Volkswagen brand seeks 6-billion-euro cost, efficiency gains by 2023: Handelsblatt
Volkswagen’s core brand will seek cost and efficiency gains of almost 6 billion euros ($6.8 bln) in an effort to raise the VW brand’s operating margin to 6 percent by 2023, German daily Handelsblatt said, citing company sources.
Goldman Sachs likely to boost legal reserves for 1MDB: analysts
Goldman Sachs Group Inc may need to boost its legal reserves by as much as $1 billion to prepare for potential penalties related to its dealings with the Malaysian sovereign wealth fund 1MDB, analysts said.
Petrobras unveils plan to boost asset sales, deepwater investment
Brazilian state-run oil company Petroleo Brasileiro SA plans to raise some $26.9 billion via asset sales and partnerships by 2023 while boosting investments on the front edge of an anticipated production boom in Brazil.
Oil edges higher before OPEC meeting
Oil prices inched higher on Wednesday ahead of a meeting of the world’s biggest exporters who will discuss cutting output to help shore up prices and curb excess supply.
An OPEC return to 2016 oil quotas could mean a cut of 1.2 million bpd
If OPEC and its allies led by Russia agree to reduce oil output next year by reverting to 2016 production quotas, it would imply an OPEC-only supply curb of at least 1.2 million barrels per day (bpd), according to Reuters calculations.
Yum Brands sees 2-3 percent same-store sales growth in 2019
Yum Brands Inc on Wednesday said it expects same-store sales growth in the range of 2 percent to 3 percent for fiscal 2019, betting on strong sales at its KFC and Taco Bell chains.
Exclusive: Venezuela’s refinery woes send fuel imports soaring – internal documents
Venezuela this month plans to import over 300,000 barrels per day (bpd) of refined products to ease domestic fuel shortages caused by hobbled refineries and need to prioritize exports, according to internal documents seen by Reuters.
Sanofi plans 670 job cuts in France by end 2020
French drugmaker Sanofi told unions on Wednesday it was planning to cut 670 jobs in France, a union representative told Reuters.
Ahead of OPEC meeting, Trump urges producers to keep oil flowing
U.S. President Donald Trump on Wednesday called on the Organization of the Petroleum Exporting Countries and its allies not to cut oil production next year, saying it would trigger higher oil prices worldwide.
OPEC, Russia moving closer to agreeing oil cuts for 2019
A key monitoring committee of OPEC and its allies, including Russia, agreed on Wednesday on the need to cut oil output in 2019, two sources familiar with the decision said, adding that debates about volumes and the baseline for cuts were ongoing.
