Business

Daimler Trucks spin-off to take place in December if shareholders vote in favour of split, CFO says

Daimler (DAIGn.DE)’s spinoff of its truck division Daimler Truck Holdings will take place in December, its CFO Harald Wilhelm said on Friday, speaking ahead of a shareholder’s vote on the split. The process, which was expected this year, would cost Daimler around 700 million euros, CEO Ola Kallenius said, adding that Daimler’s decision to retain […]

Business

BofA sees European stocks falling nearly 10% by year-end

BofA Global Reseach has cut its outlook for European stocks, predicting a decline of nearly 10% by year-end given a shift in the macro backdrop towards “anti-goldilocks”, where slowing growth is accompanied by higher discount rates. In a note received on Friday, BofA said it saw the STOXX 600 index falling to 420 points by […]

Business

Duty cut lifts India’s palm oil imports in Sept to a record 1.4 million T- dealers

India’s palm oil imports in September more than doubled from a year ago to a record 1.4 million tonnes as buyers increased purchases of refined palm oil ahead of key festivals and to take advantage of newly lowered duties, brokers and dealers said. Higher purchases by India, the world’s biggest buyer of vegetable oils, could […]

Business

Global equity funds see higher outflows on rate hike concerns

Outflows from global equity funds ramped up in the week to Sept. 29 on expectations that major central banks would lift interest rates soon amid concerns that inflation could persist for longer. According to data from Lipper, investors sold a net $1.21 billion in global equity funds in the week, compared with net selling of […]

Business

Global energy shortage or a coincidence of regional crises?

British gasoline stations running dry, surging power costs in the European Union ahead of winter, forced restrictions on energy use in China and rising oil, natural gas and coal prices. You could be forgiven for thinking the world had suddenly been hit by an energy shortage, but you would be mostly wrong. While the squeezes […]

Business

Canada factory activity sees strong growth despite supply shocks

Canadian manufacturing activity grew in September at a pace that was little changed from the prior month’s robust level, while global supply shocks helped to lift measures of inflation to record highs, data showed on Friday. The IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) dipped to a seasonally adjusted 57.0 in September from 57.2 […]