- Asian markets track Wall St rally on US jobs data
- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
Aston Martin losses deepen despite rising car sales
British luxury carmaker Aston Martin Lagonda on Wednesday revealed its third-quarter net losses more than doubled on supply-chain disruptions, offsetting accelerating sales.
Losses after tax hit £228 million ($262 million) in the three months to the end of September, after a shortfall of almost £90 million a year earlier, according to the group which is targeting electrification of its range.
Sales of the brand, loved by fictional spy James Bond, zoomed by a third to £315.5 million, but this was propelled by a 28-percent increase in the average car price, it said in a statement.
Aston Martin faced "supply chain and logistics disruption as well as inflationary pressures impacting the broader automotive industry" which delayed car deliveries and ramped up costs, noted chairman Lawrence Stroll.
The group was hit also by a plunge in the pound that made dollar-denominated debt more expensive.
- Britishvolt -
Aston Martin has been knocked off track also by a collaboration with troubled electric car battery startup Britishvolt.
UK-based Britishvolt on Wednesday said it had secured "necessary near-term investment" after media reported on Monday that the cash-strapped firm was on the brink of collapse.
The startup, which is developing a £3.8-billion electric battery factory in northeastern England, also warned that the "weakening economic situation is negatively impacting much business investment".
Britishvolt said staff had agreed to a temporary pay cut despite a UK cost-of-living crisis amid sky-high inflation.
Britain is due to ban the sale of new high-polluting diesel and petrol cars from 2030, forcing its car manufacturing sector to increasingly switch production to electric models.
Aston Martin meanwhile suffered vast losses in 2019 as it crashed spectacularly on weak global demand linked to China's economic slowdown and Brexit.
Losses then deepened further as a result of fallout from the coronavirus pandemic.
The automaker was saved from bankruptcy in early 2020 by Canadian billionaire Lawrence Stroll, who is the top shareholder.
Saudi Arabia became the second-biggest investor following a capital injection from its sovereign wealth fund earlier this year.
Aston Martin is looking to shift gear into fully-electric vehicles from 2025.
M.Anderson--CPN