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Indrabati Lahiri

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

CrowdStrike strikes back at Delta Air Lines over flight disruptions

Last month's global IT outage on 19 July affected a number of airlines including Ryanair, Vueling Airlines, Singapore Airlines and Virgin Australia.

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

Samsung looks to find a good fit as it enters the smart ring market

Samsung is entering the smart ring market with a product of its own: the Galaxy Ring. It is competing with established players such as Oura but hopes the offer of a no subscription fee deal will give it an edge.

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Business

Flooding in Switzerland hits Jaguar Land Rover production

Other major car makers including Porsche and BMW have also been affected by an aluminium shortage caused by the flooding of a supplier's factory.

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

Valencia joins Barcelona with licensing plans to halt over-tourism

Other southern European tourist destinations protesting at too many tourists and too expensive local rentals include Lisbon, Venice and Barcelona.

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.

Economy

Spain inflation falls to five-month low in July as energy prices drop

A drop in food prices contributed to the fall with items such as butter, milk, pasta, flour and chicken all becoming cheaper.

Business

Roche plans speedy weight-loss drug launch to catch up with rivals

Roche believes its anti-obesity drugs could have advantages over other more established rivals such as Eli Lilly and Novo Nordisk through ease of scalability that will allow it to meet increased demand.

Business

Heineken beer sales fall flat on poor weather and lower sales in China

The rainy conditions during the Euros football championship made for disappointing sales at a time when beer and general alcohol sales would be expected to show a rise.

Economy

How the World Bank is helping Bosnia and Herzegovina's economy

Bosnia and Herzegovina has achieved International Development Association (IDA) donor status in 2023, along with Armenia and Georgia, after three decades of being in need of funding itself.

Business

Italian energy giant Eni reveals oil and gas expansion plans

The company says it is continuing to expand its oil and gas projects in the Republic of Congo and Ivory Coast.

Business

Stellantis profit plunges as automakers face industry challenges

French-Italian-American automotive giant Stellantis released its first half 2024 earnings on Thursday, reporting a net profit of €5.6bn, which was 48% less than the first half of 2023. Net revenue for the first half of the year was €85bn, which was 14% less than the corresponding period last year.

Business

TotalEnergies profit declines on reduced demand for refined products

TotalEnergies also announced a tie-up with a German renewable energy company RWE for OranjeWind, an offshore wind farm in the Netherlands.

Business

L’Occitane delists from Hong Kong exchange as luxury goods shine dulls

L'Occitane's attempts to revitalise growth have led to high operational costs, leading to further erosion of its share price and investor confidence.

Business

Mixed results for Europe's banks and their first half-year earnings

Deutsche Bank's profits were seen as moderate in the first half of 2024 but other major banks including BNP Paribas and Santander posted better-than-expected results.

Economy

Hungary cuts key interest rates and vows careful and patient approach

Hungary's interest rate cut comes after the European Central Bank (ECB) chose to leave interest rates unchanged last week at its July meeting.

Business

Air Antilles takes off again in relaunch following 2023 liquidation

Air Antilles is being relaunched under a new partnership between the French engineering company EDEIS group and the Collectivité de Saint-Martin.

Business

French defence company Thales sees orders soar to record levels

Thales and Airbus could also be considering merging their space divisions in order to create a stronger and more competitive pan-European business.

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