Ferragamo CEO sees improved growth outlook in H2, upbeat on China
MILAN (Reuters) – Italian luxury leather goods maker Salvatore Ferragamo expects group results to improve in the second half of 2014 from the first six months on the back of strong demand in China and in global travel retail, its chief executive said o…
Car industry struggles to solve air bag explosions despite mass recalls
TOKYO/DETROIT (Reuters) – A year ago, Japan’s Takata Corp, the world’s second-largest maker of auto safety parts, believed it had finally contained a crisis more than a decade in the making.
Nestle aims to double direct commodities suppliers: paper
SPIELBERG Austria (Reuters) – Swiss food giant Nestle aims to boost its share of direct commodity purchases to ensure it keeps a tight grip on quality and supply chains, Chairman Peter Brabeck told an Austrian newspaper.
Oil price risks put inflation back in focus
BRUSSELS (Reuters) – Iraq will be foremost in investors’ minds in the coming week as oil price risk has returned to markets, complicating the task for central banks whose policies are beginning to diverge for the first time since the global financial c…
Peugeot recovery hangs on frugal Citroen revamp
AMSTERDAM (Reuters) – Citroen’s C4 Cactus is more than just another compact car. It’s a manifesto on wheels for the brand’s move down-market as parent PSA Peugeot Citroen struggles to return to profit.
Argentina’s YPF says its assets can’t be embargoed by country’s creditors
BUENOS AIRES (Reuters) – Argentina’s state oil producer, YPF, said on Saturday that since it is an “independent” company its assets cannot be embargoed by so-called holdout investors who are demanding full payment following the country’s massive 2002 b…
U.S. sanctions net snares the innocent, burdens business
WASHINGTON (Reuters) – On a Friday afternoon in March, Jose Luis Zamora pulled into a Lexus dealership in Dallas to test-drive a new car with his wife. Ready to pay, Zamora instead waited more than two hours before being informed his name had popped up…
Alstom backs GE bid as Bouygues stake deal takes shape
PARIS (Reuters) – The board of Alstom backed a proposed tie-up with General Electric on Saturday as the French government neared agreement with shareholder Bouygues over the last major outstanding plank of the deal.
Exclusive: American Apparel finds CEO misused funds; helped discredit employee – source
NEW YORK (Reuters) – An internal investigation at American Apparel Inc has found that its CEO Dov Charney violated company policies, ranging from misusing company funds to failing to stop the discrediting of at least one former employee who had accused…
Shell offers 30 million pounds to settle 2011 Nigeria oil spills: sources
LONDON (Reuters) – Royal Dutch Shell is ready to pay up to 30 million pounds ($51 million) in compensation for two oil spills in Nigeria in 2008 after a London court rejected a larger claim, sources involved in the case said on Friday.
