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Tesla reports drop in auto sales, while Toyota sees US surge
Tesla reported sharply lower first-quarter auto sales on Tuesday amid an underwhelming demand outlook for electric vehicles, while legacy players including Toyota rode improved US inventories to higher sales. At Toyota, US auto sales for the quarter jumped 20.3 percent to 565,098.
World Bank estimates damage to Gaza critical infrastructure at $18.5 bn
The World Bank says the Israel-Hamas war has caused damage of around $18.5 billion to Gaza's critical infrastructure, according to a new report published Tuesday.
US Fed official predicts higher long-term interest rates
A senior Federal Reserve official confirmed Tuesday that she recently raised her prediction for interest rates over the longer term due to the enduring strength of the US economy.
Kyrgyzstan to stop accepting Russian payment cards
Kyrgyzstan will stop accepting Russia's Mir payment cards amid concerns it could expose the country's financial sector to Western sanctions, the national payments operator said Tuesday. It cited the US Treasury's decision to sanction the Russia's National Card Payment System, the Mir operator, in February.
Heathrow exec appointed new head of Britain's Royal Mail
Logistics and mail group International Distributions Services on Tuesday said it had appointed Emma Gilthorpe as chief executive of its subsidiary Royal Mail. Gilthorpe will join the embattled British postal operator on May 1, working with group chief executive Martin Seidenberg before taking over fully later in the summer months.
Tesla Q1 auto deliveries fall 8.5 pct, shares drop sharply
Tesla reported an 8.5 percent drop in first-quarter auto deliveries, missing estimates from leading analysts and weighing on shares. Elon Musk's auto giant reported 386,810 deliveries over the period, reflecting in part a weak sales market in China, where it faces heavy competition from local electric vehicle (EV) makers.
Superdry shares plummet as CEO rules out takeover
Shares in troubled British clothing brand Superdry dived Tuesday after its chief executive ruled out a takeover of the troubled company. However, shares tumbled more than 50 percent to 14.14 pence in London afternoon deals on Tuesday after Dunkerton indicated he had decided against such a move.
Trial over $1.8 bn fraud at Malaysia's 1MDB opens in Switzerland
Two men accused of embezzling $1.8 billion from the Malaysian sovereign wealth fund 1MDB went on trial in Switzerland on Tuesday, the latest hearings stemming from the vast multibillion-dollar financial scandal.
Indonesia buys two submarines from France's Naval Group
Indonesia has ordered two Scorpene-class attack submarines from France's Naval Group as part of a defence cooperation agreement signed with Paris in 2021, the company said Tuesday. Under the 2021 agreement with France, Indonesia has also placed an order for 42 Rafale fighter jets worth a total of $8.1 billion.
AFP
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