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Boeing cuts 2023 forecast for 737 deliveries as it reports loss
Boeing reported another hefty loss Wednesday as it trimmed its full-year forecast for deliveries of the 737 to address a manufacturing problem on the aircraft. The US aviation giant, which has struggled with manufacturing and quality control issues in recent years, reported a third-quarter loss of $1.6 billion,which translated into a bigger per-share hit than analysts estimated.
TikTok removed 4mn 'violative' videos in EU last month
TikTok said Wednesday it pulled four million "violative" videos in the EU in September, in its first transparency report since a new law against illegal and harmful content came into force across the bloc.
Heineken warns of slowdown in consumer demand
Dutch brewing giant Heineken said Wednesday that it sold less beer in the third quarter, noting that higher prices and the poor economic outlook was affecting consumer demand.
Kenya's central bank chief says currency overvalued
Kenya's central bank chief has said that the country's currency, currently trading at record lows, has been overvalued for several years. "I think for several years now we have had an overvalued exchange rate," Central Bank of Kenya governor Kamau Thugge told a parliamentary committee on Tuesday.
Some S.African miners return to surface after underground dispute
Some of the miners who stayed underground for more than two days in a standoff between rival South African labour unions began returning to the surface Wednesday, their representatives said. So, we couldn't allow workers to stay underground without food," he said.
Santander racks up another record quarter
Spanish lender Banco Santander announced Wednesday another record quarterly profit thanks to high interest rates and a growing customer base. The rise in global interest rates has been a boon for most banks, including Santander, as it has increased margins on their lending operations.
Israel-Hamas war already affecting regional economies: IMF head
The raging war between Israel and Hamas is already battering the economies of nearby countries, the managing director of the International Monetary Fund told a Saudi investor forum on Wednesday. Georgieva spoke one day after Wall Street titans told the forum that the war could deal a heavy blow to the global economy, especially if it draws in other countries.
Japan auto show returns, playing catchup on EVs
Tokyo's rebranded auto show returns this weekend just as China looks set to overtake Japan as the world's biggest car exporter after Toyota, Nissan and others got stuck in the electric vehicle slow lane. Just 1.7 percent of cars sold in Japan were electric in 2022, compared with around 15 percent in western Europe, 5.3 percent in the United States and nearly one in five in China.
Stocks lifted by China spending plan, oil down on Israel hope
Most markets rose Wednesday after China unveiled plans for $137 billion in extra debt to boost infrastructure spending, while oil extended losses on hopes Israel will scale back its plans for a Gaza ground invasion.
AFP
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