Nov 7 (Reuters) – Daimler Truck (DTGGe.DE), opens new tab reported a bigger-than-expected 40% drop in third-quarter operating profit on Friday, but stuck to its annual forecasts on the back of a positive momentum in Europe and a recovery in North America.
Adjusted earnings before interest and taxes (EBIT) came in at 716 million euros ($835.00 million) for the quarter, missing the 729 million euros expected in a company-compiled consensus.
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Incoming orders of 93,923 units were at the previous year’s level, backed by a positive momentum in Europe and a recovery in North America from very low levels in the second quarter, the company said in a statement.
European truck manufacturers were facing declining demand in North America due to weaker freight activity and market uncertainty caused by import tariffs.
Daimler Truck’s Trucks North America segment saw a 64% drop in operating profit to 257 million euros, but beat consensus expectations of 240 million euros.
However, its Mercedes-Benz Trucks business achieved adjusted EBIT of 319 million euros, missing consensus expectations of 329 million.
($1 = 0.8575 euros)
Reporting by Amir Orusov and Simon Ferdinand Eibach; Editing by Subhranshu Sahu
Our Standards: The Thomson Reuters Trust Principles., opens new tab
This transaction marks Renault Group’s return into Japan’s capital markets since 2022, underlying the high confidence of Japanese investors in Renault Group’s strategy and its ability to pursue and accelerate its transformation.
This issuance allows Renault Group to benefit from attractive market conditions and will be used for general corporate purposes including the refinancing of some of its upcoming maturities.
Jeddah: On the road to zero emissions, global logistics leader A.P. Moller – Maersk (Maersk) and consumer goods giant Unilever are joining forces to launch their first electric van in Saudi Arabia. This pioneering initiative is an important milestone in decarbonising logistics operations in the Kingdom, supporting Saudi Vision 2030 objectives to reduce carbon emissions by 278 million tonnes annually and increase renewable energy usage to 50%.
This launch is the beginning of a broader transformation. Both companies aim to scale electric mobility across Saudi operations and explore additional innovations, including solar-powered warehousing and intermodal transport solutions.
Driving Decarbonisation in Jeddah
The electric van will exclusively serve the BinDawood Group, one of Unilever’s key retail partners, operating within a 50 km radius and covering up to 3,500 km per month. This deployment follows Unilever and Maersk’s successful consolidation of warehouses into a single fulfilment centre at Maersk’s Logistics Park in Jeddah, already delivering a 5% emissions reduction. This reduction is enabled by the Park’s strong sustainability infrastructure, including a 64,000 sqm rooftop solar plant and an advanced cooling system using natural refrigerant (Ammonia) and seawater instead of potable water.
This is the first van deployment in our Saudi fleet, and it represents our commitment to reducing logistics-related emissions wherever feasible. This is another building block of our emission reduction plans in partnership with Maersk. The electric van, combined with solar energy charging infrastructure, means we practically reduce emissions by 100% compared to a conventional truck. We’re proud to introduce this innovation in Saudi Arabia, supporting Saudi Vision 2030 and joining global efforts. By improving efficiency and cutting emissions, we strengthen sustainability while delivering greater value to our customers.
Partnership for Sustainable Value
The initiative showcases the strength of the Maersk-Unilever partnership, with both companies working collaboratively on infrastructure readiness, operational planning, and stakeholder engagement to ensure successful implementation.
As electric vehicle technology advances and charging infrastructure expands across Saudi Arabia, we’re seeing more opportunities to deploy emission-free trucks in place of diesel units. We’re proud to partner with forward-thinking customers like Unilever, who are committed to decarbonising logistics solutions that deliver value throughout their supply chain.
Maersk currently offers low-emission trucking solutions in more than 14 countries globally, including China, India, the USA, Brazil, Chile, Peru, and several European countries. The company is committed to reaching net-zero emissions by 2040 across the entire supply chain through new technologies, alternative energy solutions, and close partnerships with customers and vendors. As part of Unilever’s commitment to achieving net zero across the value chain by 2039, the company is implementing measures designed to reduce greenhouse gas emissions from their logistics network by up to 50% by 2030. A key pillar of this strategy is the transition to electric vehicles, reinforcing Maersk and Unilever’s dedication to building a more sustainable future.
