Stock markets

Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year.Here's what the bank reported ersus what Wall Street was expecting based on a survey of analysts by LSEG, formerly known as Refinitiv:·       Revenue: $20.48 billion vs. $20.30 billion expectedWells Fargo's stock fell 1% before the bell.Total revenue came in at $20.48 billion for the period. That's a 2% increase from the fourth quarter…

BYD's new luxury brand Yangwang is selling its first model, the U8, for more than 1 million yuan (US$160,000).CNBC | Evelyn ChengBEIJING — BYD has overtaken Tesla again by the sheer number of new energy vehicles produced in 2023, thanks in part to the Chinese automaker's hybrids and wide range of offerings in a lower price range.While Tesla's Model Y was the best-selling purely battery-powered car in China for the six months ending in November, BYD vehicles accounted for four of the top 10 such cars sold during that time.…

The shares were bought in both the US and Hong Kong stock markets, the company said in a filing. The shares were bought in both the US and Hong Kong stock markets, the company said in a filing. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the…

Chinese smartphone company Xiaomi revealed on Dec. 28, 2023, its forthcoming electric car, the SU7 sedan.CNBC | Evelyn ChengBEIJING — Chinese consumer electronics company Xiaomi on Thursday detailed plans to enter China's oversaturated electric vehicle market and compete with automaker giants Tesla and Porsche with a car model it says it spent more than 10 billion yuan ($1.4 billion) to develop.The company's car model, known as Xiaomi SU7, "is in trial production and it will hit the domestic market in a few months," CEO…

An employee works on the production line of pharmaceutical company Zentiva in Prague, Czech Republic, May 6, 2021.David W. Cerny | ReutersThe health-care sector has wiped out much of its losses for the year during the December market rally. Beaten-down biotech and medical device makers have seen the biggest rebound this month, and analysts see that momentum continuing in the new year.Still, analysts and strategists have a mixed outlook for the sector in 2024."We're entering the year as an underweight," said Sam Stovall,…

Several Tesla electric vehicles are parked in front of a Tesla service center in the Kearny Mesa region, in San Diego, California, U.S., October 31, 2023. Abhirup Roy | ReutersMarko Sustic has bet big on Tesla this year.The investor, who also happens to work in the European auto industry, bought Tesla shares nearly every month in 2023 and has almost doubled the size of his position over the course of the year. Sustic has no other electric vehicle holdings out of a belief that competitors won't be able to beat Tesla's…

HAIAN, CHINA - NOVEMBER 7, 2023 - A crab farmer sells crabs via a live webcast at Xinhai village in Haian city, Jiangsu province, China, Nov 7, 2023. (Photo by Costfoto/NurPhoto via Getty Images)Nurphoto | Nurphoto | Getty ImagesBEIJING — Livestream shopping is taking off in China, driving development of new tech products such as virtual human streamers and mobile data packages.It's an attempt to monetize — and innovate — in one of the few bright spots for an economy that's largely slowing in growth.Livestreaming…

SHANGHAI, CHINA - NOVEMBER 12, 2023 - Customers experience Luxeed S7, the first intelligent pure electric vehicle, at Huawei's flagship store in Shanghai, China, November 12, 2023. (Photo by Costfoto/NurPhoto via Getty Images)Nurphoto | Nurphoto | Getty ImagesBEIJING — Chinese telecommunications and smartphone giant Huawei is doubling down on selling its tech in the competitive electric car market.The company has emphasized it doesn't manufacture cars. Instead, it sells tech components such as its Harmony OS operating…

People attend a launch ceremony of Inceptio's autonomous driving system on March 10, 2021 in Shanghai, China.Huanqiu.com | Visual China Group | Getty ImagesBEIJING — China's truck industry is finding more reasons to buy vehicles with assisted-driving technology.It's a critical step toward monetization in a nascent business that's drawn many investor dollars, with relatively little to show for it so far.One broad transformation is that the trucking industry in China is changing from one in which individual drivers…

Chinese startup Li Auto sold more cars in October than Tesla's China business did in October, according to the China Passenger Car Association.Nurphoto | Getty ImagesBEIJING — Chinese startup Li Auto sold more cars than Tesla's China business did in October, according to the China Passenger Car Association.The startup sold a record 40,422 cars in October, far more than Tesla did at 28,626, association data showed Thursday.Li Auto also forecast it would keep delivering cars at a similar pace in the fourth quarter: Between…