Business & Finance News
Deutsche Bank said on Thursday that Capital Group now holds a 3.1% stake in the German bank, making the Los Angeles-based firm one of its largest shareholders.
Cost cuts helped Nokia to a surprise rise in its October-December underlying profit on Thursday, although the Finnish telecom network equipment maker flagged tough times ahead and said it would not propose a dividend for 2019.
Japan’s Mitsubishi Heavy Industries said on Thursday it will book a 496.4 billion yen ($4.5 billion) special loss after its aircraft unit delayed the delivery of its SpaceJet regional jet for at least another year until after March 2021.
China on Thursday said it would halve additional tariffs levied against 1,717 U.S. goods last year, following the signing of a Phase 1 deal that brought a truce to a bruising trade war between the world’s two largest economies.
Oil futures rose for a second day on Thursday amid investor optimism over unconfirmed reports of possible advances in combating the coronavirus outbreak in China which could cause fuel demand to rebound in the world’s biggest oil importer.
Sanofi said on Thursday its earnings per share were likely to rise by around 5% in 2020, weeks after it promised to focus on vaccines and key treatments including eczema medicine Dupixent until 2022.
French energy major Total said on Thursday that its net adjusted profit for the fourth quarter of 2019 was steady at $3.2 billion compared with the same period a year ago, supported by strong cash flow, despite low oil prices.
Norwegian Air cut its capacity by a bigger-than-expected 29% in January from a year earlier, removing unprofitable routes while boosting its income from remaining flights, its traffic data showed on Wednesday.
BP is seeking buyers for its stake in a major Algerian gas plant deep in the Sahara desert after recent talks on a sale to Russian oil giant Rosneft failed, three industry sources told Reuters.
Finnish telecom network equipment maker Nokia reported on Thursday a surprise rise in October-December underlying profit, driven by cost cuts, and said most of its 2020 profit will be generated in the fourth quarter.
China on Thursday said it would halve additional tariffs levied against 1,717 U.S. goods last year, following the signing of a Phase 1 trade deal that brought a truce to a bruising trade war between the world’s two largest economies.
Sweden’s Volvo Car Group, owned by China’s Geely, reported an 18% rise in fourth-quarter operating profit as cost cuts and growing sales more than offset the impact of subdued global auto markets.
Norway’s Equinor reported a smaller-than-expected drop in fourth-quarter core operating profits on Thursday as the startup of a major new oilfield partly mitigated the impact from weak European gas markets.
Sweden’s Volvo Car Group, owned by China’s Geely, reported an 18% rise in fourth-quarter operating profit as cost cuts and growing sales more than offset the impact of subdued global auto markets.
Global stocks extended their recovery on Thursday, cheered by record closes in Wall Street benchmarks following encouraging economic data, and after China announced a cut in tariffs on some imported goods from the United States.
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