UK’s new car sales drop 24% to mark weakest June since 1996

Breadcrumb Trail Links PMN Business Author of the article: Article content British new car registrations fell 24% in June from a year earlier, marking the weakest month in 26 years, as the sector struggled with persistent supply shortage of components due to China’s COVID-19 restrictions, industry data showed on Tuesday. The British auto industry, already … Read more

China’s Warren Buffett-backed BYD overtakes Tesla in global EV sales

BYD, the Chinese auto giant backed by Warren Buffett’s Berkshire Hathaway, has dethroned Elon Musk’s Tesla as the world’s biggest electric vehicle producer by sales, signalling China’s rising dominance over the sector. Shenzhen-based BYD sold 641,000 vehicles in the first six months of the year, a more than 300 per cent jump from the same … Read more

Urban FMCG sales see sharper fall than rural in June, shows data

Fast-moving consumer goods (FMCG) sales continued to be lower in June compared to May with urban sales witnessing a steeper decline than rural. Sales of goods from shampoos to biscuits stayed lower due to inflationary pressures on commodities. This pushed consumer companies to continue taking price hikes, thus impacting … Read more

Tesla’s 2Q sales drop amid supply chain, pandemic problems

Breadcrumb Trail Links PMN Business Author of the article: The Associated Press Tom Krisher Publishing date: Jul 02, 2022  •  34 minutes ago  •  3 minute read  •  Join the conversation Article content DETROIT (AP) — Tesla’s sales from April through June fell to their lowest quarterly level since last fall as supply chain issues and … Read more

Bitcoin’s Price Keeps Falling Amid Crypto Liquidations, Fire Sales

Bitcoin resumed its slide this week and the crypto winter is getting colder. More crypto funds and lenders are on the edge, while the stock market woes have weighed on Bitcoin and other cryptocurrencies, which have traded like speculative growth stocks. X Bitcoin failed to hang onto $21,000 at the start of the week and … Read more

Micron Issues Muted Sales Forecast On Demand Weakness

Memory-chip maker Micron Technology issued a subdued revenue outlook, spooking investors even as it reported a strong rise in earnings for its latest quarter. “Recently, the industry demand environment has weakened, and we are taking action to moderate our supply growth” in coming quarters, Chief Executive Sanjay Mehrotra said in a statement, adding that he … Read more

Housing sales fall 15% in Apr-Jun in top 7 cities from previous quarter

Housing sales have declined 15 per cent during April-June period to 84,930 units across seven major cities compared to the previous quarter, due to rise in property prices as well as mortgage rates, according to Anarock. Sales stood at 99,550 units in the January-March quarter of this year. … Read more

Ben & Jerry’s sales to continue in Israel after Unilever sells licence

Unilever has sold its Israeli Ben & Jerry’s business to a local licensee in an attempt to draw a line under a bitter spat between the ice cream brand and the government. The sale to businessman Avi Zinger, owner of American Quality Products, brings to an end a year-long legal battle after Ben & Jerry’s … Read more

Texas Attorney General Opens Investigation Into Walmart’s Opioid Sales

Texas Attorney General Ken Paxton said on Tuesday he was investigating whether Walmart WMT.N improperly filled prescriptions and failed to report suspicious orders when selling opioid drugs. Paxton said he had opened a civil investigation into Walmart’s potential violations of the Texas Deceptive Trade Practices Act relating to the promotion, sale, dispensing and distribution of … Read more