By Nora Eckert DETROIT (Reuters) – General Motors (NYSE:) will seek to soothe shareholders’ worries on Tuesday that lagging demand for electric vehicles and perceived peak demand for gasoline-powered trucks will create a rough road ahead for the automaker. CEO Mary Barra and her executive team will emphasize at investor day in Spring Hill, Tennessee, that profit margins have not peaked on traditional internal combustion engine (ICE) powered vehicles, and its EV sales are ramping up, sources previously said. Investors are also expecting more details on the automaker’s restructuring in China, as well as updates around its Cruise autonomous vehicle…
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Image source: Getty Images As a long-term investor who likes to buy into in world-class businesses, I tend to steer clear of really cheap FTSE 100 stocks. Twenty years of investing in the stock market has taught me that cheap stocks are often cheap for a reason. Recently though, I spotted a Footsie stock with a very low valuation and I decided to snap it up for my ISA. Here’s a look at the stock and why I bought it. The stock’s JD Sports Fashion (LSE: JD.), the athletic footwear and sportswear retailer that has over 4,000 stores worldwide. I’ve…
By Supantha Mukherjee STOCKHOLM (Reuters) -Social media users in the European Union will be able to make complaints against Facebook, ByteDance’s TikTok and Alphabet (NASDAQ:)’s YouTube over content moderation to a new independent body set up in Ireland. The body, supported by Meta Platforms (NASDAQ:)’ Oversight Board Trust and certified by Ireland’s media regulator, will act as an out-of-court dispute settlement body under the EU Digital Services Act (DSA). Until now, individuals and organisations using social media have had limited options to challenge the content decisions of social media companies without going to court. Appeals Centre Europe will start before…
The clearing and settlement of equity trades may not sound like the most exciting subject, but it is an important one. And this year something big is happening. The US equity market is moving to a shorter settlement cycle. Beginning May 28, trades in US stocks will settle the day after the trade date (T+1). Currently, the settlement cycle is two days after the trade date (T+2). Trades in US corporate bonds and unit investment trusts will also move to the shorter cycle, as will the national equity markets of Canada and Mexico. This will place the US equity market…
A construction site in the Fangshan district of Beijing in 2013.Tomohiro Ohsumi | Bloomberg | Getty ImagesChina’s economic growth rate is expected to decline further in 2025 despite a temporary boost from recent stimulus measures, according to the World Bank. The international lender estimated that China’s growth rate would drop to 4.3% next year, down from a projected 4.8% in 2024, in an economic update on Tuesday. The 2024 figure is up 0.3% from the bank’s forecast in April and comes after Beijing rolled out a recent raft of stimulus measures, boosting investor confidence and prompting a stock market rally, which has…
Four weeks from today, on Nov. 5, voters will determine which direction our great country takes over the next four years.Although not every bill that comes out of Washington, D.C., has bearing on the stock market, the economic proposals that are, ultimately, put into place by the incoming president and Congress will help shape the landscape for corporate America in the coming years.Kamala Harris delivering remarks. Image source: Official White House Photo by Adam Schultz.Current vice president and Democratic Party presidential nominee Kamala Harris has proposed sweeping changes designed to lower food and drug costs, expand a variety of tax…
Image source: Getty Images Looking back 12 months, Rentokil (LSE:RTO) has the dubious honour of being the worst performing stock on the FTSE 100. Since 8 October 2023, its share price has fallen 39%. Much of the damage was done on 11 September, when the pest control, hygiene and wellbeing group issued a trading update to investors. Blaming problems in North America, it issued a warning that adjusted pre-tax profits for the year ending 31 December (FY24) would be around £700m. This is lower than the £766m reported in FY23. It’s the third time in a year the company’s reported…
On Tuesday, Citi updated its financial outlook on Wartsila Oyj Abp (WRT1V:FH) (OTC: WRTBY) shares, raising the price target to EUR20.50 from the previous EUR17.50. The firm maintained a Neutral rating on the stock. The adjustment comes ahead of the company’s third-quarter earnings report, which is scheduled for release on October 29, 2024. The analyst at Citi indicated that the consensus for Wartsila’s third-quarter group orders appears satisfactory, but there are concerns that revenue expectations might be slightly overestimated. The firm highlighted ongoing challenges in the Energy sector, including price deflation and increased competition in the Storage market, as well…
Despite a 34% increase from its 12-month traded low of £2.68, Tesco’s (LSE: TSCO) share price still looks very undervalued to me. On the key price-to-earnings ratio (P/E) stock valuation measurement it currently trades at 13. This is second from bottom of its publicly-traded peer group, which has an average P/E of 23.8. The number is slightly skewed by J Sainsbury’s leading P/E of 49.5. However, only factoring in the other three – Marks and Spencer (at 17.3), Koninklijke Ahold Delhaize (16.5), and Carrefour (12) — gives an average of 15.3. This still leaves Tesco looking cheap. To ascertain how cheap…
BEIJING, Oct. 8, 2024 /PRNewswire/ — Baidu (NASDAQ:), Inc. (“Baidu” or the “Company”) (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), a leading AI company with strong Internet foundation, today announced certain management rotation. Mr. Rong Luo will be serving as Executive Vice President in charge of the Baidu Mobile Ecosystem Group (MEG), and no longer serve as Chief Financial Officer, effective immediately. Concurrently, Mr. Junjie He has been appointed as the Interim Chief Financial Officer of the Company, transitioning from his current position as Senior Vice President and Head of the Baidu Mobile Ecosystem Group (MEG). This…