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Dubai airport passenger traffic falls 2.4% in third quarter
Dubai International, the world’s busiest airport for international travelers, reported a 2.4% fall in third-quarter passenger traffic on Thursday.
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Wind turbine maker Vestas benefits from climate change action, sees orders jump
Wind turbine maker Vestas’ sales, orders and profit surpassed analysts expectations in the third quarter as the Danish firm enjoys one of its busiest periods on record, lifting its shares nearly 11 percent on Thursday. Demand for renewable power sources has been growing in tandem with global efforts to combat climate change, boosting both Vestas’ orders for new turbines and its service business, where it now maintains roughly 43,000 turbines. “The industry we’re representing is on very very high demand with all the focus on the environment and we see a strong message from most governments,” Chief …read more […]
Business News
Delayed U.S. soybean cargo booked under waiver offloads, worries linger
A cargo of American soybeans booked in the hope it would be exempt from tariffs has been offloaded in China after about a one-week delay due to a dispute between the buyer and customs officials over duty payments, said two sources briefed on the matter.
Business News
Toyota announces $1.8 billion share buyback after strong second-quarter
Toyota Motor Corp plans a $1.8 billion share buyback, Japan’s biggest automaker said on Thursday, after beating quarterly forecasts on higher global vehicle sales and an improved performance in North America.
Business News
Oil rebounds to $62 on hopes for U.S.-China trade deal
Oil rose above $62 a barrel on Thursday after China hinted at progress toward a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and fuel demand.
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Tesla's China Factory Will Make or Break Elon Musk’s Vision
(Bloomberg) — Sign up for Next China, a weekly email on where the nation stands now and where it’s going next.Elon Musk said he’s never seen a factory built so quickly, and now he’s about find out if it’s up to the task.Tesla Inc.’s new Shanghai Gigafactory, which only broke ground in January, is weeks from starting mass production of electric sedans. China’s first plant wholly owned by a foreign carmaker — and Tesla’s first outside the U.S. — is a crucial test of Musk’s bid to keep his carmaker profitable as he bets big on the world’s biggest market …read more […]
Business News
LafargeHolcim says takes note of French court decision on Syria
LafargeHolcim has taken note of a French appeal court decision to drop the charge of complicity in crimes against humanity brought against Lafarge SA over its operations in Syria, the Swiss cement maker said on Thursday.
Business News
Ford may consider making branded pickups in China if cities open more
Ford Motor Co will consider building Ford-branded pickup trucks in China if restrictions on driving pickups in cities are relaxed and it could also roll out customized models at that time, a senior company official said.
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U.S.-China trade deal hopes restart stocks rally
Europe’s share markets hit a more than 4-year peak and bond yields shuffled higher on Thursday, as Beijing signaled a ‘phase 1’ trade deal with the United States was close to being sealed.
Business News
Power struggle escalates at German railways: sources
A power struggle has escalated at Germany’s Deutsche Bahn [DBN.UL], with the position of finance chief Alexander Doll at risk, company sources said ahead of a special meeting of the supervisory board of the railway company on Thursday.
Business News
Lufthansa cancels 700 flights on first day of cabin crew walkout
Lufthansa flight attendants went on a 48-hour strike over pay and pensions on Thursday, forcing the biggest German airline to cancel hundreds of flights.
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Deutsche Telekom CEO: 0.60 euros is our new minimum dividend
Deutsche Telekom CEO Tim Hoettges said on Thursday that the company’s proposed dividend of 0.60 euros ($0.66) was a new minimum that it would pay whether or not a proposed U.S. merger goes through. “The 60 eurocents announced today is our new minimum dividend amount,” Hoettges said in remarks prepared for a call with reporters after Deutsche Telekom said it would lower its 2019 payout from last year’s 70 cents. Hoettges said he still firmly believed that U.S. unit T-Mobile’s $26.5 billion merger with Sprint, now stalled, would go through although he now expected the deal to close …read more […]
Business News
China says it has agreed with U.S. to cancel tariffs in phases
China and the United States have agreed to cancel in phases the tariffs imposed during their months-long trade war, the Chinese commerce ministry said on Thursday, without specifying a timetable.
Business News
Remain more likely than no-deal Brexit – Aviva’s Fitzgerald
There is more than a one-in-five chance that Britain remains in the European Union and there’s a greater likelihood of that outcome than a no-deal Brexit, said Peter Fitzgerald, head of multi-asset management at Aviva Investors.
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Lufthansa cancels 700 flights on first day of cabin crew walkout
FRANKFURT/BERLIN (Reuters) – Lufthansa flight attendants went on a 48-hour strike over pay and pensions on Thursday, forcing the biggest German airline to cancel hundreds of flights. Lufthansa on Wednesday announced it expected to cancel a total of 1,300 connections on Thursday and Friday, with 180,000 passengers affected. The departure table on Frankfurt airport’s website showed scores of canceled flights to European destinations and on transatlantic routes. …read more […]