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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.

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.

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.

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.

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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.

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?

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.

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.

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

French pharma giant Sanofi ups profit forecast as Dupixent sales soar

The French pharmaceutical firm announces double-digit sales growth in the second quarter thanks to Dupixent and new products.

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.