China’s industrial earnings fell for a second straight month, with authorities set to intensify their drive to rein in excessive competition that’s dragging down prices and compounding the pain from US tariffs. Industrial profits dropped 4.3% last month from a year earlier, after a contraction of 9.1% in May, according to data released Sunday by…
European officials are working to secure a trade deal with the Trump administration, as regional companies sound the alarm over financial hits even before reciprocal tariffs have come into play. Earlier this month , U.S. President Donald Trump said he would slap a 30% tariff on all goods imported to America from the European Union,…
Michelin income drops A view of tyre maker Michelin’s plant in Cholet, France, November 8, 2024. REUTERS/Stephane Mahe Stephane Mahe | Reuters Michelin posted a 27.8% slide in net income in the first half of the year, a sharper decline than analysts had expected. The car parts maker said the threat of higher tariffs had…
LVMH’s fashion and leather goods sales fell 9 percent in the second quarter, just missing analyst estimates as the Louis Vuitton and Dior owner struggles to bounce back from a deepening industry slump. Group sales fell 4 percent, following a 3 percent slide the previous quarter. Sales improved in the retail division powered by Sephora,…
Elon Musk, CEO of SpaceX and Tesla, attends the Viva Technology conference at the Porte de Versailles exhibition center in Paris on June 16, 2023. Gonzalo Fuentes | Reuters Tesla reported a 16% decline in automotive revenue as sales fell for a second straight quarter and again trailed analysts’ estimates. Here’s how the company did,…
NEW YORK (AP) — The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits dropped sharply again in the latest quarter. The car company that has faced boycotts for months said Wednesday that revenue dropped 12% and profits slumped 16% in the three…
Mark Zuckerberg, CEO of Meta Platforms Inc.; from left, Lauren Sanchez; Jeff Bezos, founder of Amazon.com Inc.; Sundar Pichai, CEO of Alphabet Inc.; and Elon Musk, CEO of Tesla Inc., during the 60th presidential inauguration in the rotunda of the U.S. Capitol in Washington, D.C., on Jan. 20, 2025. Julia Demaree Nikhinson | Bloomberg |…
The S&P 500 Index shuffled between gains and losses on Tuesday, as investors pored over corporate earnings and awaited results from two of the mega-cap stocks that helped propelled this year’s rebound in equities. The stock benchmark was little changed as of 2:23 p.m. in New York after notching a new all-time high in the…
Wall Street dipped in premarket trading Tuesday, but indexes remained near record highs on another big day for corporate earnings reports. Futures for the S&P 500 lost 0.1% before the bell, while futures for the Dow Jones Industrial Average and Nasdaq were each off 0.2%. Homebuilders were the early winners, with D.R. Horton climbing nearly…
This photograph shows the front logo of a car at the new Citroen C5 Aircross’ production line in the Stellantis car maker plant in Chartres-de-Bretagne, near Rennes, western France, on July 3, 2025. Damien Meyer | Afp | Getty Images U.S. President Donald Trump‘s tariffs on European car imports were always expected to hit hard…