Daimler Truck targets 3-5% organic sales growth in industrial business through 2030
The company, one of the world's biggest truckmakers, also targets an adjusted return on sales of more than 12% in the industrial business through 2030, it said in a statement ahead of its investor day.
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Reuters
20 minutes ago
- Reuters
Indian equity benchmarks open muted as investors assess Trump's tariff threat
Aug 5 (Reuters) - India's equity benchmarks opened little changed on Tuesday after U.S. President Donald Trump reiterated his threat of harsh tariffs on goods from India over its Russian oil purchases. The Nifty 50 (.NSEI), opens new tab fell 0.01% to 24,720.25 points and the BSE Sensex (.BSESN), opens new tab lost 0.09% to 80,946.43 as of 9:15 a.m. IST. Trump on Monday threatened to raise tariffs on goods from India over its Russian oil purchases, while New Delhi called his attack "unjustified" and vowed to protect its economic interests, deepening the trade rift between the two countries. Analysts said the ongoing trade rift has hit the market sentiment, and expect the benchmarks to be rangebound until there is clarity over U.S. tariffs. Nine of the 16 major sectors logged gains at the open. The broader smallcaps (.NIFSMCP100), opens new tab and midcaps (.NIFMDCP100), opens new tab were flat.
Reuters
an hour ago
- Reuters
Metal, IT stocks drive Indian stock benchmarks higher
Aug 4 (Reuters) - India's equity benchmarks rose on Monday, led by gains in metals and IT stocks, as hopes of a U.S. rate cut outweighed concerns over potential U.S. tariffs on Indian goods. The Nifty 50 (.NSEI), opens new tab rose 0.64% to 24,722.75 points and the BSE Sensex (.BSESN), opens new tab gained 0.52% to 81,018.72 on Monday, recovering from a two-day drop of about 1.1% after U.S. President Donald Trump announced 25% tariffs on India. "We are seeing some recovery today after last week's reaction to tariff news. But the market should be range bound with a negative bias going ahead until some equilibrium is reached on U.S. tariffs," said UR Bhat, co-founder of tech-driven investment platform Alphaniti Fintech. Fourteen of the 16 major sectors advanced on the day. The broader small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab added 1.3% and 1.4%, respectively. Metals (.NIFTYMET), opens new tab gained 2.5%, and were the top sectoral gainers, as a softer dollar made commodities cheaper for overseas buyers. Meanwhile, IT stocks (.NIFTYIT), opens new tab, which get a significant chunk of revenue from the U.S., jumped 1.6% on hopes of a rate cut by the U.S. Federal Reserve after data showed weak labour market in the world's largest economy. The U.S. added fewer jobs than expected in July, with sharp downward revisions to previous months, lifting bets of a September rate cut to 80% from 63% a week earlier. Asian shares (.MIAPJ0000PUS), opens new tab rose 0.9% on growing hopes of lower U.S. interest rates, which tend to boost demand for emerging market equities like India among foreign investors. Autos (.NIFTYAUTO), opens new tab too advanced 1.6%, led by Hero MotoCorp ( opens new tab and TVS Motor ( opens new tab, following their strong July sales numbers. Among other stocks, agro-chemicals manufacturer UPL ( opens new tab soared 7% and was among top midcap gainers, as a growth in volumes and margin expansion in first quarter cheered investors. Multi Commodity Exchange of India ( opens new tab gained 5% after on strong quarterly earnings growth and announcement of a stock split.
The Independent
an hour ago
- The Independent
Driver dies trying to set land speed record on Utah salt flat
A 60-year-old veteran speed racer has died after his vehicle flew out of control while trying to set a new record on the salt flats of Utah. Chris Raschke of Ventura, California, was hoping to make history when he climbed into his ultra-streamlined Speed Demon III car at the Bonneville Speedway on Sunday. It was the second day of Bonneville's annual 'Speed Week' festival in which hundreds of hot rod and motorcycle racers compete for the fastest performance in various categories. On Sunday afternoon, the event's organizers announced Raschke had "lost control of his land speed vehicle" at 3.03 p.m. that day, with other reports indicating he was traveling at close to 300 mph. "Chris was treated by medical professionals at the scene. Unfortunately, he passed away from his injuries," the Southern California Timing Association said. "The cause of the incident is currently under investigation." His teammates said on Facebook that they were "deeply devastated", asking everyone to "please respect Chris's family, friends, and the Speed Demon team". Raschke is survived by his wife Connie Patterson and his children Kenny, Kristoph, and Carly. According to his team biography, Raschke began his motor sports career at the Ventura Raceway in the early 1980s, racing mini stock cars before becoming an assistant to the Speed Demon's engine builder Kenny Duttweiler. In 1996 he joined the high-performance bolt manufacturer ARP, eventually becoming its marketing director, while gaining a place on the Speed Demon team and winning trophies at Bonneville. "Chris Raschke's world is speed," the biography said. "Chris was known to many as the face of ARP, but to those who knew him on the salt, he was someone who found the perfect balance of friendly and competitive," wrote the American Hot Rod Foundation on Facebook. "Never a usual combination and one that speaks to the quality of his character. We send our deepest sympathies to Chris's family and friends." Engine Builder Magazine described him as "known for his ever-present energy, quick wit, and encyclopedic knowledge of fasteners", saying he was often seen at trade shows and races around the world. "Friends and colleagues remember Raschke as someone who lit up every room, or racetrack, he entered. Whether helping a racer torque a head bolt correctly or making a classroom of young gearheads laugh during a seminar, Chris's charisma and depth of knowledge left a lasting impact," the magazine said. The fastest cars in the world use rocket or jet engines, traveling above 600 mph. The reigning champion, 1997's ThrustSSC, was so fast it actually broke the sound barrier. But the Speed Demons were built to break a different record: the fastest speed ever achieved by a piston-engined vehicle. That title is currently held by Raschke's mentor George Poteet, who in 2020 reached 470 mph with an earlier version of the Speed Demon. Raschke came closest to that in 2024, when he raced at 460 mph and earned the coveted Timing Association "black hat".