About Maersk
A.P. Moller – Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global leader in logistics services, the company operates in more than 130 countries and employs around 100,000 people. Maersk is aiming to reach net zero GHG emissions by 2040 across the entire business with new technologies, new vessels, and reduced GHG emissions fuels*.
*Maersk defines “reduced GHG emissions fuels” as fuels with at least 65% reductions in GHG emissions on a lifecycle basis compared to fossil of 94 g CO2e/MJ.
About Unilever
Unilever is one of the world’s leading suppliers of Beauty & Wellbeing, Personal Care, Home Care, Foods and Ice Cream products, with sales in over 190 countries and products used by 3.4 billion people every day. We have 128,000 employees and generated sales of €60.8 billion in 2024.
For more information about Unilever and our brands, please visit www.unilever.com.
Tom EdwardsLondon transport and environment correspondent
BBC
The congestion charge in central London is due to increase to £18 a day
Proposed changes to make electric vehicles pay the congestion charge would cause minicab fares to rise and stop people switching away from diesel and petrol, drivers say.
The plan is for owners of electric vehicles (EVs) to pay to drive in the capital’s congestion charging zone from next year.
London’s congestion charge is due to increase by 20% to £18 a day from 2 January.
Electric cars and vans had been exempt from paying the fee under a Cleaner Vehicle Discount but that will be scrapped from 2026. Transport for London (TfL) says the changes are necessary to reduce congestion due to the rising number of EVs.
From January, the drivers of EVs will have to pay the congestion for the first time
Opponents say the move will reduce the take-up of cleaner EVs and increase minicab fares and stall the move away from petrol and diesel vehicles.
TfL says the congestion charge will increase from £15 to £18 a day from 2 January “to make sure it remains effective”.
Electric vehicles will also have to pay for the first time. There will be a 50% discount for electric vans, HGVs, light quadricycles and heavy quadricycles registered for Auto Pay.
Electric cars will get a 25% discount if registered for Auto Pay, and will have to pay £13.50 a day.
From March 2027, for new applicants only, the 90% residents’ discount will also only be available only for EVs.
Minicab driver Kola Olalekan says the changes will cause Uber fares to rise
Kola Olalekan has driven an electric minicab in central London for six years. He says having to pay £13.50 a day will put other drivers off getting EVs.
He says it could also cause the fares to rise on ride-hailing apps such as Uber and Bolt as there will be fewer drivers.
“There’s going to be a drop,” he says.
“And when there’s a drop of the number of drivers available in central London, that will affect the fare that riders are going to be paying.
“There’s going to be a surge. This job is based on surge pricing. So absolutely fares are going to go up, there will be fewer Ubers and no-one will want an EV.”
London’s congestion charging zone has been in place since 2003
Edmund King, from the AA, says its research shows the majority of drivers are not quite ready to go electric – and taking away the incentive of being exempt from the congestion charge “may backfire on London and backfire on the environment”.
“Getting rid of the discount, there is no doubt it will put off many drivers,” he says.
“And when we look at congestion in central London, let’s be frank the speed of traffic has been the speed of a horse and cart for years so to be honest a few more electric vehicles isn’t going to make much difference.
“We do feel this is a negative step. Getting rid of the exemption is coming far too early.”
TfL had previously proposed to scrap the electric vehicle exemption entirely.
It says without changes to the congestion charging scheme, about 2,200 more vehicles will use the congestion charging zone on an average weekday next year, leading to increased congestion and undermining the current scheme.
In 2030 the discounts to electric vehicles will be reduced further.
From 4 March 2030 it will be reduced to 25% for electric vans, HGVs, light quadricycles and heavy quadricycles registered for Auto Pay.
