U.S. merger within reach, D.Telekom CEO goes on offensive
The merger between T-Mobile US and Sprint is within reach, the head of T-Mobile’s main owner Deutsche Telekom said on Wednesday, vowing to go on the offensive to close a valuation gap with U.S. market leaders AT&T and Verizon.
Renault shares fall after Moody’s cuts company to ‘junk’ status
Renault’s shares fell on Wednesday after credit rating agency Moody’s cut its rating on the French carmaker’s debts to “junk” status.
BlackRock bolsters European management as part of post-Brexit expansion
BlackRock , the world’s biggest asset manager, has appointed two executives to oversee Continental Europe for the first time as part of its efforts to expand in the region, a memo to staff on Wednesday seen by Reuters showed.
Adidas, Puma warn of coronavirus hit to China business
German sportswear makers Adidas and Puma have both warned that the coronavirus outbreak was hurting their business in China due to store closures and fewer Chinese tourists travelling and shopping in other markets.
Merged T-Mobile U.S. to close valuation gap on Big Two: Deutsche Telekom CEO
The merger between T-Mobile US and Sprint is within reach, the head of its main owner Deutsche Telekom said, forecasting that the combined business would quickly close a valuation gap on market leaders AT&T and Verizon .
Puma warns of hit to sales and profits from coronavirus
German sportswear group Puma on Wednesday said it expected China’s coronavirus outbreak to hit its sales and profits in the first quarter but it still hopes to reach its targets for 2020.
General Motors to lay off all 1,500 plant workers in Thailand following sale
General Motors will begin laying off around 1,500 employees in Thailand in June, after announcing the sale of its production plants in the country, a government official said on Wednesday.
Hyundai Motor chairman to give up board seat as succession looms
Hyundai Motor Group Chairman Mong-Koo Chung plans to give up his board seat, in the latest sign that the octogenarian patriarch of South Korea’s second-largest conglomerate is preparing to hand the reins over to his son.
Adidas’ China business activity falls 85% due to coronavirus
German sportswear maker Adidas said on Wednesday that business in the Greater China area had dropped by about 85% year-on-year as the coronavirus outbreak has resulted in store closures and fewer customers visiting the remaining outlets.
Exclusive: Unilever, 3M on list of firms eligible for China loans to ease coronavirus crisis – sources
Shanghai has compiled a list of firms, including local units of multi-nationals Unilever PLC and 3M Co , as eligible for millions of dollars in subsidized loans to ease any blow from the coronavirus outbreak, according to bankers and documents seen by…
