Daimler Truck slashes key profit forecast on North America weakness
The German company now expects adjusted earnings before interest and taxes (EBIT) in a range of 3.6 billion euros to 4.1 billion euros ($4.1 billion to $4.7 billion), compared with 4.7 billion euros reported for 2024.
That would mark a drop of as much as 23%. The company previously forecast that adjusted EBIT for 2025 would be just 5% lower, and could even rise 5%.
($1 = 0.8755 euros)
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BBC News
9 minutes ago
- BBC News
I'm not making easy for myself
Lando Norris admitted after his victory in the Hungarian Grand Prix that he was "not making life very easy" for himself in his title battle with team-mate Oscar win closes the gap to his McLaren team-mate in the championship to nine points going into Formula 1's summer break and was his third win in the last four it came after he dropped to fifth place on the first lap after compromising himself trying to pass Piastri at the first said: "It's already tough, and it's going to continue to be tough. It's pretty small margins between us. I'm sure there's some things I can do better on and improve on, and I'm sure he'll probably say a similar thing."It's going be a long second half of the season, I'm sure, but at the same time, I'm looking forward to a nice break, a bit of time to rest and try and come back even better because there are those things I need to improve on and want to improve on."I'm not giving myself the best opportunities. Even though the results have looked great, I'm not making my life very easy for myself at the minute. So if I can work on those things, then I'll be in a better place."Hungary was the latest in a series of races in which Norris has had small issues that have cost him in the championship so far this qualified third at the Hungaroring, behind Ferrari's Charles Leclerc and Piastri, and lost positions to Mercedes' George Russell and Aston Martin's Fernando Alonso after Piastri held him tight to the inside on the run to the first had to switch to a one-stop tyre strategy to try to recover ground, and it paid off, even though McLaren did not know when they made the decision whether he would be able to make it work."It's one of the first ones I've won in probably this manner," Norris said. "I've not won many races, so most circumstances are still new, but I think it's the first one where doing a completely alternate strategy to most, giving myself that opportunity, worked out."It's a tough strategy to do, but it worked out. That's the most important thing. And, honestly, I didn't really think it was going to work for the majority of that second stint. But with every lap, I kind of gained more confidence that it was going to be closer and closer. So, yeah, definitely a rewarding one."It was Norris' fifth win of the season, compared to Piastri's six, and the two drivers expect a close fight to the end of the season when the championship resumes at the Dutch Grand Prix on 29-31 said: "It's going to be a tough second half of the year. It has been tough already, and the margins are very fine. So, I think it's going to be great watching."McLaren team principal Andrea Stella said the team would continue to allow them to race fairly between themselves."We are McLaren Racing," Stella said. "We bring the value of racing into Formula 1. So we want to give great racing for Formula 1."We want to give our two drivers the possibility to utilise, express their talent, pursue their aspirations, their personal success, and this needs to happen within the boundaries of the team interest, and the fairness, the sportsmanship, and the respect for one another. For me, this is what I see."These are the values of McLaren, and it's going to be, hopefully, a matter between the two McLaren drivers, even if we saw Ferrari today was in the competition for the victory for two thirds of the race."I think we have a very entertaining and interesting final part of the season."
Reuters
9 minutes ago
- Reuters
Hamilton still down after difficult Hungarian weekend
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The Guardian
40 minutes ago
- The Guardian
White House officials rush to defend Trump after shaky economic week
Donald Trump administration officials fanned out on Sunday's US political shows to defend the president's policies after a bruising week of poor economic, trade and employment numbers that culminated with the firing of labor statistics chief Erika McEntarfer. US trade representative Jamieson Greer said Trump has 'real concerns' about the jobs numbers that extend beyond Friday's report that showed the national economy added 73,000 jobs in July, far below expectations. Job growth numbers were revised down by 285,000 for the two previous months as well. On CBS News's Face the Nation, Greer defended Trump's decision to fire McEntarfer, a respected statistician, saying: 'You want to be able to have somewhat reliable numbers. There are always revisions, but sometimes you see these revisions go in really extreme ways.' He added: 'The president is the president. He can choose who works in the executive branch.' But William Beach, who served as Trump's commissioner of the Bureau of Labor Statistics (BLS) in his first presidency, warned that McEntarfer's dismissal would undermine confidence in the quality of US economic data. The BLS gave no reason for the revised data but noted that 'monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors'. 'This is damaging,' Beach said on Sunday on CNN's State of the Union. 'I don't know that there's any grounds at all for this firing. 'And it really hurts the statistical system. It undermines credibility in BLS.' McEntarfer on Friday published a statement on social media reacting to her dismissal, calling it the 'honor my life' to have served as BLS commissioner. She said the BLS employs 'many dedicated civil servants tasked with measuring a vast and dynamic economy'. 'It is vital and important work, and I thank them for their service to this nation,' McEntarfer's statement on the Bluesky platform said. Uproar over McEntarfer's firing has come as a series of new tariff rates are due to come into effect this month. While the president has predicted a golden age for the US economy, many economists warn that higher import tariffs could ultimately weaken American economic activity. On CBS, Greer said that Trump's tariff rates are 'pretty much set' and unlikely to be re-negotiated before they come into effect. The first six months of Trump's second terms have been characterized by a seesawing of tariff rate announcements that earned the president the moniker on Wall Street of Taco – 'Trump always chickens out'. But last week he issued an executive order outlining tariff modifications for dozens of countries after he had twice delayed implementation. Yet Greer also said many of the tariff rates announced 'are set rates pursuant to deals'. 'Some of these deals are announced, some are not, others depend on the level of the trade deficit or surplus we may have with the country,' he said. On NBC's Meet the Press, the national economic council (NEC) director, Kevin Hassett, said modified US tariff rates were now 'more or less locked in, although there will have to be some dancing around the edges about exactly what we mean when we do this or that'. Asked if tariff rates could change again, he said, 'I would rule it out because these are the final deals.' On Fox News Sunday, Hassett said he also supported McEntarfer's dismissal. 'I think what we need is a fresh set of eyes at the BLS, somebody who can clean this thing up,' he remarked. But former treasury secretary Larry Summers told ABC's This Week that McEntarfer's firing was 'way beyond anything that Richard Nixon ever did', alluding to the late former president who resigned in 1974 over the Watergate scandal. Summers said Trump's claim that the poor job numbers were 'phony' and designed to make him look bad 'is a preposterous charge'. 'These numbers are put together by teams of literally hundreds of people following detailed procedures that are in manuals,' Summers said. 'There's no conceivable way that the head of the BLS could have manipulated this number. The numbers are in line with what we're seeing from all kinds of private sector sources.' Summers placed McEntarfer's firing, Trump's pressure on Jerome Powell, the Federal Reserve chair, to lower interest rates, and the strong-arm tactics that the administration has aimed at universities, law firms and media institutions in the same bucket. 'This is the stuff of democracies giving way to authoritarianism,' Summers said. 'Firing statisticians goes with threatening the heads of newspapers. 'It goes with launching assaults on universities. It goes with launching assaults on law firms that defend clients that the elected boss finds uncongenial. This is really scary stuff.'
