Latest news with #560
TimesLIVE
4 days ago
- Automotive
- TimesLIVE
Audi cuts forecast over US tariffs and restructuring costs
German carmaker Volkswagen's premium brand Audi lowered its full-year financial guidance on Monday, citing the impact of higher US import tariffs and ongoing restructuring costs. The Ingolstadt-based company expects revenue of between €65bn (R1,355,406,000,000) and €70bn (R1,459,560,200,000), down from its previous forecast of €67.5bn (R1,407,537,000,000) to €72.5bn (R1,511,687,350,000). Audi also cut its operating margin forecast to 5% to 7%, compared to the earlier range of 7% to 9%. Audi said it is assessing the implications of the trade deal reached between the US and the EU on Sunday. The agreement set a 15% baseline US tariff on imports from the EU, including cars, which had previously faced customs duties of 27.5%. "Should the 15% tariff stay in place long-term, it would put Audi at a competitive disadvantage because its key peers have a more pronounced US production footprint," said Fabio Hoelscher, an analyst from Warburg Research. Audi is among the carmakers most exposed to US tariffs as it has no manufacturing facilities in the US. Though the deal provides clarity on the new tariff regime, enabling better operational and strategic planning, the 15% rate represents a structural shift from the 2.5% rate before US President Donald Trump took office, said Pal Skirta, equity analyst from Metzler Equities. That leaves German carmakers facing persistently higher US tariffs on their exports and long-term competitiveness challenges, he said. The Volkswagen Group also cut its full-year guidance on Friday after taking a $1.5bn (R26,781,448,350) tariff hit in the first half of the year. Global carmakers have booked billions of losses and some issued profit warnings due to US import tariffs. The European industry is also facing stiffening competition from China and domestic regulations aimed at speeding up the electric-vehicle transition.
New Straits Times
20-06-2025
- New Straits Times
Woman loses RM139,560 in phone scam over fake arrest warrant
MUAR: A woman lost RM139,560 after falling victim to a phone scam syndicate that convinced her she was under investigation and faced arrest over a false insurance claim. The 40-year-old account executive said she had received a call from someone impersonating an insurance officer, who later transferred the call to individuals posing as a police officer and a deputy public prosecutor. Muar deputy police chief Superintendent Muhammad Aidil Roneh Abdullah said the scam began in January, when the victim was contacted by an unknown individual claiming to represent an insurance company. Aidil said the suspect accused the victim of filing a false insurance claim before transferring the call to the Dang Wangi district police headquarters, where another individual posing as a police officer took over the conversation. "The scammer told the victim she was linked to 21 police reports involving non-existent investment schemes and that a warrant of arrest had been issued against her. "The victim was then instructed to open a new bank account for investigation purposes and deposit all her savings into it to resolve the case. "At the same time, she provided her bank card details to the individual. Trusting the caller, the victim made 30 transactions into the account between Jan 31 and June 17," he said in a statement. The woman later noticed missing funds amounting to RM139,565 after reviewing her account, which showed 38 transactions made into 20 different bank accounts. "The victim realised she had been duped when her attempts to contact the caller failed after her number was blocked. The lost amount was from her personal savings," Aidil added.