The electric cars reduction will be reduced to a 12.5% discount.
A formal announcement on the proposed changes to the congestion charge is due in the next few weeks.
TOKYO – November 7, 2025 – NTT DATA, a global leader in AI, digital business and technology services, today announced it is rapidly advancing AI literacy and practical skills development within the company’s global workforce across more than 70 countries. At the core of this effort is NTT DATA’s GenAI Academy, which delivers a unified, multi-tiered approach to AI learning and professional development for employees. The initiative underscores NTT DATA’s commitment to equipping its entire workforce with the AI capabilities needed to drive responsible innovation, efficiency and growth for the business and for clients.
NTT DATA’s GenAI Academy was announced a year ago this month and has established a global standard for developing multiple levels of AI expertise. Self-paced learning, hands-on labs and applied use cases help employees translate expanded AI competency into measurable business value. Training also covers mandatory compliance with the company’s AI governance framework as well as security and risk-management policies. In addition to foundational AI training, the academy also provides mandatory advanced levels that include role-specific training tailored for specific job functions.
Last month, NTT DATA’s GenAI Academy earned a Learning and Development Gold Award in the Brandon Hall Group Excellence Awards. NTT DATA also collaborates with technology leaders and partners including Amazon Web Services, Google Cloud, Microsoft and OpenAI to extend additional learning opportunities to employees.
“AI competency is an essential new layer in business literacy, and our goal is to equip every team member with practical AI skills and responsible tools” said Yutaka Sasaki, President and CEO, NTT DATA Group. “Our GenAI Academy also helps ensure compliance with NTT DATA’s internal governance framework and policies for AI.”
“AI skills and tools represent a new form of critical infrastructure, so we’re making the necessary investments to help our people move boldly and responsibly into the digital future,” said Abhijit Dubey, President and Chief Executive Officer, NTT DATA, Inc. “By ensuring AI literacy and expertise, we are empowering team members to fully leverage our comprehensive offerings for clients, including NTT DATA’s Smart AI Agent™ Ecosystem and our partnerships with world-leading technology providers and world-class startups.”
In parallel with universal skills development, NTT DATA is deploying GenAI and agentic capabilities that integrate industry-leading AI tools with in-house solutions built on secure and compliant infrastructure. These capabilities are empowering employees to create innovative use cases within a safeguarded environment aligned with company policy and client transparency standards.
About NTT DATA
NTT DATA is a $30+ billion business and technology services leader, serving 75% of the Fortune Global 100. We are committed to accelerating client success and positively impacting society through responsible innovation. We are one of the world’s leading AI and digital infrastructure providers, with unmatched capabilities in enterprise-scale AI, cloud, security, connectivity, data centers and application services. Our consulting and industry solutions help organizations and society move confidently and sustainably into the digital future. As a Global Top Employer, we have experts in more than 70 countries. We also offer clients access to a robust ecosystem of innovation centers as well as established and start-up partners. NTT DATA is part of NTT Group, which invests over $3 billion each year in R&D. Visit us at nttdata.com
When Tesla wanted to catch the eye of British buyers, it put its cars and bright signage at a dealership in west London’s prominent Hogarth roundabout. Exposure to half a million drivers every day helped the US carmaker to become the dominant electric vehicle seller in the UK. Yet drivers passing by that site now see something different: twin Chinese brands Omoda and Jaecoo, both owned by the state-controlled manufacturer Chery.
Chinese cars are on a roll across Europe – they outsold Korean rivals in western Europe for the first time in September. That success is highly reliant on the UK. Of the half a million Chinese cars sold in western Europe between January and September, 30% were bought by Britons, according to Matthias Schmidt, a Berlin-based automotive analyst.
“Their success has been remarkable,” says Steve Young, the managing director of the Hogarth dealership, which is owned by Turkish group Çetaş Otomotiv. “The site that we have here makes a statement. It’s a flag waver for us. Every minute or so the traffic lights change, and drivers are stuck outside our window.”
