International Companies
AkzoNobel to cut 2,000 jobs in cost-saving plan
Dutch paints and coatings giant AkzoNobel has unveiled a simplification plan that will see it eliminate around 2,000 jobs worldwide, as it looks to reduce costs and drive efficiencies across the organisation.
Tui reaffirms full-year earnings guidance
Travel firm TUI reaffirmed its full-year earnings guidance on Tuesday, hailing a "promising" start to Winter 2024/25 as consumers continue to prioritise spending on leisure experiences.
BNP Paribas to buy HSBC’s private banking business in Germany
BNP Paribas said on Monday that it has agreed to buy HSBC’s private banking activities in Germany, as it looks to position its wealth management arm "among the top leading players in Germany" and bring its assets under management to more than €40bn.
German government to retain stake in Commerzbank
Shares in Commerzbank AG traded lower early on Monday after the German government announced that it would hold on to its 12% stake in the European banking giant, likely halting its proposed merger with Italian lender UniCredit.
Apollo to offer up to $5bn investment in Intel - report
Apollo Global Management has reportedly offered to make a multibillion-dollar investment in Intel in a move that would be a vote of confidence in the chipmaker’s turnaround strategy.
Nike shares jump as CEO John Donahoe steps down
Nike's share price was set to surge on Friday morning after the news that boss John Donahoe is to step down next month amid the sports apparel giant's struggles to regain momentum in key markets.
Mercedes-Benz shares drop as China weakness prompts profit warning
Shares in Mercedes-Benz Group tanked on Friday after the German auto giant scaled back its full-year guidance due to ongoing struggles in the Chinese market.
Axel Springer to split classifieds business from media assets
Politico owner Axel Springer said on Thursday that it had struck a deal with its largest shareholder KKR to split its classifieds business from its media assets.
EU competition regulator launches compliance proceedings with Apple
European Union competition authorities started proceedings against Apple on Thursday, in a bid to enforce compliance with regulations that mandate the company to open its proprietary ecosystem to competitors.
EU court rules in UK's favour over alleged illegal tax breaks
The European Union has overturned a court ruling against the UK relating to alleged tax breaks for multinational companies, it was confirmed on Thursday.
Meyer Burger to slash workforce, shares fall
Shares in Meyer Burger fell sharply on Wednesday after the solar panel manufacturer announced plans to axe around a fifth of its workforce and shake up management, including replacing its chief executive.
General Mills underwhelms with Q1 results as profits fall
Shares in General Mills were falling in pre-market trade on Wednesday despite the American processed foods giant reiterating its full-year targets, as the company reported a decline in sales and profits in its first quarter.
EU overturns €1.5bn antitrust fine for Google
The European Union has overturned a five-year-old €1. 5bn antitrust fine for Google after a challenge from the American tech giant, the region's second-highest court announced on Wednesday.
Campari head steps down after less than six months in charge
The chief executive of Italy’s Davide Campari-Milano has resigned, it was announced on Wednesday, less than six months after he took up the role.
Microsoft announces $60bn buyback, hikes dividend
Microsoft announced the launch of a share buyback of up to $60bn late on Monday, as it hiked its quarterly dividend.
Bausch & Lomb shares jump on spin-off sale hopes
Shares in Bausch & Lomb surged on Monday amid speculation that the North American contact lens and eye care products supplier is exploring a potential sale.
Daily Mail, Sun cut US editorial jobs
Two of Britain's largest newspaper publishers, News UK and DMGT, are implementing significant job cuts in their US digital operations, it emerged on Friday.
PwC China fined over Evergrande auditing failures
PwC China has been fined nearly £50m for auditing failures relating to collapsed property developer Evergrande Group, it was announced on Friday.
Qatar sovereign wealth fund wants to raise stake in Iberdrola past 10%
Qatar's sovereign wealth fund has told authorities in Madrid that it wishes to raise its stake in Iberdrola past 10%.
Boeing workers down tools in pay dispute
Workers at Boeing have gone on strike, it was confirmed on Friday, after voting overwhelmingly to reject a tentative 25% pay rise.