Latest news with #418
TimesLIVE
4 days ago
- Automotive
- TimesLIVE
Volvo books $1bn impairment charge due to tariffs, launch delays
Sweden-based Volvo Cars is booking a impairment charge of 11.4bn crowns (R21,418,740,000) in the second quarter related to its ES90 and upcoming EX90 models, due to tariffs and launch delays, it said on Monday. The group, controlled by China's Geely Holding, said it is unable to profitably sell its Volvo ES90, which is built in China, in the US due to import tariffs, while profit margins for the same model are under pressure in Europe for the same reason. "The charge primarily reflects adjustments in expected volumes and planned lifecycle profitability associated with the platform for the EX90 and ES90 cars," it said. The impairment charge also reflects significant launch delays in the past and subsequent additional development costs, it said. Out of the total amount, 4.0bn crowns (R7,433,900,000) is estimated to impact cost of sales and most of the remaining amount affects the R&D line in the financial reporting. Volvo Cars, due to publish second-quarter results on July 17, said the effect on net income in the period will be 9.0bn crowns (R16,712,982,000).
Zawya
18-04-2025
- Business
- Zawya
Oman: MSX Index closes higher at 4,305 Points
Muscat: Muscat Stock Exchange (MSX) general index (30) on Thursday gained 0.6 point, comprising a rise by 0.01% to close at 4,305.05 points, compared to the last session on Wednesday, which stood at 4,304.44 points. The trading value stood at OMR3,462,451 comprising a drop by 29.9%, compared to the last session, which stood at OMR4,937,418. The report released by MSX pointed out that the market capitalisation stood at OMR27.17 billion. The report added that the value of shares bought by non-Omani investors reached (OMR189,000, comprising 5.47%. The value of shares sold by non-Omani investors reached OMR320,000), comprising 9.25%. The net non-Omani investment decreased by 3.79% to OMR131,000. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
17-04-2025
- Business
- Times of Oman
MSX Index closes higher at 4,305 Points
Muscat: Muscat Stock Exchange (MSX) general index (30) on Thursday gained 0.6 point, comprising a rise by 0.01% to close at 4,305.05 points, compared to the last session on Wednesday, which stood at 4,304.44 points. The trading value stood at OMR3,462,451 comprising a drop by 29.9%, compared to the last session, which stood at OMR4,937,418. The report released by MSX pointed out that the market capitalisation stood at OMR27.17 billion. The report added that the value of shares bought by non-Omani investors reached (OMR189,000, comprising 5.47%. The value of shares sold by non-Omani investors reached OMR320,000), comprising 9.25%. The net non-Omani investment decreased by 3.79% to OMR131,000.
Yahoo
16-02-2025
- Yahoo
Massive warning for train commuters
Sydney commuters are set for more headaches with industrial action expected to continue causing transport chaos across the city. Ongoing negotiations between the rail union and the NSW state government appear no closer to being resolved with more mass delays expected for commuters this week if the NSW Rail, Tram and Bus Union (RBTU) decides to strike again. The long-running pay dispute escalated on Friday leaving many commuters stranded, with more than 800 cancelled services. But (RBTU) state secretary Toby Warnes said the train network could be thrown into chaos again unless the 'lockout' notices issued by the government are rescinded. 'This is going to come as cold comfort to commuters, but we don't know [if] these 5000 lockout notices [will] stay in place,' Warnes told the Today Show on Sunday. 'The nature of these lockout notices say that if you do come to work and you are found to be going slow, which is our original ban, you will lose an entire day's pay. 'So our members are in a really hard position at the moment, choosing between potentially working for free for a day or not coming to work at all. 'It could be the same situation as Friday or it could be fine as we've seen over the weekend — so it's very unpredictable.' The Fair Work Commission is expected to hand down its decision on whether it will uphold the state government's 418 application around 1.30pm on Sunday. The application is an order to stop or prevent unprotected industrial action. 'The government is spending millions and millions of dollars trying to fight members,' Warnes said on Facebook. ' Stay united, stay strong … we are going to get a good deal out of this. 'We are going to get a good deal out of this and we'll be back shortly tomorrow to ensure that you're updated every step of the way.' Many rail lines faced delays on Sunday due to 'trackwork', 'changed timetables' and 'driver shortages', Transport for NSW said. Commuters are urged to check the Transport for NSW website for updates and plan ahead.
