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Stellantis reports significant drop in first-half earnings due to weak U.S. sales
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Stellantis reports significant drop in first-half earnings due to weak U.S. sales

Related media - Latest news Stellantis, the multinational automaker behind brands including Jeep, Dodge and Chrysler, announced a 48% drop in net profit for the first half of 2024, mainly due to declining sales and production issues in the U.S. market. The company reported net income of €5.6 billion ($6.07 billion) in the first six months, down significantly from the same period in 2023. Adjusted operating income fell to €8.5 billion, down €5.7 billion, largely attributed to challenges in North America. Following the announcement, Stellantis shares in Milan fell 8.5%. CEO Carlos Tavares acknowledged the underperformance, citing a challenging industry landscape and internal operational challenges. He noted that many of the problems stemmed from U.S. operations, which were plagued by p...
Ford Reports Significant Revenue Drop Due to Warranty Issues
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Ford Reports Significant Revenue Drop Due to Warranty Issues

Related media - Latest news DETROIT — Ford Motor Company fell significantly short of Wall Street expectations for second-quarter earnings, despite beating revenue forecasts, as long-running warranty issues plague the automaker. Here's how the company performed against analyst estimates reviewed by LSEG: Earnings per share: 47 cents adjusted vs. 68 cents adjusted expected Automotive revenue: $44.81 billion vs. $44.02 billion forecast Ford shares are up about 15% this year as prices in the auto sector have remained more resilient than expected. However, as the industry-wide shift to electric vehicles proceeds more slowly than expected, the automaker has adjusted its production plans, focusing less on fully electric vehicles and more on hybrids. Most recently, Ford announced last week...
Alphabet Hits Revenue Goals But Fails to Match YouTube Ad Revenue
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Alphabet Hits Revenue Goals But Fails to Match YouTube Ad Revenue

More news - Breaking news Google parent company Alphabet reported its second-quarter results after the market closed on Tuesday, meeting analysts’ expectations for revenue and profit but falling short on YouTube advertising revenue. Following the announcement, Alphabet shares rose about 1% in after-hours trading. Here's how the company performed against analyst estimates reviewed by LSEG: Earnings: $1.89 per share vs. $1.84 per share expectedRevenue: $84.74 billion vs. $84.19 billion expectedAdditional key figures tracked by Wall Street: YouTube Ad Revenue: $8.66 Billion vs. $8.93 Billion, According to StreetAccountGoogle Cloud Revenue: $10.35 Billion vs. $10.20 Billion, According to StreetAccountTraffic Acquisition Cost (TAC): $13.39 billion vs. $13.54 billion according to StreetAcc...
Cigarette smuggling in Gaza affects humanitarian aid deliveries
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Cigarette smuggling in Gaza affects humanitarian aid deliveries

More news - News 24 hours In the heavily blockaded Gaza Strip, cigarettes have become a rare commodity, often selling for $25-30 each. Both U.N. and Israeli officials have reported that coordinated attacks by groups seeking to profit from these contraband cigarettes are severely hampering the transportation of essential aid into southern Gaza. Israeli authorities carefully monitor all goods entering and leaving Gaza through checkpoints under their control. Despite these efforts, cigarettes have managed to pass for weeks inside aid trucks, mainly through the Kerem Shalom crossing in southern Gaza. To evade Israeli controls, traffickers in Egypt hide cigarettes in sacks of flour, diapers and even watermelons donated by the United Nations, according to aid agencies and an Israe...
NATO unity faces challenges amid leadership uncertainty
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NATO unity faces challenges amid leadership uncertainty

Related media - Recent news As President Biden and his team prepared to celebrate NATO’s 75th anniversary, starting Tuesday night in Washington, the goal was to project unity and confidence. The intention was to send a clear message to Russian President Vladimir Putin and other adversaries that, despite more than two years of war in Ukraine, NATO had become stronger and more resolute in its mission to deter aggression. But as 38 world leaders began arriving on Monday, that confidence seemed to be wavering. Even before the summit officially began, doubts were raised about Biden’s potential for a second term and the specter of a possible return of former President Donald Trump. Trump, who once labeled NATO “obsolete,” has threatened to withdraw from the alliance and suggested he would ...
Political changes in France after early elections
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Political changes in France after early elections

More news - Latest news After Sunday's snap legislative elections in France, the nation faces a deadlocked parliament and significant political uncertainty. No major political factions, left, center or right, have won an outright majority. The left-wing New Popular Front emerged as the leading group with 178 seats. President Emmanuel Macron's centrist coalition followed with 150 seats, while Marine Le Pen's anti-immigration Rassemblement National party and its allies secured 142 seats. Contrary to expectations, the National Rally did not win a clear victory. A strategic move by centrists and leftists to form a "republican front" against the National Rally in the second round of voting proved effective. Candidates across France withdrew from three-way races to consolidate votes agains...