Shares of China’s Xiaomi surged as much as 16% on Tuesday as the electronics maker’s sporty electric vehicle launched last week drew strong interest, though a brokerage forecast the firm would lose nearly $10,000 per car this year.
Shares of Calvin Klein-owner PVH Corp slumped nearly 23% before the bell on Tuesday, after it forecast worse-than-feared annual revenue and profit, mainly hit by challenging demand in Europe.
Renault will start engineering work on a more affordable version of its electric Twingo model this month, two sources told Reuters, with production targeted in two years as it seeks to stave off intense competition from Chinese rivals.
An OPEC+ ministerial panel is unlikely to recommend any oil output policy changes at a meeting on Wednesday, five OPEC+ sources told Reuters, as oil prices hit their highest this year.
U.S.-listed shares of pot producers rise premarket on Tuesday after the Florida Supreme Court on Monday allowed voters to decide on the fate of recreational use of marijuana in the state through a referendum on the November ballot.
Amazon Web Service (AWS) has expanded its free credits program for startups to cover the costs of using major AI models, the company told Reuters in an interview, as it looks to boost the market share of its AI platform Bedrock.
China’s Huawei Investment & Holding Co intends to distribute shareholder dividends amounting to 77.095 billion yuan ($10.65 billion), the Shanghai clearing house said on Tuesday without elaborating.
General Electric on Tuesday completed its breakup into three companies, marking the end of an era for the industrial conglomerate pioneer that was once a symbol of American business power.
