Business

EasyJet hikes profit forecast on demand boom

British airline EasyJet hiked Wednesday its annual profit guidance after record demand and falling quarterly losses, as customers prioritise holidays and shrug off the cost-of-living crisis.

Automotive

Ferrari sales, earnings guidance shift higher

Italian luxury sports car manufacturer Ferrari said Wednesday it had raised its 2022 earnings guidance after posting double-digit gains in sales and earnings.

Business

Amazon posts weaker-than-expected 3Q revenue, stock tumbles

Amazon returned to profitability over the summer after two consecutive quarters of losses, but its stock fell sharply in after-hours trading due to weaker-than-expected revenue and disappointing projections for the current ...

Business

Indonesia planning 10% tax on foreign digital services

Indonesia will slap a 10 percent value-added tax on the digital offerings of foreign companies from July 1, the finance ministry said, a levy that could apply to internet giants such as Spotify and Netflix.

Automotive

Volvo Cars defies slowing market to hit record sales

Volvo Cars, the Swedish luxury brand owned by China's Geely, defied a slowing global auto market to set a record for sales in the first half of the year, although US trade war tariffs and falling prices squeezed profits.

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