BMW is set to name Oliver Zipse as its new chief executive, picking the manufacturing expert to help the German automaker make the shift to electric and self-driving cars and tackle new competition from technology giants.
Carrie Gray points to a stack of unwelcome mail on a conference table at the offices of Renegade RV, one of the leading U.S. manufacturers of high-end recreational vehicles. She’s buried in bad news from most of her about 350 suppliers.
Qualcomm , the world’s no.1 chipmaker, was fined 242 million euros ($272 million) on Thursday for blocking a rival from the market about a decade ago, its second EU antitrust penalty.
(This July 17 story corrects paragraph 2 to say second-quarter revenue was up, not down)
Vodafone secured on Thursday antitrust approval from the European Union for its $22 billion bid to buy Liberty Global’s cable networks in Germany and central Europe after offering concessions in May.
Oil edged lower Wednesday unable to shake off the downbeat mood of the last two days in response to a sharp rise in U.S. stockpiles of products like gasoline, pointing to weak demand during the summer driving season in the United States.
Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance , plans to exit its once-core peer-to-peer lending (P2P) business, three sources with direct knowledge of the matter told Reuters.
Global shares slipped on Thursday on growing signs that a trade dispute between the United States and China was taking a toll on corporate earnings, with nerves spreading from Wall Street through Asia to European markets.
Memory chip spot prices have risen for the first time this year, indicating grim warnings of “never seen before” spikes and a supply disruption could come to pass as a dispute between South Korea and Japan drags on.
British online fashion retailer ASOS dented profit expectations for the third time in eight months on Thursday, saying problems in ramping up warehouses in the United States and Germany had hit sales and increased costs.
Anglo American on Thursday posted a 2% rise in second quarter output and reaffirmed full-year production targets, boosted by a restart of operations at its Brazilian iron ore mine and higher volumes of coking coal.
Sweden’s AB Volvo raised its market forecasts for North America and Europe on Thursday, as higher trucks and construction equipment deliveries helped it to top profit estimates.
Britain’s easyJet on Thursday reported third quarter trading in line with expectations, boosted by more customers taking optional extra services and enabling it to reiterate its full-year profit forecasts.
Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance , plans to exit its once-core peer-to-peer lending (P2P) business, three sources with direct knowledge of the matter told Reuters.
Volvo on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability.
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