Author: Arabian Media staff
Stay informed with free updatesSimply sign up to the Automobiles myFT Digest — delivered directly to your inbox.UK vehicle production collapsed in May to the lowest level since 1949 after US President Donald Trump’s tariff war forced Aston Martin and other British carmakers to halt their shipments to the US.Car and van production at British plants fell 33 per cent in May from a year earlier to 49,810 units, figures from the Society of Motor Manufacturers and Traders released on Friday showed. Output declined for the fifth consecutive month, marking the worst monthly performance in 76 years, excluding when vehicle factories…
This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters hereGood morning and welcome to FirstFT Asia. In today’s newsletter:Iran’s uranium stockpileIsrael halts aid to north GazaHow the next financial crisis startsThe problem with coffee appsWe start in the Middle East with an exclusive story on the preliminary assessments about Iran’s uranium stockpile.What we know: Two officials told the Financial Times that early intelligence suggests Iran’s 408kg of uranium was not concentrated in Fordow, one of…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nike reported its worst quarterly earnings in more than three years but expressed optimism that the biggest drag from its corporate turnaround strategy may soon be in the past. The Oregon-headquartered company on Thursday announced fourth-quarter revenue of $11.1bn, which surpassed analyst expectations but were the lowest figure since the third quarter of 2022.The sportswear maker posted quarterly net income of $211mn, an 86 per cent drop from the same period last year, and its lowest since the fourth quarter of its…
The S&P 500 index briefly surpassed its all-time record high on Thursday — the latest development in what has been a remarkable comeback from the precipice of a bear market. Source link
Nike Inc. on Thursday reported fourth-quarter results that weren’t as bad as Wall Street expected, but the financials weren’t doing much for the sneaker maker’s stock in after-hours trade. Source link
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThe Treasury has asked Congress to scrap a provision in Donald Trump’s flagship budget bill that allows the US government to raise taxes on foreign investments from select countries, reversing a plan that Wall Street warned could roil markets. Treasury secretary Scott Bessent said on Thursday that parts of the OECD’s global minimum tax regime, known as Pillar 2, would no longer apply to US companies. As a result, the retaliatory measure in the US president’s “big, beautiful” budget bill…
The Federal Reserve chair is one of 12 voters on the rate-setting committee. To what extent can the chair call the shots? Source link
Baird’s Ben Kallo said he needs to see how QuantumScape plans to make money on its breakthrough EV battery-making technology before he gets bullish on the stock. Source link
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldOne of Elon Musk’s top lieutenants has left his job at Tesla amid plunging sales and a pivot to autonomous driving, artificial intelligence and robotics.Omead Afshar, who was promoted to run sales and operations in North America and Europe last year, has left his role, according to two people familiar with the decision. Jenna Ferrua, director of North American human resources, has also departed the company, they said.Tesla, Afshar and Ferrua did not immediately respond to a request for comment.…
More people are living to 100, and that means longer retirements. Being able to enjoy a long retirement might sound like a luxury, but it will also stretch your savings, and you may need to adjust your financial plan as you age. Key Takeaways People planning to live until age 100 will want to bolster their finances as much as possible.Delaying Social Security until age 70 and working a few extra years will help to grow your retirement savings.A financial advisor can ensure that your assets keep growing even after you retire.You might also consider purchasing long-term care insurance. The…