Continental AG has revised its sales outlook for the year, anticipating revenues of up to €42 billion ($45 billion), down from a previous estimate of €42.5 billion. This adjustment is attributed to decreased demand from industrial clients in Europe and North America, as evidenced by a decline in sales and earnings from its Contitech business, which specializes in non-tire rubber and plastic components.
In the UK, NatWest Group Plc has executed a buyback of £1 billion ($1.29 billion) in shares from the government. This transaction involved the repurchase of 262.6 million shares, reducing the UK Treasury's voting rights in the bank from approximately 14.2% to 11.4%.
China's trade surplus is projected to reach a new record this year, with estimates suggesting it could approach $1 trillion. The goods trade surplus for the first ten months of the year has surged to $785 billion, marking a nearly 16% increase compared to 2023. This trend raises concerns among major global economies due to the potential for escalating trade tensions.