AIG profit beats on stronger underwriting in general insurance unit
Insurer American International Group Inc on Thursday reported a quarterly profit that beat estimates, as the company booked underwriting income in its general insurance business.
Airbus, Quebec to buy out Bombardier’s A220 stake
Airbus has teamed up with the Quebec government to buy Bombardier’s 33.5% stake in the A220 passenger jet program, completing the Canadian firm’s exit from civil aviation and boosting Airbus’s position in a new battleground with Boeing.
Nestle boss Schneider eyes more deals to bolster growth ambitions
Nestle Chief Executive Mark Schneider will fine-tune his transformation plans with more acquisitions, he said after the Swiss food group lowered growth expectations on Thursday.
Organisers of cancelled mobile conference play down compensation chances
Companies that have spent money on a major telecoms conference in Barcelona that has been cancelled after mass withdrawals due to the coronavirus outbreak cannot expect compensation under the organisers’ standard insurance, they said on Thursday.
Nissan slashes profit outlook after sales slide, says more restructuring needed
Nissan Motor Co on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management to fix a company still reeling from the scandal surrounding former leader Carlos Ghosn.
Investment bank loss mars Thiam’s final act at Credit Suisse
Credit Suisse posted its highest annual profit in nearly a decade on Thursday, but volatile earnings at its investment bank and trading divisions muted outgoing Chief Executive Tidjane Thiam’s swan song.
UK’s Domino’s finds buyers for Norway business
Britain’s biggest pizza delivery company Domino’s Pizza Group said on Thursday it would sell its Norwegian business to existing minority shareholders of the business, kicking off the sale of its loss-making overseas operations.
Oil prices fall on bearish demand forecasts
Oil prices fell on Thursday after OPEC and IEA reports cut back demand forecasts for this year on the back of the coronavirus outbreak in China, the world’s biggest oil importer.
Qantas raises the stakes in pilot pay dispute
Australia’s Qantas Airways has urged its pilots to reach agreement on a pay deal for the world’s longest commercial flights or face being replaced for those routes.
Jump in coronavirus cases yanks rally into reverse
A sharp rise in the number of coronavirus deaths and infections unnerved world markets on Thursday, as traders halted the rally in stocks and retreated to the safety of government bonds and gold.
