Business & Finance News
Turkish airline Atlasglobal has decided to suspend all its operations and told its personnel not to come to work on Thursday, the aviation sector news website AirportHaber and other media reported.
A sale of Thyssenkrupp’s elevator division is currently in focus, the group’s finance chief said on Thursday, adding an ongoing auction was “very competitive”.
Nestle Chief Executive Mark Schneider has made great strides in positioning the world’s largest food company for the future with his aggressive deal-making since taking over in January 2017.
Food giant Nestle will hit its 2020 organic growth target later than envisaged, it said on Thursday after posting its highest annual growth in four years and improved profitability.
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.
Alphabet Inc-owned Google said on Thursday it has completed its $2.6 billion buyout of privately held big-data analytics firm Looker Data Sciences after winning clearance from Britain’s competition watchdog.
Thyssenkrupp’s steel division swung to a loss in the first quarter, raising doubts over Europe’s second-biggest steelmaker, the conglomerate’s core following its planned sale of its elevator business.
Dutch paints and coatings maker Akzo Nobel aims to outpace its competitors’ revenue growth in the coming years while lifting profitability, it said on Thursday.
Japanese beer and beverage maker Asahi Group Holdings said a South Korean consumer boycott of Japanese goods cost it around 3 billion yen ($27.32 million) last year.
Barclays on Thursday said Britain’s financial regulators are probing the historical links between Chief Executive Jes Staley and the U.S. financier Jeffrey Epstein, who killed himself while awaiting trial on sex trafficking charges.
Food giant Nestle expects a continued increase in organic sales growth this year after it hit a four-year high at 3.5% and profitability improved in 2019, helped by cost cuts and a focus on fast-growing businesses.
Credit Suisse posted a 69% rise in annual net profit on Thursday in a bittersweet swan song for outgoing Chief Executive Tidjane Thiam.
Thyssenkrupp posted a 77% drop in adjusted operating profit in the first quarter, blaming a weak automotive market while its steel division, part of the group’s core following a planned divestment of its elevator business, swung to a loss.
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.
Oil prices were mixed on Thursday as concerns about falling demand caused by travel restrictions tied to the coronavirus outbreak in China, the world’s biggest oil importer, outweighed expectations of supply cuts from major producers.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
