European shares climbed on Friday as hopes that central banks would loosen policy offset trade friction and the threat of global recession, putting them on track for their best week in two months.
A ban on buying telecoms equipment from Chinese firms would add about 55 billion euros ($62 billion) to the cost of 5G networks in Europe and delay the technology by about 18 months, according to an industry analysis seen by Reuters.
Toyota Motor Corp aims to get half of its global sales from electrified vehicles by 2025, five years ahead of schedule, and will tap Chinese battery makers to meet the accelerated global shift to electricity-powered cars.
IBM has withdrawn an application for anti-trust approval for a mainframe computing venture with T-Systems, the IT services arm of Deutsche Telekom, after the German cartel office made a critical initial assessment of the plan.
European stocks gained ground on Friday as hopes that central banks would loosen policy offset trade friction and the threat of global recession, putting indexes on track for their best week in two months.
Swiss Re is pressing ahead with plans to float its $4.5 billion UK life insurance business in London to put it under a more favorable regulatory regime and give it easier access to capital to fund its expansion.
IBM has withdrawn an application for anti-trust approval for a mainframe computing venture with T-Systems, the IT services arm of Deutsche Telekom, after the German cartel office took a closer look at the transaction.
Kering, owner of brands including Gucci, will tighten its grip on its e-commerce operations, focusing on its own branded sites to sell its luxury products or ventures where it can control its image and client data.
Private equity-backed generic drugmaker Stada said on Friday it would buy six consumer healthcare products from British drugmaker GlaxoSmithKline to bolster its presence in Europe.
Swiss Re is pressing ahead with a flotation of British subsidiary ReAssure on the London Stock Exchange, the world’s second largest reinsurer said on Friday, a business that analysts value at around 3.5 billion pounds ($4.45 billion).
Qatar Airways plans to seek compensation from Boeing over the grounding of three 737 MAX aircraft by Italian airline Air Italy, where the Qatari company is a major shareholder, group chief executive Akbar al-Baker told Reuters.
Sanofi has appointed Novartis executive Paul Hudson to replace CEO Olivier Brandicourt who will retire in September, France’s biggest drugmaker said on Friday.
Italy’s Industry Minister Luigi Di Maio blamed the French state for derailing merger talks between Fiat Chrysler and rival Renault saying Paris had come out poorly in the situation.
French pharma giant Sanofi has appointed Paul Hudson as chief executive to replace Olivier Brandicourt, who will retire in September, the company said on Friday.
Asian shares were slightly higher on Friday on expectations global central banks will soon embark on an easing cycle in the face of international trade frictions and fears of a world recession.
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