Continental, Osram cut costs as autos downturn hits suppliers
Auto suppliers Continental and Osram plan deeper cost cuts after reporting weaker results on Tuesday, as a global slowdown hits the car industry.
Nissan cuts profit forecast after 70% quarterly plunge
Nissan Motor Co reported a 70% drop in quarterly profit on Tuesday and cut its full-year forecast to an 11-year low, hit by a strong yen and falling sales, and highlighting the turmoil at the Japanese automaker after the ouster of Carlos Ghosn.
Global stocks seek enlightenment from Trump on trade
World shares inched higher on Tuesday as investors awaited a speech by President Donald Trump on U.S. trade policy and on news he was likely to delay a decision on European auto tariffs.
Nissan reports 70% second quarter profit slump, slashes full-year outlook
Nissan Motor Co Ltd reported a 70% profit tumble on Tuesday and cut its full-year outlook to an 11-year low, as the Japanese automaker was hit by falling sales that highlight its ongoing turmoil after the ouster of former head Carlos Ghosn.
Huawei to give staff $286 million bonus for helping it ride out U.S. curbs
Chinese telecoms giant Huawei Technologies said on Tuesday it will hand out 2 billion yuan ($286 million) in cash rewards to staff working to help it weather a U.S. trade blacklisting.
L’Oreal, Nestle score big at Alibaba’s Singles’ Day shopping fest
Chinese shoppers snapped up food supplements, facial masks and baby milk powder at the world’s largest shopping festival, with brands such as L’Oreal and Nestle among the biggest winners, Alibaba data showed.
Asia stocks in dark on trade, seek enlightenment from Trump
Asian share markets edged higher on Tuesday and Europe looked set to follow as investors awaited a speech by President Donald Trump on U.S. trade policy and on news he will likely delay a decision on whether to slap tariffs on European autos.
Giant Aramco listing a critical test for young Saudi exchange
The imminent listing of oil giant Aramco will be a pivotal moment for Saudi Arabia’s young and untested Tadawul stock exchange.
Osram backs AMS takeover as auto downturn triggers 2019 loss
Osram urged shareholders to back a $5 billion takeover bid from Austria’s AMS and said it would cut costs and not pay a dividend as it posted a loss for the fiscal year ending in September, hit by a downturn in the auto industry.
Markets hope for positive signs from Trump trade speech
U.S. President Donald Trump is scheduled to discuss the country’s trade policy at the Economic Club of New York on Tuesday, and markets from frothy stocks to jittery bonds are likely to hang on every word.