Steve Young, standing by a Jaecoo vehicle at his west London dealership, says Chinese carmakers have ‘upped their game’. Photograph: Graeme Robertson/The Guardian
China’s carmakers – backed heavily by its national and regional governments – have used the transition to electric cars as an opportunity to dominate the global automotive market.
Global exports chart
Trade barriers have been raised in the EU and US and the industry is struggling globally with supply chain issues. The decision by the Netherlands to take control of Nexperia, a Chinese-owned chipmaker, has prompted tit-for-tat export controls on vital semiconductors. And Beijing’s restrictions on rare earth metals used in everything from motors to magnets have also sent shivers down car executives’ spines, as Brussels scrambles to negotiate a similar pause to last month’s US-China trade agreement.
Despite such hurdles, the UK remains resolutely open, making it a key battleground.
The sales push in Britain has been led by China’s BYD, which is expected to overtake Tesla as the world’s largest maker of battery electric vehicles this year. The UK has become BYD’s biggest market outside China, after sales in September surged tenfold compared with a year earlier.
Yet others have joined the party: state-owned Chery was actually the top-selling Chinese manufacturer in the UK in October. Its Jaecoo, Omoda and Chery brands have also targeted the UK with electric cars and hybrids, which combine a smaller battery with a petrol engine. MG has the name of a venerable UK brand, but monthly sales of its products, made by the state-owned SAIC, have overtaken those of Vauxhall, a resolutely British nameplate (albeit mostly made in Germany).
Meanwhile, Sweden-based brands Volvo and Polestar are both controlled by China’s Geely, while Great Wall Motor, Volkswagen-backed Xpeng and Stellantis-backed Leapmotor have each sold more than 1,000 cars in the UK this year, ahead of an expected barrage of product launches.
China sales chart
In the US, Chinese electric and hybrid cars face 100% tariffs. EU electric car tariffs range from 17% to 38%, depending on the manufacturer. Those are not prohibitive, and hybrids are not included (giving a perverse incentive for Chinese carmakers to sell vehicles that emit more pollution). Italy and Spain have also emerged as targets for Chinese sellers.
But the UK – a big importer of cars – has refrained from new tariffs, and the government has been keen to import electric models in order to hit carbon dioxide reduction targets.
Mike Hawes, the chief executive of the Society of Motor Manufacturers and Traders, a lobby group, says the UK wants both a vibrant domestic market and a strong manufacturing base – all underpinned by “free and fair trade”.
“UK car buyers benefit from a choice of more than 50 global brands and the market has always been open to new entrants,” he says. Chinese brands are “driving competition as more established market players demonstrate their agility, accelerating model development and reducing costs”.
Diplomatic concerns may also have played a role, although the recent tensions over alleged spying by China highlight Britain’s changeable stance towards the world’s second biggest economy.
“The biggest influence [in the UK not imposing tariffs] is there isn’t a domestic automotive manufacturer to protect,” says Tu Le, an ex-automotive worker in Detroit and Shanghai who founded Sino Auto Insights, a consultancy.
UK market share chart
Schmidt says British consumers have been more open to previous waves of foreign brands as well. In the 1980s, Margaret Thatcher as prime minister tempted the Japanese carmakers Nissan, Honda and Toyota to produce in the UK, selling it as the gateway to Europe. (That advantage was complicated 40 years later by rules of origin brought in as a consequence of Brexit.) The next wave was Korean cars, this time imported.
“History is repeating itself,” says Schmidt. Britain has become Chinese brands’ first port of call in Europe – albeit without any manufacturing footprint as yet.
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Poor quality Chinese cars used to be treated as a punchline by western executives. The joke has long worn thin. China overtook Japan as the world’s largest exporter in 2023. As well as Europe, Chinese carmakers have continued to sell in Russia, while European manufacturers have been blocked since the full-scale invasion of Ukraine in 2022. Latin America is also of increasing interest.
