Volvo Cars posts rise in fourth-quarter profit, helped by cost cuts and sales growth
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.
Equinor fourth-quarter profit beats forecast amid oilfield startup
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.
Global stocks gain after China cuts U.S. import tariffs, virus fears wane
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.
Toyota lifts annual profit forecast, looking at alternate sources for China-made parts
Toyota Motor Corp raised its annual operating profit forecast by 4.2% on favorable currency rates and better-than-expected vehicle sales, but added that the impact of the new coronavirus was difficult to gauge and not yet been factored in.
UniCredit cuts further its stake in Turkey’s Yapi Kredi
Italy’s biggest bank by assets UniCredit took a further step on Wednesday in a strategy to streamline its structure, announcing the placement of a 12% stake in Turkish bank Yapi Kredi .
China likely considering disaster clause in Phase 1 deal with U.S.: Global Times
China is likely considering using a disaster-related clause in its Phase 1 trade deal with the United States due to the coronavirus outbreak that has killed more than 500 and infected tens of thousands, the Global Times reported on Thursday.
Huawei launches legal action against Verizon alleging unauthorized patent use
China’s Huawei Technologies Co Ltd has launched legal action against Verizon Communications Inc , alleging the U.S. carrier used 12 of its patents without authorization.
China to halve tariffs on some U.S. imports
China said on Thursday it will halve additional tariffs levied against 1,717 products imported from the United States last year, following the signing of a Phase 1 trade deal that brought a truce to a bruising trade war.
Mitsubishi postpones first SpaceJet delivery for at least another year
Japan’s Mitsubishi Aircraft Corp said on Thursday it will delay the first delivery of its SpaceJet regional jet for at least another year until after March 2021.
Stocks gain after China cuts trade tariffs, solid U.S. data
Asian stocks edged up on Thursday, cheered by record closes in Wall Street benchmarks after encouraging economic data, and after China announced a cut in tariffs on some imported goods from the United States.
