Business & Finance News
Unilever scrapped plans to move its headquarters to the Netherlands on Friday in the face of a British shareholder revolt, keeping one of the country’s most valuable companies in London ahead of Brexit.
Unilever’s withdrawal of plans to move its headquarters to Rotterdam looked likely on Friday to trigger political fallout for Dutch Prime Minister Mark Rutte over his unpopular proposal to scrap a withholding tax on dividends.
A South Korean appeals court said on Friday it found the chairman of Lotte Group guilty of charges including bribery and breach of trust, but suspended his jail term, setting him free.
Shares in Danske Bank plummeted on Friday to their lowest in four years after a media report the bank executed up to 8.5 billion euros of mirror trades for Russian customers in 2013, and a downgrade by Credit Suisse.
Oil prices rose on Friday as traders anticipated a tighter market due to U.S. sanctions on Iran’s crude exports.
Toyota Motor Corp, long opposed to producing its premium Lexus cars in China because of concerns over quality and profitability, is now considering it to ignite growth and narrow sales gaps with its German rivals, four company insiders told Reuters.
A South Korean appeals court on Friday found the chief of Lotte Group guilty of charges including bribery and breach of trust, but suspended his jail term, setting him free, according to Yonhap news agency.
SoftBank Group Corp is nearing a deal to invest about $500 million in Grab as part of roughly $1 billion that Southeast Asia’s biggest ride-hailing firm is seeking in its latest funding, sources with knowledge of the matter said.
The United States and the European Union must quickly flesh out their aim of cutting trade barriers, German Economy Minister Peter Altmaier said ahead of an EU trade meeting on Friday.
Samsung Electronics Co Ltd estimated third-quarter operating profit jumped by a fifth to a record high, with its semiconductor unit bolstered by robust demand from data centers and gains in production yields.
Oil prices rose on Friday as traders anticipated a tighter market due to U.S. sanctions against Iran’s crude exports, which are set to start next month.
Global oil markets could witness a modest surplus into early 2019 as new spare capacity comes online, despite strong demand and uncertainty on the size of supply losses from Iran due to U.S. sanctions set to start next month, Goldman Sachs said.
The U.S. economy likely created jobs at a brisk clip in September, with the unemployment rate probably falling to an 18-year low of 3.8 percent, signaling a further tightening in labor market conditions.
Oil prices rose on Friday, as traders focused on U.S. sanctions against Iran’s crude exports that are set to start next month to tighten global markets.
Asian shares wobbled on Friday after benchmark U.S. Treasury yields surged to a fresh seven-year high and strong economic data fanned concerns about inflation and the risk of faster-than-expected interest rate rises.
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