BMW warns of significant profit fall in 2019, seeks 12 billion euros in cuts
BMW on Wednesday said it expected group pretax profit to fall by more than 10 percent in 2019 and announced a sweeping 12 billion euro ($13.6 bln) cost savings and efficiency plan to help offset higher technology investment and currency costs.
Trial of former Nissan boss Ghosn expected to start in September: NHK
The trial of former Nissan Motor Co boss Carlos Ghosn on charges of under-reporting his salary is expected to start in September, public broadcaster NHK said on Wednesday.
Japan government downgrades economy view as U.S.-China trade war bites
Japan’s government downgraded its assessment of the economy in March for the first time in three years, blaming a bruising U.S.-China trade war for slumping exports and industrial output.
Dongfeng-Nissan JV says mid-term China sales plan has not changed
Nissan Motor’s China joint venture with Dongfeng has not made any changes to its mid-term China sales plan, a company spokeswoman told Reuters on Wednesday, responding to a report that it has cut its sales target.
Exclusive: How Iran fuel oil exports beat U.S. sanctions in tanker odyssey to Asia
At least two tankers have ferried Iranian fuel oil to Asia in recent months despite U.S. sanctions against such shipments, according to a Reuters analysis of ship-tracking data and port information, as well as interviews with brokers and traders.
Oil majors rush to dominate U.S. shale as independents scale back
In New Mexico’s Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry’s notorious boom-and-bust cycles.
Fed’s balance sheet plan, economic outlook under microscope
The U.S. Federal Reserve on Wednesday is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and release long-awaited details of a plan to end the monthly reduction of its massive balance sheet.
Tencent Music hits low pitch after first earnings report exposes costs
Chinese streaming firm Tencent Music Entertainment Group delivered its first earnings report as a public company, meeting market expectations but exposing soaring license and content production costs which pulled its shares down 6 percent.
Asian shares slip from 6-month high ahead of Fed policy decision
Asian shares slid on Wednesday as investors took profits ahead of a policy decision by the U.S. Federal Reserve which is expected to shed more light on its interest rate plans for the rest of the year.
Australia’s AMP scraps short-term bonuses to avert possible board spill
Australia’s AMP Ltd on Wednesday said it will not pay short-term bonuses to most executives, a move that could help it avoid possible board removal should investors vote against its remuneration practices for the second consecutive year.
