Business & Finance News
The merger between T-Mobile US and Sprint is within reach, the head of T-Mobile’s main owner Deutsche Telekom said on Wednesday, vowing to go on the offensive to close a valuation gap with U.S. market leaders AT&T and Verizon.
Renault’s shares fell on Wednesday after credit rating agency Moody’s cut its rating on the French carmaker’s debts to “junk” status.
BlackRock , the world’s biggest asset manager, has appointed two executives to oversee Continental Europe for the first time as part of its efforts to expand in the region, a memo to staff on Wednesday seen by Reuters showed.
German sportswear makers Adidas and Puma both said on Wednesday that the coronavirus outbreak was hurting their business in China due to store closures and fewer Chinese tourists traveling and shopping in other markets.
General Motors will begin laying off around 1,500 employees in Thailand in June, after announcing the sale of its production plants in the country, a government official said on Wednesday.
Hyundai Motor Group Chairman Mong-Koo Chung plans to give up his board seat, in the latest sign that the octogenarian patriarch of South Korea’s second-largest conglomerate is preparing to hand the reins over to his son.
German sportswear maker Adidas said on Wednesday that business in the Greater China area had dropped by about 85% year-on-year as the coronavirus outbreak has resulted in store closures and fewer customers visiting the remaining outlets.
SoftBank Group Corp said on Wednesday it plans to borrow up to 500 billion yen ($4.5 billion) from 16 domestic and foreign financial institutions using almost a third of its stake in telco SoftBank Corp as collateral.
Vodafone and Telekom Italia have offered to allow rivals access to sites in some cities for up to nine years, a proposal aimed at allaying EU antitrust concerns over the creation of Italy’s largest mobile tower company, according to an EU document seen by Reuters.
Qatar Airways has bought a $600 million stake in British Airways-owner IAG to increase its holding to 25.1%, advancing its strategy of building a global portfolio of international carriers.
Shanghai has compiled a list of firms, including local units of multi-nationals Unilever PLC and 3M Co , as eligible for millions of dollars in subsidized loans to ease any blow from the coronavirus outbreak, according to bankers and documents seen by Reuters.
Qatar Airways Group said on Wednesday it had increased its holding in British Airways-owner IAG to 25.1%, buying another stake worth $600 million as part of a strategy it described as being highly successful.
Metro Bank’s interim chief executive officer, Dan Frumkin, will take over the CEO role on a permanent basis, the British lender said on Wednesday.
Investigators with India’s antitrust watchdog have found no evidence that the country’s biggest airline, IndiGo , and four rival carriers colluded to fix ticket prices, three sources with direct knowledge of the matter told Reuters.
While coronavirus fears curtail much of China’s bustle, traders are getting back to business at the world’s largest electronics market, buying and selling from bags and suitcases on the streets outside their shut premises.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
