- Turkish govt defends tax plan to fund defence industry
- Oil prices tumble on easing Middle East fears
- Eidevall quits as Arsenal Women head coach
- US, Philippines launch war games after China's Taiwan drills, ship collision
- Swedish prosecutor confirms 'rape' probe without naming Mbappe
- England dismiss Ayub but Pakistan reach 173-3 at tea in second Test
- Israel vows to put 'national interest' first in response to Iran attack
- Oil prices hit by easing Middle East fears, most Asian markets rise
- Mbappe-PSG salary row faces hearing as France captain cited in 'rape' report
- K-pop star tells South Korea lawmakers of workplace bullying
- Ex-Wallabies captain Elsom denies wrongdoing after arrest warrant
- Pakistan 79-2 at lunch in second England Test after Leach strikes
- Hopes pinned on peace across Taiwan Strait after drills
- Valencia fans leave Singapore with 'stern warning' after protest
- Falling sales cause sour grapes for iconic Portugal wine
- Belgian pathologist and literary star gives 'voice to the dead'
- Ethiopia's 'korale' recyclers turn waste into money
- Italy row, AI in focus at world's biggest book fair
- US, Philippines launch war games a day after China's Taiwan drills
- Scotland lock Gray signs for Japan's Toyota
- Allen and Bills foil Rodgers, outlast Jets 23-20
- North Korea blows up roads connecting it to the South
- East Timor fights new battles 25 years after independence vote
- Japan election campaigns kick off for Oct 27 vote
- Home runs propel Mets, Yankees to MLB playoff victories
- Taiwan detects record 153 Chinese military aircraft after drills
- Oil prices drop on easing fears over Middle East, most markets rise
- Reoxygenating oceans: startups lead the way in Baltic Sea
- North Korea's Kim holds security meeting over drone flights
- Cars, chlamydia threaten Australian koalas
- Small town India's DIY film industry comes to London
- Harris slams Trump over military threat to 'enemy from within'
- Can biodiversity credits unlock billions for nature?
- Texas poised to execute autistic man for 'shaken baby' death
- King Charles III heads to Australia and Commonwealth meeting
- In the Colombian Pacific, fighting to save sharks
- Argentina's Matera banned for Italy Test after red card
- Vientos grand slam propels Mets in series-tying win over Dodgers
- Supporters of ex-Bolivia leader Morales block roads over possible arrest
- Germany into Nations League quarters, France and Italy win
- Nagelsmann lauds 'supercharged' Germany's 'best half of the year'
- 'Pandas are coming': Two new bears depart China for US capital
- Dodgers pitcher Kershaw plans to return for 2025
- Mbappe 'investigated for rape' in Sweden: report
- Revived Italy sweep past Israel in Nations League amid high security
- Trudeau slams India as tensions soar over Sikh separatist's murder
- Harris courts Black voters as Trump makes inroads
- Wall Street stocks hit fresh records as oil prices slide
- Nigerian team return home after boycotting AFCON qualifier in Libya
- Nigeria refuse to play in Libya as Algeria, Cameroon qualify
Mercedes profits fall due to lower sales
German carmaker Mercedes-Benz said Thursday that its profits fell in the third quarter due to a drop in vehicle deliveries amid shortages of some parts.
Net profits came in seven percent lower, at 3.7 billion euros ($3.9 billion), in the July to September period, the company said in a statement.
It was slightly better than a prediction by analysts surveyed by financial data firm FactSet, who had forecast a figure of 3.4 billion euros.
Revenue fell 1.4 percent to 37.2 billion euros, partly because passenger car sales were around five percent lower in the quarter due to a shortage of some parts.
While supply chain problems that began during the coronavirus pandemic have largely eased for most carmakers, they still face occasional problems that can slow production.
Sales of top-end Mercedes dropped by 11 percent in the third quarter, while sales of fully electric vehicles jumped 66 percent.
There was some good news, with higher prices for cars and a rise in sales of premium vans.
This "helped to partially offset higher inflation, currency effects and supply-chain related costs", the carmaker said in a statement.
Mercedes-Benz left its outlook for 2023 unchanged, with revenue and operating profit seen at the same level as last year.
O.Norris--AMWN