Bristol-Myers Squibb Co expressed disappointment on Thursday with the opposition of its top shareholder to a $74 billion takeover of Celgene Corp, and said it would press on with what would be the largest pharmaceutical acquisition of all time.
Air Canada increased its long-term targets for profit margins and free cash flow on Thursday, as the country’s largest airline benefits from cost-cutting efforts and an expansion into new destinations.
JD.com Inc, China’s second largest e-commerce firm, reported a 22.4 rise in fourth-quarter revenue on Thursday, beating analyst estimates on the back of stronger online retail sales and sending its U.S.-listed shares up 8 percent.
Air Canada on Thursday forecast margins on core earnings (EBITDA) of 19 percent to 22 percent for the next three years and for the same period said it expects cumulative free cash flow of C$4 billion ($3.04 billion) to C$4.5 billion.
Hyundai Motor Co, which is reeling from tumbling sales in China, is considering cutting capacity at its factories in its biggest market, Chief Executive Lee Won-hee said, according to two people with direct knowledge of the matter.
Oil analysts have grown more pessimistic over the prospects for a significant price rally this year, as booming U.S. shale output and a deteriorating global economic backdrop threaten to offset the boost from OPEC’s crude supply cuts.
Ireland’s Data Protection Commissioner, Facebook’s lead regulator in the European Union, expects to conclude the first of seven investigations into the company’s use of personal data this summer and the remainder by the end of the year, its head said on Thursday.
Swiss telecoms group Sunrise wants to crank up price competitiveness following its 6.3 billion Swiss franc ($6.3 billion) takeover of Liberty Global’s Swiss unit and also expects job cuts from the deal, Chief Executive Olaf Swantee told Reuters on Thursday.
Novartis’s shift into high-tech drugs won praise for giving new options to patients but criticism for prices that may run into the millions of dollars as the Swiss drugmaker faced investors at its annual general meeting on Thursday.
Thyssenkrupp will continue with its breakup plans even if the steel-to-submarines conglomerate fails to win regulatory approval for a separate joint venture with Tata Steel, Chief Executive Guido Kerkhoff said on Thursday.
Hyundai Motor Co’s is considering cutting capacity at its Chinese factories, the automaker’s Chief Executive Lee Won-hee said, according to two people with direct knowledge of the matter.
A merger between Deutsche Bank and Commerzbank does not make economic sense at the moment, an advisor to Germany’s Finance Ministry said on Thursday.
Daimler and BMW deepened their alliance on Thursday to share development costs for highly automated driving technologies, even as each carmaker continues to pursue separate efforts to develop fully self-driving cars.
Global stocks retreated for a third straight day on Thursday as investors reduced their optimism over U.S.-Sino trade talks, while an early end to a U.S.-North Korean summit in Vietnam and weak economic data out of China also hit sentiment.
Daimler and BMW deepened their alliance on Thursday to share development costs for highly automated driving technologies, even as each carmaker continues to pursue separate efforts to develop fully self-driving cars.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
