Author name: fwadmin

The market downturn in Europe was caused by customers’ weaker purchasing power due to high interest rates and uncertainties over the pace of the transition to electric vehicles, Michelin said.

The French luxury group posted third-quarter revenue below analysts’ estimates and said it expects operating profit to nearly halve this year.

The toy company’s profit, however, is holding up due to stronger margins, helped by factors such as cost cuts, supply-chain improvements and lower input costs.

The CDC is investigating Quarter Pounders as the possible source of the food-safety crisis, with one death and dozens of illnesses across 10 states.

The surprise increase was the first since the electric-car maker’s earnings began to slide earlier this year as it turned to deep price cuts and other sales promotions to stimulate sales.