Food giant Nestle expects a continued increase in organic sales growth this year after it hit a four-year high at 3.5% and profitability improved in 2019, helped by cost cuts and a focus on fast-growing businesses.
(Bloomberg) — U.S. equity futures dropped along with most stock markets in Asia on Thursday as investors mulled over the implications of a surge in the number of coronavirus cases in China’s Hubei province, after it deployed a revised methodology.While the jump in the tally cut against the optimism seen Wednesday about the rate of infections slowing, some analysts were encouraged by what might be a more realistic picture coming from Chinese authorities. Benchmarks in Japan, Shanghai, Hong Kong and South Korea declined, though shares in Australia edged up. The yen edged up, the yuan ticked down, and Treasuries rose. …read more […]
Credit Suisse posted a 69% rise in annual net profit on Thursday in a bittersweet swan song for outgoing Chief Executive Tidjane Thiam.
Thyssenkrupp posted a 77% drop in adjusted operating profit in the first quarter, blaming a weak automotive market while its steel division, part of the group’s core following a planned divestment of its elevator business, swung to a loss.
Airbus plunged to a 1.362 billion euro ($1.48 billion) net loss in 2019, weighed down by a multinational bribery settlement, but the European aerospace group pledged to increase operating profit and deliver 880 commercial jets this year.
Oil prices were mixed on Thursday as concerns about falling demand caused by travel restrictions tied to the coronavirus outbreak in China, the world’s biggest oil importer, outweighed expectations of supply cuts from major producers.
European planemaker Airbus has reached a deal to buy the remaining stake of Canadian plane and train maker Bombardier in the A220 passenger jet program, it said on Thursday.
(Bloomberg) — U.S. stock index futures slid after the Chinese province at the center of the coronavirus epidemic reported a jump in new cases.S&P 500 Index futures contracts expiring in March fell as much as 0.5% as of 1:41 p.m. in Tokyo, after Hubei reported 14,840 new cases as it revised the method for counting infections. Contracts on the Dow Jones Industrial Average and the Nasdaq 100 were down more than 0.3% each.“Just when markets were getting comfortable with the idea that the COVID-19 infection increase was trending lower, the sudden jump in the number of new cases in Hubei …read more […]
(Bloomberg) — PG&E Corp. told a federal judge it opposes his proposals to intervene in the company’s wildfire prevention efforts after it admitted to not fully complying with the terms of its criminal probation.The bankrupt northern California utility’s pushback is a response to U.S. District Judge William Alsup, who last month threatened to order the company to hire more tree trimmers and restrict how management doles out bonuses.The San Francisco judge is overseeing PG&E’s probation after it was convicted in 2016 of gas-pipeline safety crimes. Failure to comply with any law is a violation of probation. Alsup is testing how …read more […]
(Bloomberg) — BP Plc’s pledge to zero out all its carbon emissions by 2050 deepens the divide between major European and American oil producers on climate change, increasing the pressure for Exxon Mobil Corp. and Chevron Corp. to do more.The U.S. supermajors have only committed to reducing greenhouse gases from their own operations, which typically account for just 10% of fossil fuel pollution. BP on Wednesday followed Royal Dutch Shell Plc and Equinor ASA in pledging to offset emissions from the fuels they sell to customers, representing about 90% of the total.“If we do see capital flowing into BP, that …read more […]
Airbus is negotiating a preliminary order for up to 100 A220 jets as it prepares to buy out Bombardier’s minority stake in the Canadian-designed jet, industry sources said.
An Australian court approved a A$15 billion ($10.1 billion) merger between a unit of Britain’s Vodafone Group and internet provider TPG Telecom on Thursday, overruling a regulator and enabling a huge rival to the country’s top telcos.
An Australian court on Thursday backed the A$15 billion ($10.1 billion) merger between TPG Telecom and Vodafone’s Australian joint venture despite opposition from the country’s competition regulator.
A drop in airline flights from China and Hong Kong due to the coronavirus is increasing demand for private jets as wealthy passengers try to get out, executives say, but travel bans and nervous crew have kept that from translating to more business.
Tesla Inc is seeking approval from Chinese regulators to offer a new China-made Model 3 variant, a government document shows.
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