|
Bitcoin rebounded from a dramatic selloff on Thursday, with investors hoping the worst might be over.
|
RELATED ARTICLES | | |
|
The Nasdaq Composite is on pace for its worst week since November despite Friday's rebound.
|
RELATED ARTICLES | | |
|
Toyota Names Kenta Kon C.E.O. as Automaker Faces Tariffs and Increasing Competition The New York TimesToyota names former secretary of chairman Toyoda as next CEO ReutersToyota promotes finance chief Kenta Kon as CEO in second leadership change in 3 years CNBCToyota Motor Appoints CFO Kenta Kon as New CEO bloomberg.com
|
|
2026 NBA Trade Deadline Winners, Losers: analysis, recap including James Harden, Anthony Davis deals NBC SportsNBA trade deadline: Execs, scouts on the aftermath of a wild week ESPNTrade Deadline Winners and Losers The Ringer2026 NBA trade deadline winners and losers: Bucks, Cavs, Wizards top list - The Athletic The New York Times
|
|
The automaker announced $26 billion in charges from a business restructuring that includes pulling back on electrification plans and reintroducing V8 engines.
|
|
The European Union on Friday accused TikTok of breaching the bloc's digital rules with "addictive design" features including autoplay and infinite scroll, in preliminary charges that strike at the heart of the popular video sharing app's operating model.
|
|
Contemporary Amperex Technology Co. Ltd. reported quarterly net income well short of analyst estimates as the global slowdown in electric vehicle sales starts to bite.
While net income for the third quarter ended Sept. 30 rose 26 percent to 13.1 billion yuan ($1.8 billion) versus the same period last year, that was a lot lower than the 14.7 billion yuan expected. Revenue shrank 12.5 percent to 92.3 billion yuan year-on-year, sharply down on projections for 118.4 billion yuan.
The world's largest maker of EV batteries is being hit as automakers from General Motors to Ford begin to scale back EV production plans and delay model launches. Countries like Japan and Germany, home to some of the largest automotive incumbents, have seen not just a slowdown in the growth rate, but an outright decline in EV sales.
CATL supplies many big name carmakers, including Tesla Inc.
Although the Chinese giant dwarfs competitors, it isn't alone in feeling the pain. The world's third largest battery maker, South Korea's LG Energy Solution Ltd., is likely to suffer its third consecutive quarterly profit decline, its most recent preliminary earnings show.
For the January to August period, CATL's global market share stood at 37.1 percent, up 1.6 percentage points on the same period of last year, data from SNE Research show. LG Energy's market share shrunk 2.3 percentage points to 12.1 percent.
CATL's greater control over its supply chain does at least wring more profit from its suppliers, helping to drive down costs. Bloomberg Intelligence has suggested that more global EV makers adopting cheaper lithium-iron-phosphate (LFP) batteries could help CATL gain market share overseas. The company's energy-storage business is also emergin
|
|
