Business & Finance News
BMW on Wednesday said it expected group pretax profit to fall by more than 10 percent in 2019 and announced a sweeping 12 billion euro ($13.6 bln) cost savings and efficiency plan to help offset higher technology investment and currency costs.
The trial of former Nissan Motor Co boss Carlos Ghosn on charges of under-reporting his salary is expected to start in September, public broadcaster NHK said on Wednesday.
Japan’s government downgraded its assessment of the economy in March for the first time in three years, blaming a bruising U.S.-China trade war for slumping exports and industrial output.
Nissan Motor’s China joint venture with Dongfeng has not made any changes to its mid-term China sales plan, a company spokeswoman told Reuters on Wednesday, responding to a report that it has cut its sales target.
At least two tankers have ferried Iranian fuel oil to Asia in recent months despite U.S. sanctions against such shipments, according to a Reuters analysis of ship-tracking data and port information, as well as interviews with brokers and traders.
In New Mexico’s Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry’s notorious boom-and-bust cycles.
The U.S. Federal Reserve on Wednesday is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and release long-awaited details of a plan to end the monthly reduction of its massive balance sheet.
Chinese streaming firm Tencent Music Entertainment Group delivered its first earnings report as a public company, meeting market expectations but exposing soaring license and content production costs which pulled its shares down 6 percent.
Asian shares slipped from six-month highs on Wednesday as investors took profits ahead of a policy decision by the U.S. Federal Reserve which is expected to shed more light on its interest rate plans for the rest of the year.
Australia’s AMP Ltd on Wednesday said it will not pay short-term bonuses to most executives, a move that could help it avoid possible board removal should investors vote against its remuneration practices for the second consecutive year.
Boeing Co, facing its biggest crisis in years following deadly crashes of its flagship 737 MAX aircraft, has brought in a new vice president of engineering while dedicating another top executive to the aircraft investigations, a company email showed on Tuesday.
Asian shares got off to a cautious start on Wednesday, holding close to six-month highs on hopes the U.S. Federal Reserve will stick to a dovish stance and unveil a plan to stop cutting bond holdings later this year.
The chairman of the U.S. House of Representatives transportation committee and another key Democrat asked the Transportation Department’s inspector general on Tuesday to examine key decisions made by the Federal Aviation Administration in certifying Boeing’s 737 MAX jet for use.
FedEx Corp on Tuesday cut its 2019 profit forecast for the second time in three months, sending its shares down more than 5 percent and fueling fresh worries it is losing ground to delivery rivals such as United Parcel Service Inc and Deutsche Post DHL Group.
Alphabet’s Google will prompt Android users to choose their preferred browsers and search apps, a senior Google executive said on Tuesday, as the company seeks to allay EU antitrust concerns and ward off fresh sanctions.
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