Latest news with #962
Economic Times
13-05-2025
- Business
- Economic Times
Is the ghost of past subsidies, under-recoveries troubling IndianOil?
What does one expect from an oil marketing major when crude is on a downtrend and retail fuel prices are still high? A robust financial. On paper, that should have been the case with Indian Oil Corporation Limited (IOCL). And yet, the numbers tell a different story. IOCL's net profit for FY25 collapsed to INR12,962 crore – a whopping 67% plunge from INR39,619 crore the year before. Even in the fourth quarter of FY25, when crude prices stabilised
Time of India
13-05-2025
- Business
- Time of India
Is the ghost of past subsidies, under-recoveries troubling IndianOil?
What does one expect from an oil marketing major when crude is on a downtrend and retail fuel prices are still high? A robust financial. On paper, that should have been the case with Indian Oil Corporation Limited (IOCL). And yet, the numbers tell a different story. IOCL's net profit for FY25 collapsed to INR12,962 crore – a whopping 67% plunge from INR39,619 crore the year before. Even in the fourth quarter of FY25, when crude prices stabilised
TimesLIVE
06-05-2025
- Automotive
- TimesLIVE
Ford pulls guidance, warns it will take $1.5bn hit from Trump's tariffs
Ford Motor suspended its annual guidance on Monday due to uncertainty about US President Donald Trump's tariffs, saying the levies would cost the company about $1.5bn (R27,417,600,000) in adjusted earnings before interest and taxes. 'It's still too early to fully understand our competitors' responses to these tariffs,' Ford CEO Jim Farley told analysts on Monday evening. 'It's clear, however, that in this new environment, carmakers with the largest US footprint will have a big advantage.' Ford reported this after the close of the US stock trading session, and its shares fell about 2.3% in after-hours trade. The tariffs are expected to add $2.5bn (R45,700,998,500) in costs overall for the year, mainly related to expenses from importing vehicles from Mexico and China, Ford executives said. The carmaker suspended automotive exports to China, but still imports vehicles such as its Lincoln Nautilus from the country. Company executives said it has been able to reduce about $1bn (R18,280,400,000) of that cost through various actions, including transporting vehicles from Mexico to Canada using bond carriers, so they are not subject to US tariffs. In February, the Dearborn, Michigan carmaker projected earnings before interest and taxes of $7bn (R127,962,800,000) to $8.5bn (R155,379,986,400) for 2025. That forecast did not take tariffs into account. The carmaker's CFO Sherry House said it was on track to meet that guidance, excluding the fallout from tariffs. While rivals such as General Motors recently provided updated guidance, Ford executives said they have suspended the company's outlook until they have more clarity about the effect of retaliatory tariffs, as well as how consumers may react to price increases. 'It's a bold move for them to withdraw guidance when GM gave revised guidance including tariffs, though to be fair things are very uncertain,' said Morningstar research analyst David Whiston.
Yahoo
18-04-2025
- Automotive
- Yahoo
This Street-Legal Porsche 962 Race at Le Mans. Now It Can Be Yours.
