Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Aston Martin has trimmed its delivery forecasts for the year after production delays to its latest flagship sports car, leading to a wider than expected loss in the three months to September.The British carmaker said production of its DB12 had been hit by supplier issues and the integration of the car’s new infotainment system, meaning it now expects to sell 6,700 models this year, down from previous guidance of 7,000.“Given the slight delays in the initial production ramp up we have marginally…

© Reuters. FILE PHOTO: A sign is pictured outside a Google office near the company’s headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Paresh Dave/File Photo (Reuters) – Most global mega-cap stocks continued their slide in October, hit by the rise in U.S. interest rates and lacklustre third-quarter earnings growth among some top U.S. tech firms. Google parent Alphabet (NASDAQ:)’s market capitalization dropped nearly 6% to $1.56 trillion at the end of October, as its cloud business faced its slowest growth in 11 quarters, primarily due to reduced corporate spending on cloud-related services in response to the global economic…

3/3 © Reuters. FILE PHOTO: A view of the Toyota FT-3e elecric SUV concept vehicle during a press day of the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan October 25, 2023. REUTERS/Issei Kato/File Photo 2/3 By Daniel Leussink TOKYO (Reuters) -Toyota Motor more than doubled its second-quarter profit and sharply raised its full-year outlook on Wednesday, as a weaker yen currency bolstered the impact of robust global sales. The world’s top-selling automaker reported a record operating profit of 1.44 trillion yen ($9.5 billion) in the three months to end-September, a 155.6% increase from a year earlier.…

Tippapatt/iStock via Getty Images Baidu (NASDAQ:BIDU) has launched a paid version of its generative artificial intelligence chat product Ernie Bot, Reuters reported. The Chinese tech giant is charging 59.9 yuan ($8.18) per month for the ChatGPT-like product, the report added. In October, the company launched Ernie 4.0, a potential rival to Microsoft (MSFT)-backed OpenAI’s GPT-4 model. Baidu (BIDU) was among the first list of Chinese companies — which included startups Zhipu and Baichuan — to win approval from China’s internet watchdog at the end of August for AI services to be released for public. Generative AI services have become the…

© Reuters. The Reserve Bank of India (RBI) is facing challenges in managing the volatility of the rupee due to a continuous decline in forex reserves, which fell by $2.36 billion to $583.53 billion for the week ending October 20th. This decrease occurred despite a $1.15 billion increase in the preceding week, and follows a five-month low during the week ended October 6th. On Wednesday, the rupee was trading at 83.27 against the US dollar in the pre-noon session, down from 83.25 in the previous session. The RBI has been intervening in the forex market to prevent the rupee from…

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Auto insurance costs are surging. There’s ways that you can save.getty Auto insurance rates have been rising recently, substantially outpacing inflation overall. US Department of Labor data shows the widely-adopted measure of inflation, the Consumer Price Index for All Urban Consumers, is 3.7% higher than it was a year ago. Meanwhile, the price index for motor vehicle insurance is 18.9% higher over this same period. Key contributors to auto insurance price increases are the higher costs of motor vehicle repairs and maintenance, as well as more frequent accidents and increased litigation. While consumers cannot fully control their premiums because of…

It is tax shelter season again.getty Most folks think of tax season being that period shortly before April 15 and ending on that date. Actually, that is tax return season. The true tax season usually begins on October 15 of each year after the late individual returns are filed. This is when folks who are looking to have a financially good year start thinking about reducing the taxes they will have to pay in April. Tax professionals will start meeting with clients to talk about their businesses and how things are looking for the end of the year. Most of…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The world’s largest offshore wind developer Ørsted has abandoned two key US projects and announced a higher than expected writedown of its portfolio, sending shares in the group down more than 20 per cent.The Danish group booked impairments of DKr28.4bn ($4bn), saying it had “no choice” but to stop developing its Ocean Wind 1 and 2 projects off the coast of New Jersey. The decision, which the company blamed on supply chain delays, higher interest rates and changes to its assumptions around…

© Reuters. Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) – The Bank of Japan may prefer to go slow in ending ultra-low interest rates, but the weak yen and risks of an inflation overshoot could prod it to act before year-end, former central bank official Hiromi Yamaoka told Reuters on Wednesday. Under pressure to phase out years of massive monetary stimulus amid rising inflation, the BOJ on Tuesday loosened its grip on long-term interest rates by tweaking its…