Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker's $63 billion takeover of seed maker Monsanto. Several large investors said they will not support aspirin investor Bayer's management in a key vote schedRead more »
"We think the dollar is likely to depreciate when the global economy improves and also when global investors become more risk-averse," said UBS strategists in a research note, in a break with what they said was the dollar's traditional outperformance when the U.S. economy outperforms its
COPENHAGEN — Pilots for Scandinavian Airlines on Friday launched an open-ended strike following the collapse of pay negotiations, forcing the company to cancel virtually all its flights — 673 of them, affecting 72,000 passengers.The Stockholm-based carrier said talks on a new collective bargaining agreement
Daimler AG said its financial targets have become harder to achieve after a tough start to the year, forcing the auto manufacturer to step up efforts to drive down costs. The Mercedes-Benz maker’s first-quarter profit slumped 16 percent after a decline in deliveries combined with the rising cost of
Renault SA will propose to Nissan Motor Co a plan to create a joint holding company which would give both firms equal footing as the French automaker seeks further integration with its Japanese partner, the Nikkei newspaper reported on Friday. Under the proposal, both firms would nominate a nearly equal
European stocks and U.S. equity futures nudged lower alongside Asian shares on Friday as earnings season continued apace. Raw material producers fell, outweighing gains in healthcare companies to drag the Stoxx Europe 600 into the red.
German automaker Daimler, which makes armoured limousines used by North Korean leader Kim Jong Un, says it has no idea where he got them and has no business dealings with the North. Kim has raised eyebrows by using Daimler-branded stretch limousines at several very high-profile summits, including his
BANGKOK — Shares were mostly lower in Asia on Friday after an overnight decline on Wall Street spurred by disappointingly weak earnings reports from 3M and some other industrial companies.Concern that China may temper its economic stimulus pulled the Shanghai benchmark down 1.2% to 3,086.40. Japan'
Serkan Toto of Kantan Games says Nintendo may be back at its own game of "low-balling" hardware and software sales guidance. He also says the company is in a "very good spot" for now.
Preparations for a partial initial public offering of the division, which makes components for combustion and electric-powered vehicles, will be completed toward the end of the second half, the Hanover-based company said Friday in a statement. Continental now sees a listing for the division -- known
Glencore Plc shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through "corrupt practices". After the markets shut on Thursday, Glencore said the U.S. Commodity Futures Trading Commission
The resignation of Deloitte comes as an independent review committee set up by Ferrexpo investigates “discrepancies” in payments to Blooming Land, a charitable foundation established primarily to coordinate the company’s philanthropic activities. The committee was set up in February after Ferrexpo’s
Several large investors said they will not support aspirin investor Bayer's management in a key vote scheduled for the end of its annual general meeting. Bayer's management, led by chief executive Werner Baumann, could see an embarrassing plunge in approval ratings, down from 97 percent at last
With some of the nation’s largest companies scheduled to report earnings, investors will be looking for evidence that an improving corporate sector will support valuations at a time when the government is paring back stimulus. A stronger dollar is the latest headwind, while the memory of a flood of
OTTAWA — Big business leaders worried about Canada's aging demographics have been urging political parties to avoid inflaming the immigration debate ahead of this fall's federal election.The head of the lobby group representing chief executives of Canada's largest corporations said he'
TOKYO — Japanese entertainment and electronics company Sony Corp. has reverted to profitability for the quarter through March, boosted by robust demand for game software and network services, as well as gains from Spotify.Sony reported an 87.9 billion yen ($787 million) January-March profit Friday, a
BEIJING — Chinese President Xi Jinping promised Friday to set high standards for Beijing's sweeping infrastructure-building initiative as fellow leaders praised the effort despite worries it is saddling some countries with too much debt.Xi avoided mentioning debt in a speech at a Belt and Road forum
The rules should be changed as soon as next year to allow hydrogen into the natural gas grid, members of Parliament on the Business, Energy and Industrial Strategy Committee said Thursday in a report on carbon capture and storage. Amid a debate about how Britain should leave the European Union, some
There are now a multitude of bribery and corruption investigations in jurisdictions ranging from Brazil to the U.S., drawing comparisons with the early 1980s when Glencore’s founder Marc Rich was prosecuted for tax evasion. Glencore is among the trading houses being investigated by the Justice Department
(Bloomberg) -- Bayer AG Chief Executive Officer Werner Baumann faces the biggest test of his three-year tenure as shareholders increasingly upset with the Monsanto takeover gather for a day-long meeting that will culminate in a crucial confidence vote.
Up 60 percent this year alone, China’s Kweichow Moutai Co. is reaching all kinds of milestones. It commands a premium over all of the country’s major consumer staples, and has just leapfrogged global giants like Anheuser-Busch InBev SA, Unilever and HSBC Holdings Plc in market value for first time.
The U.S. is pushing to reduce its trade deficit with Japan and gain better access to the Asian nation’s agricultural market. Japan is looking for a concrete promise that it won’t be hit by possible U.S. tariffs on auto imports, after successfully winning an exemption to taxes imposed by the Trump administration
After a small rise in volatility this week - albeit from multi-year lows - currency markets were quiet at the European open, with most major pairs stuck in tight trading ranges. Data at 1230 GMT is expected to show that U.S. gross domestic product (GDP) increased 2.0 percent year-on-year in the first
Margin traders’ net long yen positions were at 208,613 contracts as of April 23, near a record reached just last week, according to the latest data from the Tokyo Financial Exchange Inc. That’s worth $2.09 billion. As local markets approach a 10-day break, everyone from traders to fund managers has
Pumping through a section of the Druzhba pipeline into southern and central Europe was halted overnight, Ukraine said. The halt comes at a critical time for a global oil market that’s been hit by restricted supplies of so-called heavier crudes from the likes of Iran, Venezuela, Canada and even Mexico
A Christchurch businessman has pleaded guilty to sharing a livestream video that was recorded by a gunman last month as he began killing 50 people at two New Zealand mosques. Philip Arps pleaded guilty to two counts of distributing the mosque video and will remain in jail until he's sentenced on