Shares of luxury EV maker Lucid Group ( LCID ) dropped after the company announced a nearly $1.75 billion capital raise last week. Lucid CEO Peter Rawlinson told CNBC the move was intended to prevent the need for a “going concern” disclosure. In other words, the company’s financial runway is dwindling. The CEO also said that investors should have seen...

JOHANNESBURG (Reuters) - The speed at which Anglo American shifts to becoming a copper-focused miner may well dictate its ultimate fate - survival as an independent operator, or absorption by a bigger rival such as BHP Group ( BHP ), which earlier this year failed to buy the group. BHP walked away from a $49 billion bid to acquire Anglo...

Dover Corporation ( DOV ) shares are trading lower on Thursday after the company reported third-quarter results. Revenue stood at $1.984 billion, an increase of 1% year-over-year, missing the consensus of $2.045 billion.  Segment earnings margin expanded to 22.6% from 21.9% a year ago. Total adjusted segment EBITDA margin expanded to 24.4% from 23.7% a year ago. Booking increased 5.6% Y/Y to $1.853 billion in the quarter. Adjusted EPS was $2.27, up 6% over...

MAPUTO, Oct 24 (Reuters) - Mozambique's ruling party Frelimo has retained power in this month's national election, extending its five-decade rule in the Southern African state as the opposition cried fraud. Frelimo's Daniel Chapo, 47, will succeed President Filipe Nyusi to become Mozambique's fifth president since its independence from Portugal in 1975. Nyusi is stepping down after serving the maximum...