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Chinese carmaker BYD posts 94pc drop in half year profit

The Chinese car and battery maker BYD, suffered a 94 percent drop in earnings for the first half of the year and warned of further declines.

The company blamed the slide on slowing car sales both in its home Chinese market and internationally.

Shenzhen-based BYD is 10 percent owned by the billionaire US investor Warren Buffett.

(Source: BBC News )