Business & Finance News
Insurer American International Group Inc on Thursday reported a quarterly profit that beat estimates, as the company booked an underwriting income in its general insurance business.
Airbus has teamed up with the Quebec government to buy Bombardier’s 33.5% stake in the A220 passenger jet program, completing the Canadian firm’s exit from civil aviation and boosting Airbus’s position in a new battleground with Boeing.
Nestle Chief Executive Mark Schneider will fine-tune his transformation plans with more acquisitions, he said after the Swiss food group lowered growth expectations on Thursday.
China’s Alibaba Group Holding Ltd reported a better-than-expected quarterly revenue on Thursday, as its core e-commerce and cloud computing businesses posted steady growth.
Insurer American International Group Inc on Thursday reported a quarterly profit compared to a year-earlier loss, helped by smaller catastrophe losses and improved underwriting in its general insurance business.
Companies that have spent money on a major telecoms conference in Barcelona that has been cancelled after mass withdrawals due to the coronavirus outbreak cannot expect compensation under the organisers’ standard insurance, they said on Thursday.
Britain’s financial regulators are probing historical links between Barclays Chief Executive Jes Staley and the U.S. financier Jeffrey Epstein, who killed himself while awaiting trial on sex trafficking charges, the bank said on Thursday.
Nissan Motor Co on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management to fix a company still reeling from the scandal surrounding former leader Carlos Ghosn.
Credit Suisse posted its best annual profit in nearly a decade on Thursday but volatile earnings at its investment bank and trading divisions took some of the shine off outgoing CEO Tidjane Thiam’s swan song.
Britain’s biggest pizza delivery company Domino’s Pizza Group said on Thursday it would sell its Norwegian business to existing minority shareholders of the business, kicking off the sale of its loss-making overseas operations.
Oil prices fell on Thursday after OPEC and IEA reports cut back demand forecasts for this year on the back of the coronavirus outbreak in China, the world’s biggest oil importer.
Australia’s Qantas Airways has urged its pilots to reach agreement on a pay deal for the world’s longest commercial flights or face being replaced for those routes.
Airbus plunged to a 1.362 billion euro ($1.48 billion) net loss in 2019, weighed down by a multinational bribery settlement, but the European aerospace group pledged to increase operating profit and deliver 880 commercial jets this year.
Nissan Motor Co on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management to fix a company still reeling from the scandal surrounding former leader Carlos Ghosn.
Australia’s Qantas Airways Ltd told pilots on Thursday that if it could not reach a pay deal soon covering the world’s longest commercial flights from Sydney to London, it would form a lower-cost employment entity, according to an internal memo.
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