Fibra Next Raises $431 Million, Mexico's Largest IPO Since 2018
The company, a carveout of Fibra Uno Administracion SA 's industrial properties, sold shares known as CBFIs at 100 pesos each, according to two people familiar with the transaction.
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Yahoo
25 minutes ago
- Yahoo
Toyota reports a 37% drop in profit, cuts its forecast due to Trump's tariffs
TOKYO (AP) — Toyota's profit plunged 37% in the April-June quarter, the company said Thursday, cutting its full year earnings forecasts largely because of President Donald Trump's tariffs. The Japanese automaker said it based its report on the assumption that Trump's tariffs on exports from Japan, including autos, would be 12.5% starting this month. As of now they stand at 15%. The world's top automaker also makes vehicles in Mexico and Canada. Toyota's profit in the last quarter totaled 841 billion yen, or $5.7 billion, down from 1.33 trillion yen in the same period the year before. Its quarterly sales rose 3%. The status of those exports is unclear since Mexico and Canada are beneficiaries of the U.S. Mexico Canada Agreement, renegotiated from a 1990s pact during Trump's first term in office, that eliminated most tariffs and trade barriers between the three countries. Toyota Motor Corp.'s April-June profit totaled 841 billion yen ($5.7 billion), down from 1.33 trillion yen in the same period of 2024. Quarterly sales rose 3% to 12 trillion yen ($82 billion). Toyota said the tariffs cost its quarterly operating profit 450 billion yen ($3 billion). Cost reduction efforts and the negative impact of an unfavorable exchange rate also hurt its bottom line. The company, which makes the Camry sedan and Lexus luxury models, forecast a 2.66 trillion yen ($18 billion) profit for the full fiscal year ending in March 2026, down from an earlier forecast for a 3.1 trillion yen ($21 billion) profit. Toyota earned nearly 4.8 trillion yen in the previous fiscal year. 'Despite a challenging external environment, we have continued to make comprehensive investments, as well as improvements such as increased unit sales, cost reductions and expanded value chain profits,' Toyota said in a statement that outlined its efforts to minimize the impact of the tariffs. At the retail level, Toyota sold 2.4 million vehicles globally, with sales growing in Japan, North America and Europe from the previous year, when global retail totaled 2.2 million vehicles. Analysts say Toyota is likely among the worst hit by the tariffs among global companies, even compared with other Japanese automakers. ___ Yuri Kageyama is on Threads: Sign in to access your portfolio
Bloomberg
28 minutes ago
- Bloomberg
UK House Prices Rise Most in Six Months, Halifax Says
UK house prices rose at the fastest pace since the start of the year, suggesting that the market is stabilizing after the expiry of a tax break discouraged prospective buyers, according to one of the country's top lenders. The average value of a home rose 0.4% to £298,237 ($398,730), after prices gained just 0.1% the previous month, Halifax said Thursday. It was the biggest increase since January and left values 2.4% higher than a year earlier.
Bloomberg
28 minutes ago
- Bloomberg
Adani Wins Bid for $3 Billion Coal-Fired Power Plant in Bihar
Billionaire Gautam Adani will invest $3 billion to build and operate a 2,400 MW coal power generation plant in the eastern state of Bihar as his port-to-energy conglomerate continues to expand across businesses in the domestic market. Adani Power Ltd. won a tender from Bihar State Power Generation Co. with a bid of 6.075 rupees ($0.07) per unit, the lowest, in a 'tightly contested process,' the company said in a statement Thursday. The power unit of Adani Group will get coal allocation from government to fuel the plant that will help the utility move closer to its aim of doubling generation capacity by 2030.