“There have been two waves to the Chinese entrants coming to Europe,” says Young. “Some of the initial product was not fit for the UK market. The brands generally have upped their game.”
Yet the push for scale – often backed by city regions competing with each other – has resulted in massive overcapacity in the Chinese automotive factories. The industry could theoretically make 55.5m vehicles annually, but actually used just under half that potential, according to data cited by Bloomberg from the Shanghai-based Gasgoo Automotive Research Institute.
That has led to a brutal price war in the Chinese market. The Chinese Communist party has told manufacturers to stop trying to undercut each other, fearing “involution”, or competition so intense that it could stop progress as companies enter a self-defeating spiral.
Price wars at home mean exports make even more sense. Yet Andrew Bergbaum, the global leader of the automotive and industrial practice at AlixPartners, a consultancy, says the Chinese companies that have managed to break into the European market are often selling their cars at much higher prices than at home – hardly an indicator of desperation to offload products.
“If you look at the brands that are actually exporting, they’re typically the strong brands,” Bergbaum says. “It’s more of a strategy than a dumping of capacity. The fact that they can sell at a higher price point is very attractive.”
China’s market assault comes at a time when Europe is also struggling with excess factory capacity. AlixPartners estimated that European carmakers may have eight factories too many, as they may lose as many as 2 million sales to Chinese brands in the coming years.
That excess space, coupled with a tariff incentive to build in Europe, could mean Chinese carmakers snap up sites from older rivals. That has already happened in Barcelona, where Japan’s Nissan closed its factory, only for Chery to take it over.
European politicians and carmakers have argued forcefully that Chinese carmakers have benefited from heavy subsidies that have allowed them to undercut (although western carmakers have hardly been starved of assistance from their own governments). But a key reason for the Chinese sales surge is simple. Consumers like them.
Tanya Sinclair, chief executive of Electric Vehicles UK, an industry-funded group pushing to increase battery sales, says that “UK drivers are benefiting”.
“Some names may be new, but the appeal is clear: high standards, competitive pricing, and innovation that raises the bar for everyone,” she says. “There will always be a strong place for British-built vehicles, provided they’re part of our battery-electric future. But competition and choice are what keep the market strong.”
Look inside the cars, and the draw for consumers becomes clear. Bells and whistles available in some Chinese brands range from the perhaps limited appeal of in-built karaoke apps, to more advanced technology such as driver assistance. Crucially, the manufacturers are offering many of those features at much lower prices than European premium brands.
“At the end of the day, it’s value,” says Le. “These cars are good. If I build better products that provide more value to my customer, I win.”
BEIJING, Nov. 7 — China’s total goods imports and exports in yuan-denominated terms rose to 37.31 trillion yuan (about 5.27 trillion U.S. dollars) in the first 10 months of 2025, up 3.6 percent year on year, official data showed Friday.
The growth rate slowed from an increase of 4 percent registered in the first nine months of the year, according to the General Administration of Customs.
In October alone, China’s goods imports and exports edged up 0.1 percent year on year to 3.7 trillion yuan.
Revenue Excluding Political Spend: Increased approximately 22% year over year.
Adjusted EBITDA: Approximately $317 million, or about 43% of revenue.
Video Channel Share: Around 50% of the business in Q3.
Mobile Channel Share: Low 30 percentage share of the business.
Display Channel Share: Low double-digit share.
Audio Channel Share: Around 5% of the business.
Geographic Revenue Share: North America 87%, International 13%.
Operating Expenses (Excluding Stock-Based Compensation): $457 million, up 17% from a year ago.
Adjusted Net Income: $221 million or $0.45 per diluted share.
Net Cash Provided by Operating Activities: $225 million.
Free Cash Flow: $155 million in Q3.
Days Sales Outstanding (DSOs): 92 days, up 3 days from a year ago.
Days Payable Outstanding (DPOs): 77 days, up 3 days from a year ago.
Cash and Liquidity Position: About $1.4 billion in cash, cash equivalents, and short-term investments.
