BERLIN — BMW lifted its annual outlook for its margin on earnings before interest and taxes (EBIT) in the automotive segment but said it foresaw ongoing challenges from supply chain issues and inflation in the second half.
BMW said it now expects an EBIT margin on its cars division of between 9 percent and 10.5 percent from 8 percent and 10 percent previously, and expects solid growth in its deliveries, up from a previous forecast of only slight growth.
The
Aston Martin plans to raise £210 million ($270 million) by selling new shares as the British luxury-car maker looks to pay back high-interest debt and raise funds for its electrification strategy.
Major shareholders including Chairman Lawrence Stroll’s Yew Tree consortium, Saudi Arabia’s Public Investment Fund, Geely International and Mercedes-Benz Group have agreed to subscribe to around £115 million of the placement, Aston Martin said Monday. The remaining stock will be made available to institutional investors.
“The share offering will allow
Met Office weather forecasters have warned “heavy and thundery showers” will dominate during the first few days of August as Atlantic mobility unsettles conditions over the UK.
The agency has released its latest predictions for the week ahead, covering up to Sunday, August 6, during which time people may experience some flooding.
While Tuesday, August 1, will bring some welcome change compared to previous weeks, the forecasters said, a wet pattern will quickly re-establish itself.
A low-pressure system will cross
After Russia invaded Ukraine, Anna Gromova, a Russian entrepreneur, made a snap decision to open a real estate agency, hoping to create a safety net from the economic fallout of the conflict. The career change has paid off.
Within weeks, she landed a deal for a stately 18th-century apartment, with parquet floors and high ceilings in the prestigious center of Russia’s former imperial capital of St. Petersburg. Since the war, the owner had stopped coming to Russia, allowing her client
The two-year fixed-rate Cash E-ISA from Virgin Money is one of the few savings accounts to be higher than the current base rate.
As it is only available for a limited period of time, the savings product has a notice period which finishes on August 24, 2025.
It has a minimum operating balance of £1 and a maximum balance which is the ISA allowance, currently £20,000.
Accessing to the savings account is permitted but savers will be subject to a
A federal court ruling this week that threatens to shut down the Biden administration’s cornerstone of its post-Title 42 border strategy is raising new fears from both DHS officials and critics that it may spark a new surge at the southern border just as numbers have started to drop.
Judge Jon S. Tigar of the U.S. District Court for the Northern District of California blocked the Circumvention of Lawful Pathways rule Tuesday in response to a lawsuit from a coalition
Ford now expects its EV unit to lose $4.5 billion, 50 percent more than it previously forecast, citing “the pricing environment, disciplined investments in new products and capacity, and other costs.”
Additionally, Ford on Thursday delayed some of its planned EV production goals. It now expects to hit a 600,000 EV production run-rate some time in 2024; it previously planned to do so by the end of this year. And Ford no longer is forecasting when it plans to hit
Forvia raised its annual sales and margin forecasts, saying it expected global automotive production to grow faster than previously anticipated.
The supplier sees 2023 sales of 26.5-27.5 billion euros ($29.4-30.5 billion), up from the previous outlook of 25.2-26.2 billion euros, and an operating margin of between 5.2 percent and 6.2 percent of sales, versus 5 percent to 6 percent before.
A trader said the guidance upgrade was “not very impressive” in light of the higher production estimate. “Positioning is long,
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The European Central Bank raised interest rates for a ninth consecutive time on Thursday in its mission to rein in inflation but kept its options open about future decisions amid weakness in the region’s economy.
In a well-telegraphed move, policymakers raised rates for the 20 countries that use the euro currency by a quarter percentage point, pushing the deposit rate up to 3.75 percent, the highest since late 2000.
“Inflation continues to decline but is still expected to remain too
