A Renault Espace E-Tech full Hybrid (L) and a Megane E-Tech 100% Electric EV (C) are displayed during the Geneva Motor Show 2024 at Palexpo on Feb. 26, 2024 in Geneva, Switzerland. John Keeble | Getty Images News | Getty ImagesShares of French carmaker Renault plunged as much as 17% on Wednesday after the company lowered its 2025 guidance and announced the appointment of a new interim chief executive officer.The Paris-listed stock was last seen trading down 15.6%, notching a fresh 52-week low. It puts the company on track for its worst trading day since March 2020.In a trading update published…
Author: usaeverydaylife
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Shoppers walking past a Cartier store at the high-end shopping district of Ginza in Tokyo, Japan.Anadolu | Getty ImagesA currency-fueled spending splurge in the key Japanese luxury market has finally abated, weighing on sales at Cartier-owner Richemont.The Swiss luxury group’s Japan sales declined 15% year-on-year at constant exchange rates in the fiscal first quarter, it said Wednesday in its fiscal first-quarter sales report.It follows a 59% jump in revenues in the same quarter last year, as a weaker yen sparked a surge in international tourism and luxury spend.Shares were up 0.6% by 8:35 a.m. London time. The Japanese yen began steadily…
The Hong Kong Stock Exchange said that for the first time, six gongs filled its main hall on July 9, 2025, as 5 companies and an ETF marked their listings.Bloomberg | Bloomberg | Getty ImagesThis report is from this week’s CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can subscribe here.The big storyThere’s a murmur of excitement in China’s venture capital…
Chip giant ASML says it can’t confirm that it will grow in 2026ASML reported second-quarter earnings that beat estimates with the its key net bookings figure ahead of consensus.However, the chip equipment giant missed analyst expectations for revenue guidance in the current quarter and warned of the possibility of no growth ahead.Here’s how ASML did versus LSEG consensus estimates for the second quarter:Net sales: 7.7 billion euros ($8.95 billion) versus 7.52 billion euros expectedNet profit: 2.29 billion euros vs 2.04 billion euros expectedRead the full story here.— Arjun KharpalGood morning, here are the opening callsHouses in South London in February 2025.Dan Kitwood |…
A one pound price label in bowls of produce on a grocery stall at East Street Market in London, UK, in spring 2024.Bloomberg | Bloomberg | Getty ImagesThe U.K.’s annual inflation rate hit a hotter-than-expected 3.6% in June, according to data released by the Office for National Statistics (ONS) on Wednesday.Economists polled by Reuters had anticipated inflation would reach 3.4% in the twelve months to June, after it hit 3.4% in May.June core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, rose by an annual 3.7%, up from 3.5% in the twelve months to May.The British pound…
This report is from this week’s CNBC’s UK Exchange newsletter by Ian King. Like what you see? You can subscribe here.The dispatchEngland, Napoleon Bonaparte reputedly once said, is a nation of shopkeepers.These days, he might observe that it is more a nation of administrators, insolvency practitioners and restructuring advisors.Barely a day passes without news of another retailer going bust or closing dozens of stores.To take a handful of headlines from the last week: advisors have been appointed to salvage part of Claire’s U.K., the British arm of the global accessories chain, which has 281 outlets nationwide; Hamleys, the world famous U.K.…
An icon of ASML is displayed on a smartphone, with an ASML chip visible in the background.Nurphoto | Nurphoto | Getty ImagesASML reported second-quarter earnings that beat estimates with the its key net bookings figure ahead of consensus. Here’s how ASML did versus LSEG consensus estimates for the second quarter:Net sales: 7.7 billion euros ($8.95 billion) versus 7.52 billion euros expectedNet profit: 2.29 billion euros vs 2.04 billion euros expectedIn its own previous forecast issued in April, ASML had said it expected second-quarter net sales of between 7.2 billion euros and 7.7 billion euros.Analysts anticipated net bookings — a key…
The global flagship store of Pop Mart, a Chinese toymaker and seller, at Nanjing Road Pedestrian Street on Aug. 16, 2022, in Shanghai, China.Vcg | Visual China Group | Getty ImagesShares in Pop Mart International tumbled over 6% on Wednesday after the toymaker issued a bullish first-half earnings forecast.The Beijing-headquartered company is behind the global craze around Labubu, a toothy, pointy-eared monster-like character. The toymaker sells its dolls in a blind box to buyers who don’t know what character is inside until they open it, with prices ranging from about 59 yuan to 5,999 yuan.In a filing to the Hong…
Nvidia CEO Jensen Huang attends a roundtable discussion at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 11, 2025.Sarah Meyssonnier | ReutersBEIJING — Nvidia CEO Jensen Huang praised China’s generative artificial intelligence models, a day after the U.S. chipmaker said it expected to resume sales of a key AI chip to the country soon.”Models like DeepSeek, Alibaba, Tencent, MiniMax, and Baidu Ernie bot are world class, developed here and shared openly [and] have spurred AI developments worldwide,” Huang said. He was speaking Wednesday at the opening ceremony of a…