Daily Mirror
06-06-2025
- Business
- Daily Mirror
Over 800,000 families get up to £4,000 boost through HMRC scheme
Latest figures from the tax office show that in March 2025, 579,560 families in the UK used the scheme to save on their annual childcare bills - this is an increase of 81,770 families compared to March last year Over 800,000 households have received an up to £4,000 boost through HMRC's Tax-Free Childcare scheme. According to official data, 826,000 families received government top-ups towards their childcare bills worth £632million between 2024 and 25. However, thousands more families could be eligible for the scheme, and HMRC is urging parents to sign up now for the summer. According to recent data, around 800,000 eligible families are eligible but aren't currently using this benefit. The childcare scheme is an online account which parents and guardians pay into, and then they receive a top up payments from the Government. For every £8 you pay into the account, the Government will automatically add in £2 which you can put towards your childcare costs. Childcare allowed under the scheme must be a registered provider such as nurseries, nannies, after school clubs and play schemes. The scheme helps pay for childcare for children up to the age of 11 years, or up to 16 if the child has a disability. If you're eligible, you can get up to £500 every three months - up to £2,000 a year - for each of your children. If your child is disabled, you could receive £1,000 or up to £4,000. Latest figures from the tax office show that in March 2025, 579,560 families in the UK used the scheme to save on their annual childcare bills. This is an increase of 81,770 families compared to March last year. Myrtle Lloyd, HMRC's Director General for Customer Services, said: "Summer can be an expensive time if you have children. Whatever you're planning, Tax-Free Childcare can give your plans a welcome financial boost. Go to to start saving today.' To be eligible for the scheme, you must earn at least the minimum wage, for the equivalent of 16 hours a week. If you're in a couple, your partner must also earn this. Self-employed workers are also eligible if they earn this amount too. Both you and your partner also have to earn less than £100,000 a year to qualify. Join Money Saving Club's specialist topics For all you savvy savers and bargain hunters out there, there's a golden opportunity to stretch your pounds further. The Money Saving Club newsletter, a favourite among thousands who thrive on catching the best deals, is stepping up its game. Simply follow the link and select one or more of the following topics to get all the latest deals and advice on: Travel; Property; Pets, family and home; Personal finance; Shopping and discounts; Utilities. This scheme is open to working families so you will not be able to get this help if you are claiming Tax Credits, Universal Credit or childcare vouchers. However, there are some exceptions for those who are not working. For example, you may still be able to claim if one of you is working and the other gets Incapacity Benefit, Severe Disablement Allowance, Carer's Allowance or Employment and Support Allowance (ESA). HMRC says it takes around 20 minutes to apply for the scheme and you can do this through the website. Once an account is opened, parents can deposit money immediately, so it is ready to be used whenever it is needed; and unused money in the account can be withdrawn at any time. Going forward, you will need to make sure the detail on the account are up to date every three months to keep receiving the Government top ups. It's also important to note that each eligible child requires their own Tax-Free Childcare account. If families have more than one eligible child, they will need to register an account for each child. The government top-up is then applied to deposits made for each child, not the household.
AU Financial Review
13-05-2025
- General
- AU Financial Review
Tiffany gets serious about watchmaking
n 1900, when the ground was broken for the building of New York's subway system, Tiffany & Co took a small amount of dirt from the first shovel and encased it in the back of a pocket watch. The timepiece, studded with old-cut diamonds and suspended on a gold chain, was given to the daughter of then New York City mayor, Robert Anderson Van Wyck, and was sold by Christie's in 2022 for $US70,560 – around three times the pre-auction estimate.
Malay Mail
29-04-2025
- Malay Mail
Customs Dept seizes RM130,000 worth of meth disguised as tea packets at Miri courier service premises
MIRI, April 29 — The Royal Malaysian Customs Department has halted two attempts to traffic dangerous drugs totalling 4.08kg worth RM130,560 through a courier service company here. State Customs director Norizan Yahya said the department's Narcotics Unit conducted an operation around 9.30am on March 24 at a courier service premises at Jalan Miri-Bypass. During a screening of packages, the drugs sniffer dog detected a package suspected of containing dangerous drugs. 'A thorough inspection subsequently led to the discovery of two tea packages containing 2.04kg of methamphetamine — a dangerous drug, with an estimated value of RM65,280. The package was addressed to an abandoned, uninhabited house,' Norizan said in a statement today. 'The seized items were confiscated under Section 30(1) of the Dangerous Drugs Act 1952.' He said a possible modus operandi of the syndicate was to use air courier services from Peninsular Malaysia to deliver packages to unoccupied addresses here. Methamphetamine is classified as a dangerous drug under Part III, First Schedule, of the Dangerous Drugs Act 1952. Separately, he said the Narcotics Unit also seized another package during the same operation at the same premises, after the drugs sniffer dog detected dangerous drugs. He said the package contained two packets labelled as 'tea', which contained 2.04kg of methamphetamine valued at RM65,280. The package, addressed to an abandoned, uninhabited house, also contained food items. The seized items were confiscated under Section 30(1) of the Dangerous Drugs Act 1952. Both cases are being investigated under Section 39B of the Dangerous Drugs Act 1952 for trafficking. The Section provides for the death penalty or life imprisonment, and if the court imposes a life sentence, the offender shall also get a minimum 15 stokes of the cane. — The Borneo Post