Share Repurchase: $310 million used to repurchase Class A common stock in Q3.
Q4 Revenue Guidance: At least $840 million.
Q4 Adjusted EBITDA Guidance: Approximately $375 million.
Release Date: November 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
The Trade Desk Inc (NASDAQ:TTD) reported a strong revenue growth of approximately 18% year-over-year, with a 22% increase when excluding political spend.
Connected TV (CTV) remains the largest and fastest-growing channel, outpacing the overall business growth.
The company has made significant innovations, including the launch of Kokai, which has delivered impressive performance improvements such as a 94% better click-through rate compared to previous platforms.
The Trade Desk Inc (NASDAQ:TTD) has expanded its international presence, with growth outside the US outpacing domestic growth.
The company has introduced several new products and features, such as OpenPath and Audience Unlimited, which are expected to drive future growth and enhance supply chain efficiency.
Despite strong growth, The Trade Desk Inc (NASDAQ:TTD) faces challenges from large tech competitors like Google and Amazon, who focus on monetizing owned and operated inventory.
The digital advertising market remains a buyer’s market with supply significantly outstripping demand, which could pressure pricing and margins.
Some large brands, particularly in consumer products and retail, are still feeling pressure from tariffs and inflation, affecting advertising budgets.
The company is undergoing significant leadership changes, which could pose risks to operational stability and execution.
The macroeconomic environment presents uncertainties, with some sectors still experiencing pressure, potentially impacting advertising spend.
Q: Jeff, some have interpreted your past comments as if you don’t see Amazon as a competitor. Can you clarify that and discuss the competitive environment as companies like Google and Amazon evolve their DSPs? A: Jeff Green, CEO: Amazon and Google are amazing companies, but their primary advertising efforts are focused on monetizing owned and operated inventory, not the open Internet. Amazon’s DSP is mostly about buying Prime Video, with little focus on the open Internet. Our DSP focuses on data-driven buying across the open Internet, especially in high-growth areas like CTV. We deliver capabilities that they can’t match, such as UID2 for identity and deep integrations with retail data.
Q: Alex, as you’ve gotten deeper into the business, what are the top areas where you think you can drive the most impact over the next couple of years? A: Alex Kayyal, CFO: Our focus is on growth, particularly in driving ROI by allocating resources effectively and being more metrics-driven. We’re reevaluating sales incentives to align with long-term growth, expanding internationally, and targeting the mid-market. Our goal is to make the right investments for long-term durability while continuing to win market share.
Q: Jeff, you’ve made a lot of changes across the organization this year. Can you walk us through some impactful changes in talent and areas that still need work? A: Jeff Green, CEO: We’ve strengthened our foundation with new leaders like COO Vivek Kundra, CFO Alex Kayyal, and CRO Anders Mortenson. We’ve streamlined our go-to-market organization and improved coordination. We’re seeing results in international growth and consistent execution. However, we continue to invest in training and internal systems to ensure consistency and excellence across teams.
Q: Jeff, what are you seeing in terms of broader advertising and macro environment trends that will benefit The Trade Desk next year? A: Jeff Green, CEO: We’re seeing strong momentum and a shift towards data-driven marketing. Brands are scrutinizing walled gardens more and turning to us for real business outcomes. The open Internet and our platform are critical to their futures. We expect a buyer’s market to continue, with large CTV content owners relying on independent partners like us.
Q: Jeff, are you seeing an impact from AI search on available publisher inventory, and how are you helping publishers navigate that? A: Jeff Green, CEO: We handle about 20 million ad impression opportunities per second, and AI’s impact on inventory supply is minimal. The open Internet is much larger than just browser activity, including CTV, music, sports, and journalism. AI will not significantly change the premium open Internet’s role in advertising.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
The Company’s consolidated earnings forecast for the fiscal year ending March 31, 2026, has been revised. For further details, please refer to the 1H FY2025 Financial Results presentation materials, which have been disclosed separately.
[Mitsubishi Logisnext] Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2026
