Business & Finance News
Deutsche Telekom will win unconditional EU antitrust approval to buy Tele2’s Dutch business, sources familiar with the matter said on Monday, sending telecoms shares higher on hopes of more flexible regulation on consolidation.
U.S. stocks rose on Monday, fueled by gains in retailer shares during a prime holiday shopping period, while European stocks rallied after signs that Italy was preparing to rework the spending plans that have fueled tensions with the European Union.
U.S. Supreme Court justices on Monday appeared open to letting a lawsuit proceed against Apple Inc that accused it of breaking federal antitrust laws by monopolizing the market for iPhone software applications and causing consumers to overpay.
Cyber Monday was on track to bring in a record $7.8 billion in U.S. online sales, but will also test the limits of retailers’ e-commerce operations as millions of shoppers scour for steep discounts on everything from Lego sets to big-screen TVs.
The Canadian province of Ontario, keen to avert the closure of General Motor’s Oshawa plant, was told by the automaker that there was nothing it could do to prevent it, premier Doug Ford said on Monday.
Fiat Chrysler (FCA) is expected to commit to producing a raft of new models in Italy, including Jeeps and an Alfa Romeo SUV, union sources said, as the carmaker strives to fill underutilized plants and lift profit margins in Europe.
General Motors Co will cut car production, stop building several slow-selling models, and slash its North American workforce, its biggest restructuring in North America since its bankruptcy a decade ago.
Esprit Holdings Ltd will cut about 40 percent of its non-store jobs and reduce the number of products its sells in stores as the fashion group restructures in the wake of tough competition from online and fast-fashion retailers.
U.S. stocks gained on Monday, helped by shares of retailers on expectations of blockbuster sales on the largest online shopping day of the year, and as technology shares rose after taking a beating last week.
Cyber Monday online shopping frenzy kicked off with retailers offering a slew of discounts and free shipping, testing the limits of their e-commerce operations as they take millions of orders across the country.
General Motors Co will cut car production, stop building several low-selling car models, and slash its North American workforce, sources said on Monday, marking its biggest restructuring in North America since its bankruptcy a decade ago.
Oil rose above $60 a barrel on Monday, recovering some of the previous session’s near-7 percent fall, although uncertainty over global economic growth limited the gains.
The incoming chief executive of Europe’s Airbus hinted on Monday at a decision next year on whether to launch the A321XLR, a longer-range version of its best-selling A321 single-aisle jet.
Deutsche Telekom is set to win unconditional EU antitrust approval for its bid to buy Swedish peer Tele2’s Dutch unit, people familiar with the matter said on Monday.
U.S. stocks opened higher on Monday, as optimism of a robust holiday season powered gains in shares of retailers and technology stocks bounced back after a brutal sell-off last week.
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