BP begins share buybacks as years of austerity pay off
(Reuters) – BP Plc said on Wednesday it would begin a share buyback program, making it the first major European energy company to resume buybacks since the 2014 price slump in a sign years of austerity have paid off.
Volkswagen says works council payments legal, after raids
FRANKFURT (Reuters) – Volkswagen said it had obeyed the law in the payment of its works council chief, Bernd Osterloh, whose office was raided on Tuesday along with those of its chairman, finance chief and head of personnel.
Bayer taps Nestle executive to stem eroding consumer care sales
FRANKFURT (Reuters) – German drugmaker Bayer has hired the head of Nestle’s baby food business to reverse a decline in revenue at its embattled consumer health division from next March.
Nestle reorganizes infant nutrition business
LONDON (Reuters) – Nestle , the world’s largest packaged food company, said on Wednesday it would reorganize its infant nutrition business to try to improve its performance.
Kobe Steel plant loses remaining industrial quality badge
TOKYO (Reuters) – A Kobe Steel plant, which is at the center of a data falsification scandal that has roiled supply chains around the world, has been stripped of all its industrial quality certifications, Japan’s government said on Wednesday.
Asian stocks skid as oil woes sap sentiment, euro stands tall
TOKYO (Reuters) – Asian stocks stumbled on Wednesday after weaker crude oil prices took a toll on Wall Street, while the euro kept big gains after enjoying a boost from robust German economic growth.
U.S. investor nears record 400-jet Airbus order: sources
DUBAI (Reuters) – Airline pioneer Bill Franke looked set to place a historic $40 billion order for around 400 Airbus A320 jets, shaking up the low-cost industry and turning the annual race between Airbus and Boeing for plane orders on its head.
Foxconn’s third quarter profit tumbles after iPhone X production hurdles
TAIPEI (Reuters) – Taiwan’s Foxconn reported a 39 percent slide in quarterly profit, far worse than expected, as the assembler of Apple Inc products saw margins squeezed by production bottlenecks for the iPhone X.
Kobe Steel’s Hatano plant to lose all JIS certifications: Nikkei
TOKYO (Reuters) – A unit of Kobe Steel is set to lose all of its Japan Industrial Standards (JIS) certifications at its Hatano plant, including one already revoked last month, the Nikkei reported on Wednesday.
Qualcomm invests in Chinese AI facial recognition startup SenseTime
BEIJING (Reuters) – Chinese artificial intelligence (AI) startup SenseTime Group said on Wednesday it has sealed an investment from chipmaker Qualcomm Inc as part of a funding round that will close later this year.
