BMW AG is recalling nearly 700,000 vehicles in China due to defects in the coolant pump. This is a new setback for the German carmaker, which is already dealing with other vehicle faults.
Shares of Lamb Weston Holdings Inc. jumped on Friday after activist investor Jana Partners revealed it has acquired a 5% stake in the company. Jana Partners is urging Lamb Weston to consider strategic alternatives.
Emerging-market currencies strengthened on Friday as investors showed increased risk appetite. This shift came as the US dollar and US yields declined, boosting confidence in foreign-exchange markets.
SLB, the world's largest oilfield services provider, has reported a slowdown in spending growth from oil explorers. This cautious approach comes as crude prices remain low, prompting companies to rethink their investment strategies.
Last week, Tesla Inc. unveiled its highly anticipated self-driving car, but the event failed to impress investors. As a result, shares plummeted, raising concerns on Wall Street about the company’s premium valuation.
European equities rose today as China announced measures to boost its markets, lifting shares in mining, automotive, and luxury goods sectors. This positive momentum provided a welcome lift despite some disappointing earnings reports from companies. Investors are feeling more optimistic as a result.
Online lender K Bank Co. has pulled its $700 million initial public offering in Seoul. The decision comes amid worries about its high valuation and reliance on a cryptocurrency operator for funding.
Italy's car industry is facing a critical situation. The automotive trade group warns that if manufacturers, particularly Stellantis NV, don’t turn around the trend of declining production in the country, the industry could face an existential threat. Without significant changes, the future of car manufacturing in Italy looks uncertain.
Chinese stocks gained ground in the afternoon as President Xi Jinping highlighted the importance of technology development. His comments, along with various central bank statements, boosted confidence in ongoing policy support.
Some of Japan's biggest financial institutions have stopped trading securities with Nomura Holdings Inc. This comes in the wake of a market manipulation scandal, according to sources close to the situation.
