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Rubio plans Israel trip as Trump says he's ‘not happy' with US-Iran talks Al JazeeraMarco Rubio orders US officials to stop commentary that could strain Iran talks The GuardianSecretary Rubio's Travel to Israel U.S. Department of State (.gov)Rubio to visit Israel as US Embassy authorizes staff to leave ahead of potential Iran strike Politico
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Trump suggests US could carry out ‘friendly takeover' of Cuba The GuardianTrump raises prospect of 'friendly takeover' of Cuba, says Rubio in talks ReutersRegime Change in Cuba Appeals to Trump but Carries Risks The New York TimesTrump suggests a ‘friendly takeover' of Cuba amid US fuel blockade Al Jazeera
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Marco Rubio orders US officials to stop commentary that could strain Iran talks The GuardianRubio plans Israel trip as Trump says he's ‘not happy' with US-Iran talks Al JazeeraRubio to travel to Israel to discuss Iran, other issues, State Dept. says CNBCRubio to visit Israel as US Embassy authorizes staff to leave ahead of potential Iran strike Politi
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Victory Capital says it's mounted a bid for Janus Henderson that's 16% higher than the $7.4 billion bid from Trian Fund Management the fund manager already agreed.
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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
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