Germany slashes 2024 growth forecast to just 0.2% as economy in ‘tricky waters,’ minister says

Robert Habeck, German Minister for Economy and Climate Protection and Vice Chancellor, is pictured during the weekly meeting of the cabinet on February 21, 2024 in Berlin, Germany. Florian Gaertner | Photothek | Getty Images Germany’s gross domestic product is now expected to grow by just 0.2% this year, as the country wades in “tricky … Read more

Lyft shares jump over 34%, retaining some gains after forecast error

An empty Lyft pick-up area is shown as rideshare drivers hold a rally as part of a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights”, in Los Angeles, California, U.S., August 20, 2020.  Mike Blake | Reuters Lyft shares traded over 34% … Read more

Arm shares soar after company reports strong earnings and forecast

Arm CEO Rene Haas and executives cheer as Softbank’s Arm, a chip design firm, holds an initial public offering at the Nasdaq MarketSite in New York, Sept. 14, 2023. Brendan Mcdermid | Reuters Shares of chip designer Arm climbed more than 60% on Thursday morning after the company reported better-than-expected earnings Wednesday and a strong … Read more

Nintendo hikes sales forecast of Switch console to 15.5 million units

Nintendo has kept players interested in its ageing Switch console series through key games with characters such as Super Mario and Zelda. Charly Triballeau | AFP | Getty Images Nintendo said on Tuesday it now expects to sell 15.5 million of its flagship Switch consoles in its current fiscal year, upping a previous forecast, after … Read more

Japan’s Aozora Bank hits near 3-year lows as bad U.S. property loans prompt loss forecast

The Aozora Bank Ltd. headquarters in Tokyo Japan, on Thursday, Feb. 1, 2024. Japan’s Aozora Bank became the second lender in a span of hours to surprise investors with losses tied to US commercial property, sending shares down by the limit and heightening concern over global banks’ exposure to souring real estate bets. Akio Kon … Read more

European Central Bank holds rates and trims its inflation forecast

BRUSSELS, BELGIUM – NOVEMBER 27: Christine Lagarde, President of the European Central Bank speaks during the European Parliament’s Committee on Economic and Monetary Affairs (ECON) meeting in Brussels, Belgium on Nevember 27, 2023. (Photo by Dursun Aydemir/Anadolu via Getty Images) Anadolu | Anadolu | Getty Images The European Central Bank on Thursday held interest rates … Read more

Fed lowers inflation forecast for 2024, seeing core PCE falling to 2.4%

Federal Reserve Board Chairman Jerome Powell answers a question during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, November 1, 2023. Kevin Lamarque | Reuters The Federal Reserve dialed back its inflation projections on Wednesday, seeing its favorite gauge … Read more

Forecast: Apple to launch two OLED iPad Pros, 12.9-inch Air in early 2024

Apple/ZDNET 2024 will be a busy year for Apple and for iPad users, at least according to noted Apple analyst Ming-Chi Kuo. In a report posted on Medium (free account required), Kuo served up his forecast for the iPad market next year, eyeing new and improved versions of the iPad Pro, iPad Air, iPad Mini, … Read more

Rivian raises production forecast for 2023, narrows losses in Q3

Rivian continued to close the gap on losses, reduce costs and ramp up production in the third quarter with results that beat Wall Street expectations and suggested a rosier future, including raising its annual production guidance from 52,000 to 54,000 vehicles. The EV maker reported Tuesday (after markets closed) revenue of $1.33 billion, a figure driven … Read more

Rivian raises full-year production forecast, shares rise

(Reuters) -Rivian Automotive reported better-than-expected third-quarter revenue on Tuesday and raised its production forecast for the full year by 2,000 vehicles to 54,000 units. Shares of Rivian, which closed 1.4% higher, rose more than 3% in volatile after-hours trading. However, Rivian’s smaller rival Lucid cut its production forecast on Tuesday “to prudently align with deliveries”, … Read more