Page 2238 - Business Finance

UAE's ADNOC starts producing new Umm Lulu crude oil stream

DUBAI/SINGAPORE (Reuters) - Abu Dhabi National Oil Company (ADNOC) started producing and exporting a new crude grade known as Umm Lulu this month, a company spokesman said on Wednesday.

Volkswagen to offer buyer incentive for scrapping older German diesels

BERLIN (Reuters) - Volkswagen on Thursday said it will offer trade-in incentives and a bonus for scrapping older diesel vehicles in Germany, in a move to stave off driving bans in polluted cities.

Oil steadies amid Saudi tensions after plunge on jump in U.S. stockpiles

TOKYO (Reuters) - Oil steadied on Thursday as support from ongoing tensions over the disappearance of a prominent Saudi journalist offset a big drop overnight due to a jump in U.S. crude stockpiles.

Rank revenue hit by fall in bingo traffic, casino bets

(Reuters) - Britain's Rank Group reported a 4.9 percent year-on-year decline in comparable group revenue for the 16 weeks to mid-October, hit by a drop in sales and traffic at its casinos and bingo halls.

Takeda gets Japan's approval for $62 billion Shire purchase

(Reuters) - Takeda Pharmaceutical Co Ltd said on Thursday Japan's Fair Trade Commission had approved its $62 billion acquisition of Shire Plc, bringing the Japanese firm closer to sealing a deal that will make it a global top 10 drugmaker.

JP Morgan Asset Management names new Asia Pacific chief

HONG KONG (Reuters) - JP Morgan Asset Management (JPMAM), the asset management arm of JP Morgan Chase & Co, has appointed Dan Watkins as Asia Pacific chief executive, the company said on Thursday.

Domino's Pizza UK cuts FY outlook, launches new buyback

(Reuters) - Domino's Pizza Inc's UK franchise Domino's Pizza Group trimmed its full year forecast for pretax profit in line with market expectations on Thursday while announcing a new 25 million pounds ($32.70 million) share buyback plan.

SAP raises guidance as cloud transformation gathers pace

FRANKFURT (Reuters) - German software company SAP reported a 41 percent jump in cloud revenues in the third quarter as its business transformation gathers pace, enabling management to raise guidance for revenues and profits this year.

Exclusive: Mexico cenbank chief concerned higher energy prices could fan inflation

MEXICO CITY (Reuters) - Mexico's central bank chief Alejandro Diaz de Leon said on Wednesday that he is concerned that energy prices could rise in coming months, making it harder to bring inflation down toward the 3 percent target.

Mexico cenbank chief concerned higher energy prices could fan inflation

MEXICO CITY (Reuters) - Mexico's central bank chief Alejandro Diaz de Leon said on Wednesday that he is concerned that energy prices could rise in coming months, making it harder to bring inflation down toward the 3 percent target.

TSMC Q3 profit slips 0.9 percent amid trade war uncertainty

TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker, reported a 0.9 percent fall in third-quarter net profit, amid worries over trade tensions that could undermine global technology demand.

Unilever third-quarter sales growth picks up with pricing

LONDON (Reuters) - Unilever reported a pick-up in third-quarter sales on Thursday, as higher prices helped blunt commodity cost increases.

Insight: Tax byte - Africans fear trend towards levies on data, services

KAMPALA/JOHANNESBURG (Reuters) - The brisk business Julius Kirya did from his cash transfer kiosk in the Ugandan capital has slowed right down with a new tax on mobile money. Many of his customers have returned to sending banknotes by hand, in some cases via motorbike taxi.

Global IT spending to grow 3.2% in 2019: Gartner

Driven by increased Cloud adoption, worldwide IT spending is projected to total $3.8 trillion in 2019, an increase of 3.2 per cent from expected spending of $3.7 trillion in 2018, according to the latest forecast by market research firm Gartner.

China blacklists former AC Milan owner over unpaid debt

The former Chinese owner of AC Milan has been added to China's blacklist of untrustworthy individuals over millions of dollars in unpaid debt, according to a local court, which ordered that his passport be confiscated. Li Yonghong emerged from obscurity to purchase one of Europe's most high-profile and decorated football clubs from former Italian prime minister Silvio Berlusconi in 2017. He was one of dozens of wealthy Chinese investing in or simply buying up some of the sport's biggest clubs after President Xi Jinping declared he wanted to turn China into a football superpower. But Li's control of AC Milan was plagued from the start and this summer a creditor took over the club. The order from the Jingmen City Intermediate People's Court in central China this autumn, made public in October, is the latest indication of Li's declining fortunes. Li was on the hook for 60 million yuan ($8.7 million) in unpaid debt to a Hubei province investment company, and a 12 million yuan ($1.7 ...

Pernod Ricard cautions of slower growth after stellar first-quarter

PARIS (Reuters) - Spirits group Pernod Ricard posted a stronger-than-expected 10.4 percent rise in first-quarter underlying sales, helped by higher demand in China and India and despite slower growth in its main market in the United States.

Novartis raises 2018 sales outlook as Entresto, Cosentyx accelerate

ZURICH (Reuters) - Swiss drugmaker Novartis raised its full-year sales outlook, citing growing revenue from its Cosentyx psoriasis and arthritis drug as well as the performance of its heart failure medicine Entresto, whose third-quarter sales more than doubled.

TSMC Q3 profit down 0.9 percent, in line with market forecasts

TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker, said on Thursday third-quarter net profit fell 0.9 percent.

Robot market growth slows as trade war hits industrial spending-robot industry chief

TOKYO (Reuters) - An escalating trade war between the United States and China has dampened manufacturers' appetite for investment in equipment, causing growth in the industrial robot market to slow, the chief of the global robot industry group said.

Global Markets: Asia stocks falter as China knocked by renewed trade war fears

TOKYO (Reuters) - China's benchmark stock index skidded to four-year lows and dragged Asian equities down on Thursday, as renewed fears of a broadening economic impact from an escalating Sino-U.S. trade conflict sapped confidence.