Siemens and Alstom’s plan to create a European rail champion collapsed on Wednesday after EU regulators rejected the deal, prompting Germany and France to call for an overhaul of EU competition policy to better meet global challenges.
Volvo Cars said on Wednesday it would recall 167,000 of its XC60 model vehicles due to a possible fault with the electric tailgate mechanism.
A $2 billion effort by China’s Huawei to address security issues raised in a British government report last year will take between three and five years to produce results, according to a company letter to British lawmakers seen by Reuters.
Europe should change its competition rules to facilitate cross-border mergers and create European champions which can compete with rivals from China and the United States, German Economy Minister Peter Altmaier said on Wednesday.
Eli Lilly and Co cut its 2019 profit forecast on Wednesday, hit by a recent trial failure of conditionally approved cancer treatment Lartruvo and costs related to its pending acquisition of Loxo Oncology.
Private equity firm Carlyle Group LP on Wednesday reported a 35 percent rise in distributable earnings for the final three months of 2018, supported by a rise in the fees it earns on the money it manages for investors.
Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent increase in quarterly operating profit buoyed by rising valuations for its technology investments.
Spotify, the world’s most popular paid music streaming service, reported an unexpected fourth-quarter operating profit on Wednesday but its sales growth was well below expectations and it said it sees a loss of 200-360 million euros in 2019.
Uniper said on Wednesday nothing was off limits in fresh talks with Finland’s Fortum, its top shareholder, renewing investor hopes for a full takeover of the 9.7 billion euro ($11.1 billion) German energy group.
Spotify Technology SA on Wednesday reported a 30 percent rise in fourth-quarter revenue, as the music streaming company signed up more paid subscribers.
Siemens said it regretted the European Commission’s decision to block the merger of its rail business with France’s Alstom and would now assess “all options” for the future of its own train operations.
Japan’s top steelmaker Nippon Steel & Sumitomo Metal Corp on Wednesday warned its annual profit would be 6 percent less than previously forecast, citing lower crude steel output for the financial year ending on March 31.
Siemens and Alstom’s plan to create a European rail champion collapsed on Wednesday after EU antitrust regulators rejected the deal, saying that it would have hurt competition and led to higher prices for consumers.
Daimler Chief Executive Dieter Zetsche on Wednesday said the carmaker is in talks about deepening its cooperation with China’s Geely, even as German politicians draw up measures to protect German industry from foreign rivals.
Switzerland’s Roche will donate its new hemophilia A drug Hemlibra to a World Hemophilia Federation program, it said on Wednesday, joining rivals who also back the effort to help patients in developing countries who face treatment hurdles.
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