00:00As investors navigate an increasingly uncertain market environment,
00:04corporate earnings and company updates remain key indicators of business health and future prospects.
00:09Here's a round-up of the latest corporate developments from Overnight that could help shape your investment decisions today.
00:16Huawei launched its new flagship foldable smartphone series on Monday, September 7,
00:21as it seeks to defend its lead in the Chinese market for premium handsets against Apple and Xiaomi,
00:27both of which are also unveiling new products.
00:30Phones in the new Mate XT2 series, which fold out twice to open into a tablet-sized screen,
00:36feature Huawei's new Kirin 9050 Pro chip.
00:40But they are not cheap. Prices start from RM19,999, which is $2,980,
00:48with the most expensive version, costing RM24,999, which is $3,725.
00:57Sales will start on September 12.
01:00Some customers cited the device's larger display and portability as potential advantages,
01:06while another said its price could be difficult for many consumers to accept.
01:12The International Atomic Energy Agency, IAEA, confirmed the restoration of off-site power
01:19at the Russian-controlled Zaporizhia nuclear power plant in the southeastern Ukraine on Monday.
01:25Russia's Rosatom State Nuclear Corporation said that power has been restored via the Ferus Plavna power line.
01:32The plant has been without external power since August 20 and has relied on emergency diesel generators
01:39to cool its vital safety systems.
01:42A local ceasefire broker by the IAEA took effect on Saturday, September 5,
01:47to allow repairs to restore external powers.
01:50The plant is operating as noble, Rosatom Chief Alizade Likachev said in a statement.
01:59British luxury carmaker Jaguar Land Rover said on Monday,
02:03it would cut around 4,000 jobs globally over the next two years
02:07as part of a broader plan to reduce costs and improve competitiveness.
02:11The manufacturer, which has major sights in central England,
02:15said it was targeting £1.7 billion, which is $2.30 billion of savings,
02:21lowering its break-even point towards 300,000 vehicles.
02:25JLR employs about 30,000 in the UK out of a global workforce of about 40,000.
02:31Owned by India's Tata Motors, the company confirmed the cuts
02:35as Finance Minister John Healy delivered a speech in nearby conventry
02:39focused on boosting economic growth.
02:42The company said it was launching five new products over the next 12 months
02:46and that the changes would support investment of £15 until £18 billion
02:50over the next five years in electrification, digital technologies,
02:55advanced manufacturing and enhanced customer experience.
02:59Business Minister Jonathan Reynolds said on Sunday
03:02he would meet Chief Executive PB Balaji this week
03:05to discuss the planned job cuts following media reports of the plans.
03:15Business Minister NASA
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