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...In south-east Asia where Toyota has had a decades-long stronghold, BYD’s wide range of offerings is already proving a successful strategy in winning over market share....
...Japan’s Topix fell 0.8 per cent in early trading ahead of earnings releases from Toyota Motor and Mitsubishi Corporation, which were both down 0.8 per cent. South Korea’s Kospi shed 0.6 per cent....
...The carmaker was down about 4 per cent mid-afternoon as concerns grew over rigged test results at its Daihatsu subsidiary....
...Toyoda, who stepped down as president and chief executive last year, told journalists in Nagoya that he wanted to recreate a vision for the group companies....
...They include vehicles manufactured for Toyota, Mazda and Subaru. Toyota has been betting on south-east Asia, which it hopes will propel growth....
...Oil prices rose above $90 a barrel and US stocks tumbled as flaring tensions in the Middle East sent tremors through markets....
...It forecast pre-tax losses of between £340mn and £360mn for the six months ending in March, down £50mn from the year before....
...China stand to lose from the conflict’s expansion as it would significantly impact energy exports from the region, the price of oil, and the global economy,” said Ayham Kamel, practice head for the Middle East...
...Could cautious optimism on the global economy be derailed by the weekend’s events in the Middle East?...
...The old rules of the Middle East have been overturned since Hamas’s October 7 assault, which killed 1,200 people, with another 250 taken hostage....
...Chinese stocks rose on Monday morning while other Asian markets dropped amid rising tensions in the Middle East following an Iranian missile attack on Israel....
...Two years ago people would have said there is no way Toyota would sell down their cross-shareholdings like this, and the fact they have done it sends a very clear signal to the rest of Japan,” said Carl...
...Ukraine shot down two Russian command and control aircraft in the south-east of the country late on Sunday, Ukraine’s commander-in-chief of the armed forces Valeriy Zaluzhny confirmed Monday morning....
...“The Middle East is going to be volatile forever. But if Ukraine loses to Russia, that would be a step change for Europe and Nato. Where do our strategic priorities really lie?”...
...In its latest regional economic assessment, the fund said it expected growth in the Middle East, north Africa and Pakistan to be a “lacklustre” 2.6 per cent in 2024, down from 3.3 per cent in its previous...
...It is unlikely that commodity prices would continue to climb should central banks start to play down the prospect of interest rate cuts....
...Brent crude was down 0.6 per cent on the day at $86.57 a barrel, having earlier climbed above $90. Stock markets fell, with the Stoxx Europe 600 index down 0.4 per cent....
...Traditionally, oil prices go up a lot and stock markets go down a lot. Back in the 1973-74 Middle East crisis, in association with an Opec embargo, oil rose 300 per cent. The S&P 500 index halved....
...The IDF also said that 25 of the 30 cruise missiles heading its way were shot down by Israeli jets outside the country’s borders....
...Thanks for reading, Amanda What’s keeping oil prices steady as Middle East tensions escalate?...
...Israeli officials say a response is all but certain, despite western pleas for restraint, the impact it could have on the conflict in Gaza, and the potential that any retaliation could push the Middle East...
...But the former Italian premier’s proposal hasn’t gone down well with the EU’s competition gatekeepers, writes Javier Espinoza....
...Biden said that the US military had helped Israel take down “nearly all of the incoming drones and missiles” fired by Iran and its proxies in Yemen, Syria and Iraq....
...For all its performative support for them, Iran’s attack may well push the war there down the global agenda just as calls for an immediate ceasefire and greater humanitarian access were gaining momentum....
...Twenty-five of 30 cruise missiles were shot down before crossing the nation’s borders and most of 120 ballistic missiles were destroyed by Israel’s air defence systems, according to the Israel Defense Forces...
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