Luxury car manufacturer Aston Martin has seen its shares plummet to a two-year low in London after it raised £111 million from investors and issued a profit warning. The company, which has been struggling with softening demand in China, raised the funds through new shares and debt in order to invest in growth opportunities and its electrification strategy. Aston also announced delays in the delivery of its Valiant luxury car, which will impact its profits this year.
Despite these challenges, executive chairman Lawrence Stroll remains confident in the company’s long-term value and resilience. However, shares are down 97% since its stock market float in 2018. In other news, the French stock exchange has dropped to a three-month low, and the competition watchdog in the UK has found that loyalty card pricing at supermarkets may not always be the cheapest option for consumers.
Donald Trump’s proposed tariffs on Canada, Mexico, and China continue to have ripple effects on the global economy, with Bank of England officials warning of potential risks to economic growth. Trade experts fear a global trade war if other countries retaliate, and the UK faces a dilemma on how to navigate its trade relationships in light of these developments. Today, there will be a flurry of economic data released in the US, providing a comprehensive look at the state of the economy before the Thanksgiving holiday.
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