Business & Finance News
Sweden’s H&M disappointed investors with a 10 percent tumble in quarterly profit, the world’s second largest fashion retailer blaming investment aimed at boosting its online business for the decline.
Qatar Airways has upgraded an existing order for 50 Airbus A321neo jets to include 10 long-range models, as a regional diplomatic rift has forced the airline to fly longer routes.
Soothing sounds from the Federal Reserve propelled world stocks to their best January on record on Thursday, although having scored stellar gains this time last year only to flop spectacularly, traders were trying not to get too carried away.
Unilever reported lower-than-expected fourth-quarter sales on Thursday, hurt by troubles in Latin America and weak growth in developed markets, showing the challenges facing new Chief Executive Alan Jope.
Fashion retailer H&M reported an unexpected fall in quarterly pretax profit on Thursday as it invested in new warehouses to try to capture a bigger share of the fast-growing online market.
France’s competition regulator has ordered Google to take measures regarding some of its advertising methods, saying these had hit French firm Amadeus which runs a directory service in France.
Japan’s Nintendo Co Ltd on Thursday slashed its full-year hardware forecast for the hybrid home-portable Switch console, revising a figure that had been treated with scepticism by investors and added to pressure on its share price.
Deutsche Bank is expecting a government-brokered merger with rival Commerzbank by mid-year if efforts to restructure the lender fall short of targets, Bloomberg reported on Thursday.
Hyundai Heavy Industries, the world’s biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market.
Korea Development Bank, the biggest shareholder of Daewoo Shipbuilding and Marine Engineering Co Ltd, on Thursday said it has signed a conditional deal with Hyundai Heavy Industries Group to sell Daewoo shares.
Nokia warned of a soft start to 2019 before a better second half for its fifth-generation (5G) mobile network technology, sending its shares sharply lower on Thursday.
PetroChina Co plans to drop Petroleos de Venezuela SA (PDVSA) as a partner in a planned $10 billion oil refinery and petrochemical project in southern China, said three sources familiar with the matter this week.
A South Korean city council on Wednesday green lit a revised plan for a low-wage automaking joint venture with Hyundai Motor, setting the stage for the construction of the car maker’s first factory at home in more than two decades.
Car industry businessman Carlos Ghosn is having to battle an army that is against him, Ghosn told Les Echos business newspaper and Agence France Presse in an interview published on Thursday, as he remains in custody in a Japanese prison.
Royal Dutch Shell vowed to stick to spending discipline this year even as 2018 profits jumped by more than a third to their highest since 2014 at $21.4 billion.
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