Nissan Motor Co on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management to fix a company still reeling from the scandal surrounding former leader Carlos Ghosn.
(Bloomberg) — Nissan Motor Co. cut its full-year profit outlook for the second time and scrapped its year-end dividend payout, renewing concern about the troubled automaker’s ability return cash to investors, especially top shareholder and partner Renault SA.Dogged by falling sales in its biggest markets and instability in its most senior management ranks following the arrest of former Chairman Carlos Ghosn, Nissan reduced its full-year operating profit forecast to 85 billion yen ($774 million), down from an earlier estimate of 150 billion yen.Nissan had initially projected an operating profit of 230 billion yen for the fiscal year through March, but …read more […]
Australia’s Qantas Airways Ltd told pilots on Thursday that if it could not reach a pay deal soon covering the world’s longest commercial flights from Sydney to London, it would form a lower-cost employment entity, according to an internal memo.
Turkish airline Atlasglobal has decided to suspend all its operations and told its personnel not to come to work on Thursday, the aviation sector news website AirportHaber and other media reported.
A sale of Thyssenkrupp’s elevator division is currently in focus, the group’s finance chief said on Thursday, adding an ongoing auction was “very competitive”.
Nestle Chief Executive Mark Schneider has made great strides in positioning the world’s largest food company for the future with his aggressive deal-making since taking over in January 2017.
Food giant Nestle will hit its 2020 organic growth target later than envisaged, it said on Thursday after posting its highest annual growth in four years and improved profitability.
Nissan Motor Co on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management to fix a company still reeling from the scandal surrounding former leader Carlos Ghosn.
Alphabet Inc-owned Google said on Thursday it has completed its $2.6 billion buyout of privately held big-data analytics firm Looker Data Sciences after winning clearance from Britain’s competition watchdog.
Thyssenkrupp’s steel division swung to a loss in the first quarter, raising doubts over Europe’s second-biggest steelmaker, the conglomerate’s core following its planned sale of its elevator business.
Dutch paints and coatings maker Akzo Nobel aims to outpace its competitors’ revenue growth in the coming years while lifting profitability, it said on Thursday.
Japanese beer and beverage maker Asahi Group Holdings said a South Korean consumer boycott of Japanese goods cost it around 3 billion yen ($27.32 million) last year.
Barclays on Thursday said Britain’s financial regulators are probing the historical links between Chief Executive Jes Staley and the U.S. financier Jeffrey Epstein, who killed himself while awaiting trial on sex trafficking charges.
(Bloomberg) — Deutsche Telekom is pushing for a re-negotiation of terms for the sale of Sprint Corp. to T-Mobile US Inc., the Financial Times cites unidentified people as saying.The German carrier, which owns a majority of T-Mobile, wants a lower price because Sprint’s shares have slid since the deal was proposed in 2018, it said.Bloomberg News reported Wednesday that Sprint and majority owner SoftBank Group Corp. would likely have to accept a lower price than when the merger agreement was first forged in April 2018. Sprint’s monthly churn — a closely watched measure of how many customers leave — has …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
