Bayer may outsource some drug research – works council
Bayer’s chief executive is considering farming out certain drug research activities to cut costs amid slower growth at its pharmaceuticals division, the German company’s works council said on Monday.
Bank of America profit beats estimates on cost cuts, loan growth
Bank of America Corp reported a better-than-expected rise in quarterly profit on Monday as the second-largest U.S. lender reined in costs, while higher interest rates and loan growth helped offset lower bond trading revenue.
Prosecutors search Opel offices in Germany in diesel probe
German prosecutors searched German sites of carmaker Opel, a division of PSA Group , in Ruesselsheim and Kaiserslautern on Monday as part of a probe into diesel exhaust emissions.
Novo Nordisk picks AstraZeneca executive to head biopharma business
Novo Nordisk has hired AstraZeneca’s head of cardiovascular and metabolic diseases to head its biopharma business, which has been struggling with declining sales and a failed acquisition.
Disney offers EU antitrust concessions over $71.3 billion Fox deal
Walt Disney has offered concessions in an attempt to allay EU antitrust concerns over its $71.3 billion bid for Twenty-First Century Fox Inc’s entertainment assets, the European Commission said on Monday.
Labor strife in India’s manufacturing hubs may undermine Modi’s jobs push
Labor unrest is on the rise at two centers in India where motorcycles and components are manufactured, underlining the problems Prime Minister Narendra Modi’s government faces in creating new manufacturing jobs that are sustainable and pay attractive w…
Chinese electric carmaker NIO delivers 3,268 SUVs in third quarter
Chinese electric carmaker NIO Inc said on Monday it delivered 3,268 electric SUVs in the third quarter, exceeding its own target of 2,900-3,000 vehicles.
Bahrain minister backs boycott of Uber over Khashoggi case
Bahrain’s foreign minister called for a boycott of the ride-hailing company Uber Technologies [UBER.UL] after its chief executive officer said he will not attend a business conference in the kingdom’s ally Saudi Arabia.
Sears, once a retail titan, files for Chapter 11 bankruptcy
Sears Holdings Corp filed for Chapter 11 bankruptcy on Monday with a plan to close about 142 of its 700 stores by the end of the year, throwing into doubt the future of the century-old retailer that once dominated U.S. malls but has withered in the age…
Korean Air chief indicted on embezzlement, other charges: prosecutors
Korean Air Lines Co Ltd Chairman Cho Yang-ho was indicted on Monday on charges including embezzlement and breach of trust, South Korean prosecutors said, adding to a string of woes at the country’s biggest airline group.
