Volvo shares jump 26% on higher sales, plans to stop Polestar funding
Volvo Cars shares surged more than 26% on Thursday after the Swedish automaker announced that it will stop funding subsidiary Polestar Automotive.
Japanese bank tanks over 20% after flagging losses tied to U.S. commercial property
The Japanese lender said it now expects a net loss of 28 billion yen for the fiscal year ending March 31, after previously forecasting a net profit of 24 billion yen.
EU agrees $54 billion aid package for Kyiv; Orban says Hungary’s funds excluded from deal
Ukraine’s army chief Valeriy Zaluzhnyi is expected be dismissed from his post by the end of the week, CNN reported Wednesday.
Oil giant Shell posts full-year profit beat, announces $3.5 billion share buyback
Shell reported adjusted earnings of $28.25 billion for the full-year 2023, a 29% drop compared to its highest-ever annual profit the year prior.
CNBC Daily Open: Hopes sink for March rate cuts
Well, at least the Fed made one thing abundantly clear today. That rate cuts aren’t coming that soon.
Elon Musk says Tesla will hold a shareholder vote to incorporate in Texas after Delaware pay snub
Musk’s X post comes after a judge in Delaware, where Tesla is currently incorporated, voided the $56 billion pay package granted to the billionaire in 2018.
Deutsche Bank smashes profit estimates and boosts shareholder returns
Deutsche Bank smashed fourth-quarter earnings expectations, reporting a net profit of 1.3 billion euros ($1.4 billion).
India expects fiscal deficit for 2025 to narrow to 5.1% even as it boosts infra spending
India’s finance ministry presented the country’s interim budget for 2024, ahead of the highly anticipated general elections.
Singapore tourist arrivals double in 2023 amid global travel recovery
The city state recorded 13.6 million international visitor arrivals in 2023, while tourism receipts are expected to soar to SG$24.5-26 billion
U.S. companies say it’s harder to make money in China now than before the pandemic
More U.S. companies are finding it harder to make a profit in China than before the pandemic, according to surveys by the American Chamber of Commerce in China.
