Japan’s Asahi says Korean boycott cost it 3 billion yen last year
Japanese beer and beverage maker Asahi Group Holdings said a South Korean consumer boycott of Japanese goods cost it around 3 billion yen ($27.32 million) last year.
Credit Suisse director Alexander Gut not to stand for re-election
Credit Suisse supervisory board member Alexander Gut will not stand for re-election at the group’s annual general meeting on April 30, the bank said alongside its annual results on Thursday.
Nestle pushes back growth target after solid 2019
Food giant Nestle expects growth to accelerate over the next two years toward its mid-single digit organic growth target, initially set for 2020, after it hit a four-year high at 3.5% and profitability improved in 2019.
Factbox: Nestle CEO Schneider’s top deals
Nestle Chief Executive Mark Schneider has made great strides in positioning the world’s largest food company for the future with his aggressive deal-making since taking over in January 2017.
Mad cow fright keeps EU cautious on food rules
The specter of the 1990s BSE crisis means the European Union is likely to reject U.S. demands it ease strict food safety rules, even with President Donald Trump threatening car tariffs if EU countries do not start importing more U.S. farm products.
Airbus pledges profit gain after bribery settlement hit
Airbus pledged higher jet deliveries and operating profit this year, after an international bribery settlement and problems with the A400M transport plane plunged the aerospace group to a 1.36 billion euro ($1.48 billion) net loss for 2019.
Hong Kong banks compare pandemic stress test with epidemic reality
Last October, nearly four dozen banks in Hong Kong confronted a nightmare “stress test” scenario: a pandemic that swept through the city, followed by a major cyberattack and a telecoms breakdown.
Credit Suisse posts best profit since 2010 in Thiam swan song
Credit Suisse posted a 69% rise in annual net profit on Thursday in a bittersweet swan song for outgoing Chief Executive Tidjane Thiam.
Thyssenkrupp’s first-quarter profit drops as steel becomes new problem child
Thyssenkrupp posted a 77% drop in adjusted operating profit in the first quarter, blaming a weak automotive market while its steel division, part of the group’s core following a planned divestment of its elevator business, swung to a loss.
Airbus targets operating profit gain in 2020, after bribery settlement net loss
Airbus plunged to a 1.362 billion euro ($1.48 billion) net loss in 2019, weighed down by a multinational bribery settlement, but the European aerospace group pledged to increase operating profit and deliver 880 commercial jets this year.
