Articles by admin

French carmaker PSA Group delivered a sharp increase in first-half profit, as new models and the integration of Opel-Vauxhall more than made up for weaker emerging-market sales.

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Deutsche Bank on Wednesday said the German company posted a larger-than-expected loss of 3.15 billion euros ($3.51 billion) in the second quarter due to major restructuring costs.

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KKR & Co said it is buying Campbell Soup Co’s Australian snacks unit Arnott’s that will give it ownership of top-selling biscuit brands such as Tim Tam, in a deal local media reported was worth $2.2 billion.

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Luxury carmaker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags triggered a 1.56 billion euros ($1.74 billion) loss before interest and taxes in the second quarter.

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Deutsche Bank said on Wednesday that it posted a loss of 3.15 billion euros ($3.51 billion) in the second quarter as a result of costs for a major restructuring.

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KKR & Co said it is buying Campbell Soup Co’s Australian snacks unit Arnott’s Biscuits that will give it ownership of top-selling cookie brands such as Tim Tam, in a deal local media reported was worth $2.2 billion.

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Philippines’ Jollibee Foods Corp said on Wednesday it is buying U.S. brand Coffee Bean & Tea Leaf for $100 million.

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Starbucks Corp said on Tuesday it would expand its partnership with Uber Eats to deliver food and coffee throughout the United States in early 2020.

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U.S. ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe’s $500 billion trucking market.

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Oil prices edged higher on Wednesday, extending gains as rising tensions with Iran fueled concerns about supply disruptions and as U.S. inventory data showed a much bigger than expected drop in crude stockpiles.

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Asian shares on Wednesday gave a guarded welcome to hints of progress in the Sino-U.S. trade saga, while the dollar hit two-month highs on the euro as investors wagered on a dovish outcome from the European Central Bank’s coming policy meeting.

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Nissan Motor Co Ltd plans to expand job cuts to over 10,000 to help turn around its business, a person with direct knowledge of the matter said on Wednesday, showing the tough road ahead for an automaker grappling with management upheaval.

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The Trump administration is split over whether to renew a license this week for energy company Chevron Corp’s operations in Venezuela, with Secretary of State Mike Pompeo supporting a renewal and others opposing it, three sources with knowledge of the matter said on Tuesday.

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Oil prices rose on Wednesday, extending gains after an industry group reported a much bigger than expected drop in U.S. inventories, while the U.S. Navy said it may have downed a second Iranian drone last week.

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Nissan Motor Co Ltd is planning to cut more than 10,000 jobs globally to help turn around its business, a source said on Wednesday, showing a tough road ahead for the automaker which is also reeling from the ouster of former Chairman Carlos Ghosn.

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