German carmaker BMW achieved record sales of 2.5 million vehicles in 2019, sales chief Pieter Nota said on Wednesday, adding that he was upbeat about the company’s prospects in 2020.
Oil prices steadied 1% higher on Wednesday, well below peaks hit in frenzied trading earlier in the day after a rocket attack by Iran on American forces in Iraq raised the specter of a spiraling Mideast conflict and disruption to crude flows.
(Bloomberg) — NMC Health Plc shares plunged after two major investors sold $493 million worth of shares well below the market price to reduce their holdings in the troubled health-care group.The stock fell as much as 19% to 1,206 pence in early London trading. Investors Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Khaleefa Butti Omair Yousif Ahmed Al Muhairi both sold about 15% of NMC for about 1,200 pence a share.The company had a rocky end to 2019 as shares slumped following allegations by Carson Block’s Muddy Waters Capital LLC. The short-selling firm said the company’s financial statements hint …read more […]
(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Anglo American Plc said it’s in advanced talks over a possible takeover offer for troubled Sirius Minerals Plc, which is struggling to build a $3.8 billion potash mine in the U.K.The potential acquisition of Sirius comes after Chief Executive Officer Mark Cutifani strengthened the balance sheet of Anglo, whose mining portfolio spans copper and iron ore to platinum and diamonds. The company said it had identified the potential of Sirius’s potash mine some time ago, given its projected scale, lifespan and profit …read more […]
CITIC Ltd , the main listed arm of Chinese state-owned conglomerate CITIC Group, plans to sell a 22% stake in McDonald’s Corp’s mainland China and Hong Kong business, which is likely to be bought by the group’s private equity arm.
Japanese fashion tycoon Yusaku Maezawa is giving away $9 million to his Twitter followers in what he says is a “social experiment” to see if the payment boosts their happiness.
U.S. stock index futures fell early on Wednesday as investors scurried to safe-haven assets after Iran fired rockets at U.S.-led forces in Iraq in response to the killing of a top Iranian commander, sparking fears of a wider war in the Middle East.
Shares of Saudi Aramco opened at 34 riyals ($9.06) on Wednesday, their lowest level since the oil giant began trading on December 11, after Iran launched missiles on U.S. targets in Iraq.
Oil prices were about 1% higher on Wednesday, but well below highs hit in a frenetic start to the trading day after a rocket attack by Iran on American forces in Iraq raised the specter of a spiraling conflict and disruption to crude flows.
The spike in oil prices due to the escalating conflict between the United States and Iran is causing investors to worry that U.S. corporate earnings will be crimped by rising energy costs. While the energy sector would benefit from higher oil prices, other sectors ranging from shipping to manufacturing to restaurants would see their profit margins compress as gasoline prices rise. Some investors said they were acting more defensively against this backdrop. …read more […]
MADRID/HANGZHOU, China (Reuters) – After years of reconnaissance, China’s retail king Alibaba is finally making its move on Europe. It is undercutting Amazon sellers’ fees to attract vendors but has had mixed results, six sources with direct knowledge of the matter said. A flood of small businesses have joined its European platform, AliExpress, in recent months but some larger brands are holding back, according to the sources. …read more […]
Several major airlines said on Wednesday they were re-routing flights to avoid airspace over Iraq and Iran after the Federal Aviation Administration banned U.S. carriers from the area following an Iranian missile attack on U.S.-led forces in Iraq.
Asian shares tumbled on Wednesday, while oil, safe-haven Treasury prices and gold shot higher after Iran fired rockets at U.S.-led forces in Iraq, stoking fears of a wider conflict in the Middle East.
The United States is making a final pitch to Britain ahead of a U.K. decision on whether to upgrade its telecoms network with Huawei equipment, amid threats to cut intelligence-sharing ties, people with knowledge of the matter told Reuters.
The spike in oil prices due to the escalating conflict between the United States and Iran is causing investors to worry that U.S. corporate earnings will be crimped by rising energy costs.
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