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13.05.26 - 07:42
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Trump due in China for high-stakes summit with Xi Jinping, as Iran war looms over talks (The Guardian)
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The US president will arrive with tech leaders including Elon Musk and Tim Cook, with trade, AI and Taiwan all set to be discussedDonald Trump is due to arrive in Beijing on Wednesday evening, the first visit to China by a US president in nearly a decade, as he seeks to mend power and prestige weakened by the war in Iran.Trump will bring tech leaders, including Elon Musk of Tesla and Tim Cook of Apple, and plans for headline-grabbing deals. He has said he expects China's leader, Xi Jinping, would “give me a big, fat hug when I get there”. Continue reading......
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08.05.26 - 22:18
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Toyota And Honda See Sharp Declines In Profit Amidst Iran War Pressures, Spiking EV Costs (ZeroHedge)
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Toyota And Honda See Sharp Declines In Profit Amidst Iran War Pressures, Spiking EV Costs
Toyota expects a sharp decline in profit as rising material and shipping costs tied to the Iran conflict pressure its business, according to Bloomberg.
The automaker projected operating income of ¥3 trillion for the fiscal year ending March 2027, well below both analyst expectations of ¥4.6 trillion and last year's ¥3.8 trillion.
The company said supply chain disruptions are driving up costs for aluminum, resins, and other materials, while logistics issues remain unpredictable. Toyota estimates the regional conflict could reduce earnings by about ¥670 billion.
After the forecast was released, shares dropped as much as 3.5%. Analysts noted Toyota may be giving conservative guidance, but future performance will depend heavily on how long the conflict continues.
Julie Boote, an analyst at London-based research firm Pelham Smithers Associates Ltd told Bloomberg: “Toyota did not only miss consensus e...
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08.05.26 - 14:30
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Iran war costs Toyota £3bn as prices of materials soar and sales fall (The Guardian)
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Carmaker gives one of largest warnings yet of conflict's impact on businesses while Trump tariffs also take tollToyota has reported a £3bn hit from costs from the war in Iran, as prices of parts and materials soared and sales dropped.The world's biggest carmaker said profits declined in its financial year to March as it was “likely unable to absorb newly added impact from the Middle East”, in one of the largest warnings yet of the war's impact on businesses. Continue reading......
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