What's better than a classic race car? One that can be driven on public roads, of course. A Porsche 962 that raced at Le Mans is currently up for sale on The vehicle's competitive history alone would make it noteworthy, but this example is also street-legal. That's right, you can drive it to and from your next track day. More from Robb Report This 19th-Century Townhouse in Scotland Was Decked Out by King Charles III's Go-To Decorator Ultra-Luxury Homes Take 400% Longer to Sell Than Median-Priced Homes: Study Bulgari Just Opened the World's Largest Luxury Jewelry Manufacture The 962 is one of the great race cars in Porsche history. The sports prototype was introduced in 1984 as the replacement for the 956. It may not have reached the heights of its predecessor, which won the 24 Hours of Le Mans, but the 962 took the checkered flag at endurance racing's main event two times and won 19 constructors's championships across various series. Privateer team Kremer Racing built and campaigned this particular 962, chassis no. CK6-88, in 1988. It competed on multiple fronts that season, including the FIA World Sports Prototype Championship, the FIA Coupe d'Europe Interserie, and the FIA World Challenge. It's not one of the most successful 962s, but Kris Nissen drove it to victory at Hungaroring, Hockenheim, and Wunstorf. It also came in 9th at Le Mans that year, and Mario and Michael Andretti drove it during the final race of the World Challenge season. It was retired from international competition at the end of that year, but popped up at historical races in the decades since. Today, the car wears the same red and white Kenwood livery it did when it competed at Le Mans in 1988. The vehicle has been rebuilt since, but is still powered by a period-appropriate 3.0-liter twin-turbocharged flat six, according to the sale listing. That mill makes an estimated 740 hp, which is sent to the rear axle via a five-speed manual. The car's current owner, Joe Macari, employed Coventry-based BBM Motors to convert it for road driving earlier this decade. This process involved equipping the vehicle with a handbrake, a headset for driver-passenger communication, and a traction control system. The 962 Kremer, which is currently located in England, is available to purchase now through Macari is asking £999,950, or roughly $1.3 million, for the car. That's a lot, of course, but at least you won't have to pay a prohibitive tariff should you want to import it to the of Robb Report The 2024 Chevy C8 Corvette: Everything We Know About the Powerful Mid-Engine Beast The World's Best Superyacht Shipyards The ABCs of Chartering a Yacht Click here to read the full article.
Yahoo
18-04-2025
- Automotive
- Yahoo
This Street-Legal Porsche 962 Race at Le Mans. Now It Can Be Yours.
What's better than a classic race car? One that can be driven on public roads, of course. A Porsche 962 that raced at Le Mans is currently up for sale on The vehicle's competitive history alone would make it noteworthy, but this example is also street-legal. That's right, you can drive it to and from your next track day. More from Robb Report This 19th-Century Townhouse in Scotland Was Decked Out by King Charles III's Go-To Decorator Ultra-Luxury Homes Take 400% Longer to Sell Than Median-Priced Homes: Study Bulgari Just Opened the World's Largest Luxury Jewelry Manufacture The 962 is one of the great race cars in Porsche history. The sports prototype was introduced in 1984 as the replacement for the 956. It may not have reached the heights of its predecessor, which won the 24 Hours of Le Mans, but the 962 took the checkered flag at endurance racing's main event two times and won 19 constructors's championships across various series. Privateer team Kremer Racing built and campaigned this particular 962, chassis no. CK6-88, in 1988. It competed on multiple fronts that season, including the FIA World Sports Prototype Championship, the FIA Coupe d'Europe Interserie, and the FIA World Challenge. It's not one of the most successful 962s, but Kris Nissen drove it to victory at Hungaroring, Hockenheim, and Wunstorf. It also came in 9th at Le Mans that year, and Mario and Michael Andretti drove it during the final race of the World Challenge season. It was retired from international competition at the end of that year, but popped up at historical races in the decades since. Today, the car wears the same red and white Kenwood livery it did when it competed at Le Mans in 1988. The vehicle has been rebuilt since, but is still powered by a period-appropriate 3.0-liter twin-turbocharged flat six, according to the sale listing. That mill makes an estimated 740 hp, which is sent to the rear axle via a five-speed manual. The car's current owner, Joe Macari, employed Coventry-based BBM Motors to convert it for road driving earlier this decade. This process involved equipping the vehicle with a handbrake, a headset for driver-passenger communication, and a traction control system. The 962 Kremer, which is currently located in England, is available to purchase now through Macari is asking £999,950, or roughly $1.3 million, for the car. That's a lot, of course, but at least you won't have to pay a prohibitive tariff should you want to import it to the of Robb Report The 2024 Chevy C8 Corvette: Everything We Know About the Powerful Mid-Engine Beast The World's Best Superyacht Shipyards The ABCs of Chartering a Yacht Click here to read the full article.
