BERLIN (Reuters) – Volkswagen (VOWG_p.DE) will report excellent group results this year, its chief executive said, helped by expected record vehicle sales and by spending cuts. The carmaker’s popularity with motorists appears to have weathered the storm following the emissions scandal of September 2015, which has cost Volkswagen (VW) billions of euros in fines and
PINGYANG, China/SHANGHAI (Reuters) – Li Mingjie is a pet industry investor’s dream. The 23-year-old e-commerce worker spares little expense to make his pooch happy. “I’ll happily splash out on my dog,” Li told Reuters as he walked his brown poodle Coco in Pingyang, a town on China’s east coast. “She is like a child to
ROME (Reuters) – Steelmaker ArcelorMittal has told commissioners running Italy’s Ilva plant that it wants changes made to the contract in which it agreed to buy the company in order to protect it from legal challenges in Italy. ArcelorMittal, the world’s top steelmaker, reached a 1.8-billion-euro ($2.1 billion) deal to buy Ilva in June but
(Reuters) – Makers of craft beer, artisanal spirits, hard cider and mead may lift their glasses a bit higher next year as the result of a little noticed provision in the sweeping tax overhaul the U.S. Congress passed this week. Tucked away in Part IX, sections 13801 through 13808, are sharply lowered excise taxes on
PARIS (Reuters) – Boeing Co (BA.N) is eyeing a broad partnership with Embraer (EMBR3.SA) reaching beyond commercial aircraft to defense and global services, but its shape hinges on talks with the Brazilian government. The U.S. aerospace group has yet to make a formal offer and its final structure would be driven by talks that
SAN FRANCISCO (Reuters) – Investors saddled in 2017 with the market’s worst performers, including Under Armour and General Electric, may do well to remember as December draws to an end that lumps of coal sometimes turn into diamonds. As investment advisors rebalance clients’ portfolios in the final weeks of the year, the instinct to dump
BRASILIA/PARIS (Reuters) – Boeing Co (BA.N) sought to calm Brazilian concern about a potential tie-up with Embraer SA (EMBR3.SA) after President Michel Temer and other officials warned they would veto any full takeover bid for the regional jet maker. While Temer said he would welcome an injection of foreign capital into Embraer, his warning was
NEW YORK (Reuters) – Amgen Inc (AMGN.O) said it expects to incur tax expenses of $6 billion to $6.5 billion over time as it repatriates cash it has accumulated around the world because of the new U.S. tax law signed by President Donald Trump on Friday. Some of the expense is also due to the
WASHINGTON (Reuters) – U.S. consumer spending accelerated in November and shipments of key capital goods orders increased for the 10th straight month, data showed on Friday, the latest signs of strong momentum in the economy as the year winds down. But the bullish growth picture was dimmed somewhat as the figures also showed household savings
SINGAPORE (Reuters) – Pilots at Cathay Pacific Airways Ltd (0293.HK) voted in favor of raising funds as a buffer against any actions the Hong Kong airline may take against them, such as unilateral benefit changes or job losses, their union said on Friday. The move underscores persistent pilot discontent at Cathay, where anger and distrust
(Reuters) – Alphabet Inc (GOOGL.O) said on Thursday its Executive Chairman Eric Schmidt will step down from his position to become a technical adviser as of its next regular board meeting in January. He will continue to serve on the Alphabet’s board of directors, the company said. (bit.ly/2BXJzz6) “The time is right in Alphabet’s evolution
(Reuters) – Boeing Co (BA.N) has held takeover talks with Brazilian planemaker Embraer SA (EMBR3.SA), the Wall Street Journal reported on Thursday, citing people familiar with the matter. Boeing and Embraer have been discussing a deal that would involve a relatively large premium to the Brazilian company’s market capitalization of $3.71 billion, the WSJ reported.
TOKYO (Reuters) – Kobe Steel Ltd, at the center of a data-falsification scandal that has shaken Japan’s manufacturing industry, admitted for the first time that executives were aware of the cheating, and reassigned three senior officials. Japan’s No.3 steelmaker, which supplies the manufacturers of cars, planes and trains across the world, has said about 500
(Reuters) – The online brokerage firm E*Trade Financial Corp (ETFC.O) will allow customers to trade bitcoin futures from Cboe Global Markets Inc (CBOE.O), the company said on its website Wednesday, joining its rivals in opening the door for more mainstream adoption of the cryptocurrency. Cboe’s bitcoin futures contract <0#XBT:> trades under the ticker symbol ‘XBT’.
(Reuters) – Shares of Chipotle Mexican Grill Inc fell as much as 3.3 percent after a report that public health officials are investigating a possible illness outbreak in one of the company’s restaurant in Los Angeles. An email from the Los Angeles Health Department’s Acute Communicable Disease Control unit says the agency “is aware of