Porsche Warns of Supply Chain Problems Impacting BEV Production and Slower Growth
Porsche faces challenges in BEV production due to supply chain issues, impacting its growth in Europe and China while maintaining BEV sales target.
Day: July 26, 2023
Regal Partners Propose A$573.5 Million Buyout of Pacific Current Group
Regal Partners Ltd has offered a non-binding buyout proposal to acquire Australia’s Pacific Current Group at A$573.5 million ($388.1 million), providing shareholders with A$7.50 in cash per share and 2.2 shares of GQG Partners, which Regal manages.
NatWest CEO Alison Rose Resigns Amid Controversy Over Client Breach
NatWest’s CEO, Alison Rose, steps down after facing backlash for breaching client Nigel Farage’s confidence, despite her notable achievements in the banking sector.
Banc of California to Acquire PacWest Bancorp in All-Stock Deal, Shares Soar
PacWest Bancorp’s shares surge as Banc of California agrees to purchase the lender for $1.1 billion in an all-stock deal.
LVMH Shares Fall as Luxury Sector Growth Normalizes
LVMH’s in-line sales increase indicates a shift in luxury sector growth, leading to stock decline and questions about future earnings.
Rio Tinto Reports Lowest Underlying Earnings in Three Years and Cuts Dividend Amid Iron Ore Price Pressures
Rio Tinto reports lowest first-half earnings in three years due to easing iron ore prices, announces dividend cut. Cautiously optimistic about China’s economy.
U.S. Dollar Steady Near Two-Week High Ahead of Expected Fed Rate Hike
The U.S. dollar remains firm as investors await the Federal Reserve’s anticipated interest rate increase. Eurozone and Australian currencies face challenges amid economic slowdown concerns.
Bank of Japan to Maintain Accommodative Monetary Conditions, Yen Volatility Remains
BOJ Governor Kazuo Ueda stated that the central bank will continue its accommodative monetary policy for companies, while yen movements remain volatile.
Alphabet Surges on Strong Google Search and AI Performance, Beats Expectations
Alphabet’s shares rally nearly 7% as its dominant Google Search business performs well amid competition from Microsoft’s AI-powered Bing.
Rolls-Royce Raises Profit Forecast by 45% on Strong First Half Performance
Aero-engineer Rolls-Royce increases its full-year operating profit outlook by 45% after operational improvements and a rebound in long-haul flying.
