EU competition policy under fire after Siemens-Alstom deal blocked
Siemens and Alstom’s plan to create a European rail champion collapsed on Wednesday after EU regulators rejected the deal, prompting Germany and France to call for an overhaul of EU competition policy to better meet global challenges.
Germany presses for changes in EU competition rules after Siemens/Alstom deal blocked
Europe should change its competition rules to facilitate cross-border mergers and create European champions which can compete with rivals from China and the United States, German Economy Minister Peter Altmaier said on Wednesday.
Bouygues confident about Alstom prospects despite EU ruling
French conglomerate Bouygues, which has a 28 percent stake in Alstom, said it regretted the European Union’s decision to veto a merger between Alstom and Siemens but added it was confident over Alstom’s prospects.
Volvo to recall 167,000 cars due to possible tailgate fault
Volvo Cars said on Wednesday it would recall 167,000 of its XC60 model vehicles due to a possible fault with the electric tailgate mechanism.
Exclusive: Huawei needs 3-5 years to resolve British security fears – letter
A $2 billion effort by China’s Huawei to address security issues raised in a British government report last year will take between three and five years to produce results, according to a company letter to British lawmakers seen by Reuters.
Eli Lilly cuts 2019 forecast on trial failure, Loxo deal
Eli Lilly and Co cut its 2019 forecast for profit and revenue on Wednesday, citing the recent trial failure of its conditionally approved cancer drug Lartruvo and costs related to its pending acquisition of Loxo Oncology.
Carlyle quarterly earnings jump 35 percent on higher fees
Private equity firm Carlyle Group LP on Wednesday reported a 35 percent rise in distributable earnings for the final three months of 2018, supported by a rise in the fees it earns on the money it manages for investors.
SoftBank’s Son unveils $5.5 billion buyback, laments share price
Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent increase in quarterly operating profit buoyed by rising valuations for its technology investments.
Spotify posts surprise profit in fourth quarter, sees loss in 2019
Spotify, the world’s most popular paid music streaming service, reported an unexpected fourth-quarter operating profit on Wednesday and sales growth matching expectations, but it said it sees a loss of 200-360 million euros in 2019.
Reviving M&A hopes, Uniper starts open-minded talks with Fortum
Uniper said on Wednesday nothing was off limits in fresh talks with Finland’s Fortum, its top shareholder, renewing investor hopes for a full takeover of the 9.7 billion euro ($11.1 billion) German energy group.
