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Toyota ups North Carolina EV plant investment by $8 bn
Toyota will significantly expand an electric battery plant in North Carolina, ramping up a bet on zero-emission vehicles in the United States, the automaker announced Tuesday. Under the expanded plan, the Toyota plant will have eight additional battery production lines added to the two previously announced.
Biden approves largest offshore wind project in US history
President Joe Biden's administration on Tuesday approved a plan to build the United States' largest ever offshore wind farm, which would power hundreds of thousands of homes with clean energy.
UK govt backs down over plans to shut rail ticket offices
The UK government has scrapped controversial plans to close almost all railway station ticket offices in England, following fierce criticism from disabled campaign groups, unions and passenger watchdogs. As well as groups representing disabled people, the move to retain ticket offices will likely also play well with many core older Conservative voters.
France arrests Russian tycoon in tax, sanctions probe
French police have arrested Russian billionaire Alexei Kuzmichev, one of the co-founders of the Alfa Group and who is targeted by EU sanctions, on suspicion of tax fraud and violating sanctions, sources close to the case said. Kuzmichev has launched an appeal to get the EU sanctions against him lifted, a source close to the case said.
Prada sees slowing sales growth in third quarter
Prada saw its sales growth decelerate during the third quarter but the Italian luxury group said Tuesday sales for the year were still solidly higher thanks to strong performances in Asia and Europe, its top markets. Luxury groups have recently seen growth slow, in part due to China's weak economy.
US Fed poised to keep rates unchanged as it opens key meeting
The US central bank opened a key policy meeting Tuesday, with officials widely expected to hold interest rates at a 22-year-high as they balance efforts to lower inflation while staving off a recession. With financial conditions tightening, analysts expect the Fed can continue holding rates steady.
Caterpillar earnings boosted by North American strength
Caterpillar reported higher profits Tuesday behind strong pricing trends, especially in its home North America market, which led revenue growth. Umpleby told Wall Street analysts the company expects "continued weakness" in China where construction activity is well below the long-term growth trends.
Pfizer reports loss as Covid-19 revenues shrink
Pfizer reported Tuesday a loss following a sharp fall in the sales of its Covid-19 vaccine and therapeutic from pandemic peaks. Results were dented by a $5.6 billion inventory write-down in Covid-19 therapeutic Paxlovid and vaccine Comirnaty.
AB InBev profit higher despite Bud Light sales plunge
AB InBev, the world's top brewer, said Tuesday sales and net profits edged higher in the third quarter despite a drop in sales volume, in particular in the United States where Bud Light has been boycotted by conservative figures. But sales volumes in the United States plunged by a fifth in the third quarter, "primarily due to the volume decline of Bud Light", the brewer said.
AFP
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