Jollibee Foods Corp , Philippines’ largest food service network operator, is buying U.S. brand Coffee Bean & Tea Leaf (CBTL) for $100 million as part of an expansion outside its home market.
Luxury carmaker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags triggered a 1.56 billion euros ($1.74 billion) loss before interest and taxes in the second quarter.
U.S. ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe’s $500 billion trucking market.
Global shares crept higher on Wednesday as prospects of fresh China-U.S. trade talks drew a guarded welcome from investors, while dour data on euro zone economic activity hit the euro ahead of a European Central Bank policy meeting.
Deutsche Bank reported a bigger than forecast quarterly loss of 3.15 billion euros ($3.5 billion) because of major costs stemming from its efforts to reshape its business.
Daimler has no plans to spin off its trucks division or to pursue a merger with BMW as a way to raise the company’s share price, Chief Executive Ola Kaellenius said on Wednesday.
Caught between a Sino-U.S. trade war, political concerns over Chinese telecoms firm Huawei and slowing consumer demand, chipmakers in Singapore have started slowing production and laying off hundreds of jobs, firms told Reuters.
French carmaker PSA Group delivered a sharp increase in first-half profit, defying a global industry downturn as new models and cost savings from the integration of Opel-Vauxhall more than made up for weaker emerging market sales.
Oil prices nudged higher on Wednesday on rising tensions over Iran, a sharp fall in U.S. crude stocks and positive signs on Sino-U.S. talks, although worries about weak demand kept a cap on gains.
Deutsche Telekom has called a leadership meeting on Wednesday in expectation of U.S. regulatory approval of the proposed merger of its U.S. T-Mobile unit with rival Sprint , according to business daily Handelsblatt.
Philippines’ Jollibee Foods Corp (JFC) , a major Asian fast-food operator, said on Wednesday it had agreed to acquire U.S. brand Coffee Bean & Tea Leaf (CBTL) for $100 million as part of its rapid expansion outside its home market.
Deutsche Telekom has scheduled a meeting of senior management on Wednesday as it expects U.S. regulators to approve the proposed merger of its T-Mobile US with rival Sprint , according to business daily Handelsblatt.
Asian shares crept higher on Wednesday as the prospect of fresh Sino-U.S. trade talks drew a guarded welcome, while the euro hit lows on a range of counterparts amid speculation the European Central Bank was near to easing policy.
Luxury car maker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags triggered a 1.56 billion euros ($1.74 billion) loss before interest and taxes in the second quarter.
French carmaker PSA Group delivered a sharp increase in first-half profit, as new models and the integration of Opel-Vauxhall more than made up for weaker emerging-market sales.
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