaeus, Hollywood actress Julianne Moore and Nobel laureate Kazuo Ishiguro have signed a statement warning about the unlicensed use of artificial intelligence.
US regulator finalizes air taxi rules
US regulators on Tuesday finalized regulations for "powered lift" vehicles, opening the door for commercial air taxis. "The rule is the final piece in the puzzle for safely introducing these aircraft in the near term," the regulator said, adding that "the opportunities for the use of powered lift operations are far-reaching."
AFP
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