Business

The standoff comes during an already challenging year for Boeing, which became the focus of multiple federal investigations after a door panel blew off a 737 Max plane during an Alaska Airlines flight in January. ADVERTISEMENT Boeing factory workers have voted against the company’s latest contract offer and remain on the picket lines six weeks into a strike that has stopped …

Tesla shares soar following better-than-expected third-quarter earnings as its electric car sales returned to growth, while the Cybertruck achieved profitability for the first time. ADVERTISEMENT Tesla reported third-quarter earnings that surpassed analysts’ expectations, sending its shares up more than 12% in after-hours trading. CEO Elon Musk expects that its core business, automotive deliveries, will return to growth after declining in …

Mercedes is opening its own battery recycling plant in southern Germany, in an attempt to recover raw materials such as nickel, cobalt and lithium. ADVERTISEMENT Mercedes-Benz has opened Europe’s first battery recycling plant using an integrated mechanical-hydrometallurgical process. The factory will be located at Kuppenheim in south Germany and is expected to have a recovery rate of more than 96%, …

The latest incident comes as Boeing awaits the results of vote by striking workers and is expected to report a big loss in results for its third quarter. ADVERTISEMENT Beleaguered Boeing is facing another dent in its reputation following the breaking up in orbit of a communications satellite it designed and built. Satellite operator Intelsat confirmed the “total loss” of …

The Euro extended its losses against other major currencies within the G-10 group, with the EUR/USD pair dropping below the pivotal 1.08 level on Tuesday. The single currency may remain weak for some time. ADVERTISEMENT The Euro continued its decline against other major currencies following the IMF’s downgrade of the eurozone’s economic growth outlook. Over the past month, the single …

EU new car registrations in September were mainly dampened by poor figures from France, Italy and Germany. Once again, Spain bucked the trend. ADVERTISEMENT New car registrations within the European Union fell -6.1% in September mainly dragged down by Italy, France and Germany, according to the most recent data from the Association of European Automobile Manufacturers (ACEA). Italy faced a …

The IMF warns of widening US-Europe growth divergences, calling for increased public investment in Europe. While US growth forecasts have been upgraded, the eurozone faces downgrades, with key economies like Germany and Italy struggling to keep pace. ADVERTISEMENT The economic growth gap between the United States and Europe is expected to increase, the International Monetary Fund (IMF) has warned, calling for …

The producer of the Paddington Bear franchise Canal+, the pay-TV broadcaster owned by French media company Vivendi, is planning to list on the London Stock Exchange. ADVERTISEMENT Canal+, owned by the French media company Vivendi, is reportedly aiming for a London Stock Exchange (LSE) valuation of up to £6.7bn (€8.04bn). If so, this could be one of the biggest listings …

As part of the re-organisation, HSBC also announced the first-ever female finance chief in the bank’s 159-year history. Pam Kau, currently the chief risk and compliance officer, has worked for the bank for more than a decade. ADVERTISEMENT HSBC’s new chief executive officer (CEO), Georges Elhedery, has announced a major overhaul of the bank’s structure, splitting geographically into eastern and …

Amid rising tensions in the Middle East and the threat of Israeli retaliation, Iranians are scrambling to protect their wealth by investing in gold. ADVERTISEMENT The surge in demand for gold has driven up coin prices to as much as 30% above their intrinsic value with a number of factors contributing to the inflated gold coin price bubble within the …