The European car industry is facing a severe crisis, with major manufacturers like VW, Audi, and Nissan reporting significant profit declines and mass layoffs. The VW Group has seen profits drop over 60% in the third quarter, prompting strict cost-cutting measures, plant closures, and thousands of job cuts across the sector.
At the 7th China International Import Expo in Shanghai, global companies are showcasing over 400 innovative products, including advanced medical technologies from GE Healthcare and Siemens Healthineers, as well as futuristic concepts like lunar exploration tires from Michelin and eVTOL aircraft from Vertaxi. Chinese Premier Li Qiang emphasized the country's commitment to economic recovery and market openness, while companies like Panasonic are increasing R&D investments to adapt to the evolving market. The expo highlights China's growing role in the global innovation landscape, with the country ranking 11th in the Global Innovation Index 2024.
At the seventh China International Import Expo (CIIE), global companies showcased innovative technologies, including Siemens Healthineers' MAGNETOM Terra.X MRI equipment and Michelin's lunar exploration tires. Startups like Vertaxi presented eVTOL aircraft for various applications, while Shift Robotics introduced motor-powered shoes for enhanced mobility. China's rise in the global innovation landscape is underscored by its 11th place ranking in the Global Innovation Index 2024, reflecting a shift towards quality-oriented growth.
UBS has reduced its price target for Michelin from 43 to 40 euros following the company's third-quarter results, while maintaining a "Buy" rating. Analyst Patrick Hummel cited unexpected weakness in the specialty tire segment as a key factor influencing the revised estimates.
UBS has reduced its price target for Michelin from 43 to 40 euros following the company's third-quarter results, while maintaining a "Buy" rating. Analyst Patrick Hummel cited unexpected weakness in the specialty tire sector and adjusted his estimates accordingly.
UBS has maintained a 'Buy' rating for Michelin, setting a target price of 43 euros, despite the company's disappointing third-quarter sales figures and a lowered earnings forecast. Analyst David Lesne noted a decline in specialty sales and weak demand from car manufacturers.
UBS has maintained its "Buy" rating for Michelin, setting a target price of 43 euros, following disappointing third-quarter sales figures. Analyst David Lesne noted a decline in specialty sales and weak demand from car manufacturers, leading to a lowered earnings forecast for the year.
VPBank is offering exclusive culinary experiences at Michelin-starred restaurants in Vietnam, providing discounts of up to 50% for customers using VPBanque credit cards. This promotion, running until December 31, 2024, includes over 28 participating restaurants and additional benefits at duty-free stores across Asia. Customers can also enjoy various incentives for spending in sectors like supermarkets and travel, enhancing their overall experience with the bank's services.
VPBank is offering exclusive promotions for credit card holders, including up to 50% off at Michelin-starred restaurants and various discounts at duty-free stores across Asia. Customers can also enjoy cashback incentives when using contactless payment solutions at select retailers. The promotional programs run until December 31, 2024, enhancing the overall customer experience with attractive dining, shopping, and travel benefits.
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