Articles by admin

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.SAP SE raised its outlook for adjusted operating profit but cloud revenue forecasts wavered, as the software giant’s new chief executive officers’ plot how to compete with U.S. rivals.Europe’s biggest tech company by market value has spent the past few years concentrating on growing its cloud business.However SAP’s fourth-quarter results were “mixed,” analysts at MainFirst said, adding that while licenses and operating margins were ahead of predictions, cloud revenues came in below expectations.The company’s shares fell as much as 2.7% in early …read more […]

(Bloomberg Opinion) — Whenever it’s seemed like Airbus SE might steal a march on Boeing Co., something has come along to throw a spanner in the works. A decade ago Airbus was consistently delivering more planes than its arch-rival but its competitiveness was eroded by the strong euro and the nightmare of building the ill-fated A380 superjumbo.Until the two recent fatal crashes involving the Boeing 737 Max, it seemed like a similar story. While both companies had brimming order books, Boeing’s cash flow was going through the roof and Airbus was bedeviled by production difficulties on new commercial aircraft and …read more […]

(Bloomberg) — President Rodrigo Duterte is cracking down on some of the Philippines’ biggest businesses, pushing a populist agenda that’s endearing him to his supporters while putting off investors.The nation’s stock market has dropped as much as 11% from its 2019 peak and valuation has fallen to its lowest since 2011 relative to peers as Duterte stepped up his attacks last month. The 74-year-old leader whose drug war has killed thousands saw his popularity hit a new high last quarter.The benchmark index fell 1.6% on Tuesday, its second straight day of decline. Duterte is scheduled to have a televised interview …read more […]

At Exxon Mobil Corp , CEO Darren Woods’ plan to revive earnings at the largest U.S. oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining. Another year of poor profit could require Exxon to re-evaluate its bold spending plans or weaken its ability to weather the next oil-price downturn, say oil analysts. Exxon already must borrow or sell assets to help cover shareholder dividends. …read more […]

Spot gold fell 0.1% to $1,579.38 per ounce by 0456 GMT, after hitting a near three-week peak on Monday. U.S. gold futures edged higher by 0.1% to $1,578.10. Gold prices rose for the past four sessions as the spread of the coronavirus rattled financial markets and prompted authorities to impose travel restrictions and extend the Lunar New Year holidays. …read more […]

(Bloomberg) — Apple Inc.’s China-centric manufacturing base is at risk of disruption after the Lunar New Year holiday as the company’s partners confront the coronavirus outbreak that has gripped the country and caused more than 100 deaths.Virtually all of the world’s iPhones are made in China, primarily by Foxconn’s Hon Hai Precision Industry Co. at its so-called iPhone City in Zhengzhou and by Pegatron Corp. at an assembly site near Shanghai. Each of those locations is more than 500 kilometers away from Wuhan in central China, the epicenter of the viral outbreak, but that distance doesn’t immunize them from its …read more […]