Business & Finance News
Siemens and Alstom’s plan to create a European rail champion collapsed on Wednesday after EU antitrust regulators rejected the deal, saying that it would have hurt competition and led to higher prices for consumers.
Daimler Chief Executive Dieter Zetsche on Wednesday said the carmaker is in talks about deepening its cooperation with China’s Geely, even as German politicians draw up measures to protect German industry from foreign rivals.
Switzerland’s Roche will donate its new hemophilia A drug Hemlibra to a World Hemophilia Federation program, it said on Wednesday, joining rivals who also back the effort to help patients in developing countries who face treatment hurdles.
German ministers will meet on Wednesday to discuss how to safeguard security in future 5G mobile networks, two government sources said, amid intense debate over whether to shut China’s Huawei Technologies out of the market.
Toyota Motor Corp’s quarterly profit edged up as demand for its bread-and-butter car models from cost-conscious Chinese buyers helped offset bleak North American sales, although the firm’s shares slipped as it cut its annual net income outlook.
Danish brewer Carlsberg’s sales rose last year for the first time in three years, helped by strength in China and the long, hot summer in Northern Europe and Russia, but it warned it expects slower growth in 2019.
The Australian dollar nosedived after its central bank opened the door to a possible rate cut in a remarkable shift from its long-standing tightening bias, a further indication of global economic slowdown.
Daimler cut its dividend as fourth-quarter operating profit fell 22 percent as trade wars and rising costs for developing electric and self-driving cars hit profits at Mercedes-Benz cars, the company said on Wednesday.
German ministers are meeting on Wednesday to discuss how to deal with China’s Huawei Technologies in building Germany’s 5G network, a government source told Reuters.
Japan’s top steelmaker Nippon Steel & Sumitomo Metal Corp on Wednesday warned its annual profit would be less than previously forecast, citing lower crude steel output for the 12 months ending March 31.
Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments.
The German cabinet will hold a secret session on Wednesday to discuss safeguard measures regarding the possible participation of China’s Huawei Technologies in building Germany’s 5G network, the daily Handelsblatt said, citing government sources.
If Volkswagen realizes its ambition of becoming the global leader in electric cars, it will be thanks to a radical and risky bet born out of the biggest calamity in its history.
Daimler said its fourth-quarter operating profit fell 22 percent as trade wars and ballooning costs for developing electric and self-driving cars hit profits at Mercedes-Benz cars.
Credit Suisse expects a higher tax rate for 2018 than previously forecast, saying on Wednesday it expects to be hit by U.S. tax provisions aimed at preventing companies from shifting profits abroad.
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