BEIJING - Electric battery giant CATL saw its China market share tumble to the lowest in more than a year in September, data showed, underscoring the challenges it faces from smaller rivals and weakener demand in the world's largest electric vehicle market.
Second-ranked BYD and third-placed CALB both boosted their shipments in China by more than 71% in the first nine months of this year, far outpacing CATL's 18.8% growth, according to the data. CATL, which counts Tesla as its biggest client, is expected to report 14.6 billion yuan in third-quarter net profit, according to one estimate provided by LSEG.
Smead Capital drew parallels between today's stock market and the Tulip Mania of 1636 and the South Sea Bubble of 1720. -- A joint venture tied to a Pacific Investment Management Co. fund surrendered a portfolio of 20 hotels with a $240 million mortgage.
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