Business & Finance News
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.
Chinese startup Luckin Coffee, which has ambitions to overtake Starbucks at home this year, has tapped three banks including Credit Suisse to work on a U.S. IPO in 2019, said people with direct knowledge of the matter.
Future Retail Ltd said on Thursday its unit SHME Food Brands signed a master franchise agreement with U.S.-based 7-Eleven Inc to operate its stores in India, marking the convenience retailer’s entry into the country.
A delay to Brexit would be a “further annoyance” which would prolong uncertainty, the boss of luxury carmaker Aston Martin said after Prime Minister Theresa May promised to give lawmakers a vote on extending the date for Britain to leave the EU.
Istanbul’s new airport does not need additional financing and Turkish Airlines will not be a partner in the airport consortium, the chairman of airport shareholder Limak Holding told Reuters.
Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis, highlighting deepening cracks in an economy facing weak demand at home and abroad.
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