Cosmetics powerhouse L’Oréal announced third-quarter sales growth of 3.4 percent, a far miss from analysts’ expectations of a 6-percent gain.
Tag: Economy
TOP TREND 2024, EV GO FU: AUTOMAKERS TURN TO PLUG-IN HYBRIDS. CONSUMERS TURN AWAY
When consumers slowed their purchases of all-electric vehicles (EVs), they turned to hybrids that run mainly on gas but also draw some power from a battery pack.
SPOTLIGHT: CONSUMER PRODUCTS COMPANIES ON THE ROPES
Volvo Cars has slashed its 2024 sales growth outlook for this year to 7 to 8 percent, cutting it from 12 to 15 percent it had predicted in an earlier downgrade.
SPOTLIGHT: BIGS GETTING BIGGER
French pharma giant Sanofi paid $300 million to buy 16 percent of Orano Med, a rising player in radiopharma, the emerging science of using nuclear isotopes to kill cancer tumors.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
China’s economy expanded at an annual rate of 4.6 percent in the third quarter, according to government figures, ticking down from the previous quarter’s 4.7 percent and far short of Beijing’s 5-percent growth target for this year.
TOP TREND 2024, EV GO FU: LUCID SEEKS CASH, WILL SELL ANOTHER 262.4 MILLION SHARES
Electric vehicle maker Lucid Motors announced a plan to raise more than $750 million by selling another 262.4 million shares of common stock.
SPOTLIGHT: BIGS GETTING BIGGER
BlackRock, the world’s richest private equity firm, has announced that it is managing about $11.3 trillion for investors, the most money it has ever had under its control.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
China’s roaring rally in equity markets seems to be running out of energy. After the People’s Bank of China created a fund to make cheap loans that people and businesses could use to buy stocks, markets soared.
TOP TREND 2023: OFFICE BUILDING BUST: LANDLORDS OFFER TURNKEY OFFICE SUITES TO LURE TENANTS
In Canada, where the office vacancy rate rose to 14.7 percent in the third quarter, office landlords are offering prospective tenants turnkey office suites, with desks, chairs, breakrooms, and other accouterments already in place.
SPOTLIGHT: BIGS GETTING BIGGER
Lower interest rates will be a boon to private equity firms, which tend to use debt to fund takeovers. The sector has booked $531 billion in deals so far this year, 38 percent more than by this time last year.