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Stellantis revenue plunges as falling EU and US sales hit car giant

Europe's second-largest car maker, Stellantis, reported that its net revenues slumped by 27% in its latest earnings update as it aims to slim down its inventory and launch new products.

31 October 2024

Business

BNP Paribas records boost in net income on strong corporate banking

French banking giant BNP Paribas has announced its third quarter 2024 earnings, posting a higher net income as its corporate and institutional banking department continues to experience robust performance.

31 October 2024

Business

Swiss banking giant UBS beats forecasts with leap in profits

High profit and progress on the integrations of collapsed competitor Credit Suisse were the key takeaways of the bank’s quarterly report.

30 October 2024

Business

Robust retail business gives boost to Banco Santander

Banco Santander's revenue increases, as the bank’s retail, wealth, consumer and payments branches all record strong growth.

29 October 2024

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Business

Pharma giant Novartis raises forecast on strong drugs demand

The Swiss company reported a strong performance and a major boost in sales of its products.

29 October 2024

Business

Lufthansa Group reports stronger earnings after healthy summer travel

Lufthansa Group has announced an increase in revenue for the past quarter, boosted by robust summer travel demand. However, cost surges and delays in aircraft deliveries continued to affect the group.

29 October 2024

Business

Mercedes profit driven down as demand slows in Chinese market

The German automaker is pledging to cut costs through 'efficiency increases' after weak Chinese demand hits profits.

25 October 2024

Business

Deutsche Bank ordered to pay out over Postbank takeover

The higher court in Cologne has ordered Deutsche Bank to pay further compensation to Postbank investors who claimed that the bank underpaid them when it took over the German retail bank in 2010.

23 October 2024

Business

Volvo's earnings slip as freight and construction activity slows

The Swedish manufacturer saw a drop in vehicle sales and is predicting little growth for 2025.

18 October 2024

Business

Nike holds off guidance and investor day to allow CEO to find his feet

Nike is holding off giving guidance and has postponed investor day as it tries to give incoming CEO Elliott Hill a chance to review current strategies and plan future ones.

Business

Italy's Stellantis becomes latest car giant to issue profit warning

The struggling maker of Jeep and Ram is looking for a new CEO to succeed Carlos Taveres, who is under fire from US dealers and the United Auto Workers union after a dismal first-half financial performance.

30 September 2024

Europe News

Paris Olympics: Will the Games boost the French economy?

With the Paris Olympic and Paralympic Games now concluded, France is left with a bill exceeding €8 billion for hosting the world’s biggest sporting event. The question remains: will the Games stimulate the French economy, or will the expenses outweigh the potential gains?

12 September 2024

Business

Jewellery maker Pandora raises full-year growth guidance

The company recently opened its first flagship store in Copenhagen, and also launched its first lab-grown diamonds in Denmark.

Business

Thyssenkrupp warns of slowing growth in green hydrogen sector

The group also revealed the tax credits it is relying upon to subsidise the clean hydrogen market in the US could potentially be delayed until after November election.

Business

Disney to invest $5bn in films and TV shows in the UK and Europe

The company’s streaming business, which includes Disney+, ESPN+ and Hulu also recorded its first ever profit in the third quarter of the financial year 2024.

Business

Siemens beats profit estimates on strong demand for electrification

The German tech giant reported a profit that was 11% higher than that recorded in the same period last year.

Business

Bayer reaps benefits of demand for new cancer and kidney medicines

German pharmaceutical giant Bayer AG released its second quarter and half year 2024 earnings on Tuesday morning, with the company seeing an average performance in the second quarter, due to the agricultural market environment becoming tougher.

Business

British Airways' owner puts brakes on Air Europa takeover bid

IAG had offered a series of concessions to the EU regulators, including giving up take-off and landing slots to competitors but the regulators still saw the bid as potentially anti-competitive.

Business

Intel unveils plans to axe 15% of workforce in cost saving initiative

The company also issued a revenue warning for the third quarter of the year, revealing that it was planning to focus more on artificial intelligence semiconductors, instead of traditional data centre ones in the coming months.

Business

Turbulence set to continue at Lufthansa over the next few months

The airline has launched a turnaround programme that will focus on raising revenue, improving productivity and enhancing customer experience.