BLOOMBERG Levi Strauss & Co reported quarterly revenue that missed expectations as performance at retailers including department stores dragged down results, leading the company to cut its full-year sales outlook. The denim brand is taking a more “cautious approach” to its projections for the current quarter, according to a statement. It now expects full-year earnings per share, excluding some items, ...

BLOOMBERG Italy began the process of selling Banca Monte dei Paschi di Siena SpA by hiring advisers as Prime Minister Giorgia Meloni seeks to maximise the value of the state’s controlling stake. The Finance Ministry will select legal and financial advisers to help in the sale, the ministry said in a statement. The disposal can be done in one or ...

BLOOMBERG BYD Co is poised to overtake Tesla Inc as the world’s biggest seller of electric vehicles as the Chinese automaker’s global sales push gains greater traction. China’s best-selling car brand came within a whisker of toppling Tesla last quarter after factory downtime led to the US automaker’s first delivery decline in more than a year. BYD sold 431,603 fully-electric ...

BLOOMBERG Tesla Inc reintroduced a Model Y crossover sport utility vehicle (SUV) with rear wheel drive in the US, after reporting third quarter deliveries that fell short of Wall Street expectations. The starting price of the rear-wheel drive Model Y is now $43,990, according to Tesla’s website, and have a stated range of 242-260 miles. The electric vehicles likely use ...

BLOOMBERG Tesla shipped 435,059 cars globally in the third quarter, as factory downtime led to its first quarterly delivery decline in more than a year. The results missed expectations. Several Wall Street analysts had slashed their delivery estimates in recent days, and the consensus compiled by Bloomberg fell to 456,722. Tesla delivered 466,140 cars in the second quarter. The electric-vehicle ...

BLOOMBERG The European Union (EU) has formally launched an anti-subsidies probe into electric vehicles (EV) manufactured in China, setting in motion a one-year investigation that could see provisional measures such as countervailing duties imposed in the next nine months. The probe, which was announced by European Commission President Ursula von der Leyen in September, will focus on new battery-powered electric ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Friday met with US Senator Joni Ernst of Iowa to discuss ways to further solidify the strategic alliance between the two nations in various fields. During the meeting at Qasr Al Shati, the two sides exchanged views on a number of regional and international developments ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB), UAE’s largest bank and one of the world’s largest and strongest financial institutions, successfully issued its inaugural USD Tier 2 capital securities on Tuesday, September 26,2023. The USD 1 billion 10.5NC5.5-Year Tier 2 Bond is the largest-ever Tier 2 issuance from a UAE bank and the largest-ever Tier 2 conventional bond ...

ABU DHABI / WAM The UAE as a geographical and business hub will help the proposed ‘food security corridor project in India under the I2U2 framework’ control global food prices, Piyush Goyal, Indian Minister of Commerce and Industry; Consumer Affairs, Food, Public Distribution and Textiles, told the Emirates News Agency (WAM). “The UAE as a trading hub can cater to ...

ABU DHABI / WAM Senator Lisa Cummins, Minister of Energy and Business Development of Barbados, said that the UAE has pioneering initiatives and innovative strategies to achieve climate neutrality, wishing the UAE success in hosting COP28, given the country’s distinguished record in adopting renewable and clean energy solutions worldwide. In a statement to the Emirates News Agency (WAM), Cummins praised ...