Recall, product launch costs slash Ford third-quarter profit
DETROIT (Reuters) – Ford Motor Co reported a more than 50 percent drop in third-quarter net income on Thursday, saying its North American business suffered from lower sales, higher recall costs and a complicated introduction of a new pickup truck.
Hundreds of flights canceled in Lufthansa budget unit strike
AMSTERDAM (Reuters) – Cabin crews at Lufthansa budget units Eurowings and Germanwings staged a strike on Thursday in a row over pay and conditions, forcing the carrier to cancel hundreds of flights.
Samsung Electronics vows mobile rebound, dangles buyback after Note 7 shock
SEOUL (Reuters) – Samsung Electronics Co Ltd on Thursday said it aims to recover quickly from the disastrous withdrawal of the fire-prone Galaxy Note 7 that dragged third-quarter mobile earnings to their lowest level in nearly eight years.
Carlyle, Bain to battle for McDonald’s China assets as TPG pulls out
HONG KONG (Reuters) – Carlyle Group LP and Bain Capital LLC are the only major global buyout firms left bidding for McDonald’s Corp’s restaurants in China and Hong Kong after TPG Capital Management LP [TPG.UL] pulled out, people close to the matter s…
Italy judge agrees tax probe settlement with head of Apple’s Irish unit: source
MILAN (Reuters) – A Milan judge has accepted a settlement agreement with the head of Apple’s Irish-based unit Apple Sales International as part of a probe into allegations the U.S. tech giant failed to pay corporate taxes in Italy to the tune of 879 mi…
European shares up as banks reassure, dollar holds near highs
LONDON (Reuters) – Reassuring results from some of Europe’s biggest banks gave financials a boost on Thursday and helped offset weakness in oil-related stocks, while higher bond yields underpinned the dollar.
VW brand profit plunges, Porsche lifts group
BERLIN (Reuters) – Volkswagen said third-quarter operating profit at its core brand plunged more than half, adding weight to management calls for cutbacks at VW’s biggest division.
China courier ZTO delivers year’s biggest U.S. IPO
NEW YORK (Reuters) – Chinese package delivery company ZTO Express said it raised $1.4 billion in the biggest U.S. initial public offering of the year on Wednesday as its backers cashed in on China’s booming online-shopping industry.
Exclusive: General Electric wins $900 million Brazil power plant, grid contract
NEW YORK (Reuters) – General Electric has won a $900 million contract to build a 1,500 megawatt natural-gas-fired combined-cycle power plant in the Brazilian state of Sergipe, the largest such plant in Latin America, company executives said.
Network maker Nokia outperforms Ericsson in third quarter
HELSINKI (Reuters) – Nokia on Thursday reported falling quarterly sales and profits for its network gear business, but outperformed rival Ericsson in a weak market thanks to cost cuts after its recent acquisition of Alcatel-Lucent.
