World Business News - Global Stocks and Finance

Danske quits Baltics and Russia as fallout from money-laundering grows

Danske Bank will close its operations across the Baltic states and in Russia after authorities in Estonia kicked out the Danish lender amid a deepening money-laundering scandal.

Continental shift: German Economy Minister Peter Altmaier (right) and his French counterpart Bruno Le Maire at a press conference in Berlin

Germany sees hardest part of trade talks ahead

THE most difficult part in trade negotiations between Europe and the US is starting now and talks should focus on reducing tariffs on industrial goods to increase the chances of a deal, said German Economy Minister Peter Altmaier.

Moments hesitation: Ex-Pandora boss back to haunt company with 'sell' note

PANDORA fell in Copenhagen trading after its former investor relations chief started covering the shares of the world's largest jewellery marker with a 'sell' recommendation.

Share save: Norwegian CEO Bjorn Kjos has faced takeover speculation as it bids to cut costs

Norwegian Air boss takes share hit in bid to raise fresh cash

Norwegian Air will sell new shares at just a third of the current market price when the loss-making airline seeks to raise money from investors the next few weeks, it said on Monday.

Under scrutiny: Firms including Vodafone have stalled deployment of Huawei tech until it is given security clearance

New Zealand to carry out Huawei threat assessment

New Zealand will independently assess the risk of using China's Huawei Technologies in 5G networks, Prime Minister Jacinda Ardern said yesterday after a report suggested that British precautions could be used by other nations.

France is reluctant to open up its agriculture sector to US imports
(AP Photo/Alex Brandon)

Germany sees 'most difficult part' in EU-US trade talks ahead

The most difficult part in trade negotiations between Europe and the United States is starting now and talks should focus on reducing tariffs on industrial goods to increase the chances of a deal, German Economy Minister Peter Altmaier said on Tuesday.

HSBC profit jumps to €17.5bn – but falls short of expectations

HSBC has reported a 15.9pc rise in pre-tax profit in 2018, coming in short of expectations following a challenging fourth quarter.

Germany bans investors' 'short' bets that fintech Wirecard stock will fall

Germany's financial regulator has taken the unprecedented step of temporarily banning short sales of Wirecard shares following reports of suspicious accounting practices, while prosecutors in Munich expanded their investigation to include a 'Financial Times' journalist.

Chief executive Rakesh Kapoor is to retire after 32 years at the company (Reckitt Benckiser/PA)

Durex-maker Reckitt on the rise again

Reckitt Benckiser CEO Rakesh Kapoor is steering the group back to health as he lays the groundwork for his departure after more than seven years at the helm.

Honda to close UK car plant in 2022 putting 3,500 jobs at risk - report

Japanese carmaker Honda is set to announce the closure of its Swindon car plant putting 3,500 jobs at risk, Sky News reported on Monday.

Consumer confidence in UK economy slips back to lowest level since January 2018

Consumers' confidence in the UK economy has slipped back to its lowest level since January 2018 - but people's...

John Lynch: 'Vinci's airport business would appeal to Leonardo'

If, amazingly, you have no interest in hearing more about Leonardo de Vinci, arguably the greatest artist, engineer and scientist of the last millennium, then plan to turn off your telly and...

Reckitt has reported full-year figures (PA)

No indigestion here: sales and profits up at Gaviscon maker

Gaviscon maker Reckitt Benckiser has reported rising full-year sales and profits, despite the group flagging "challenging market conditions".

Deutsche Bank breaks pledge to help US homeowners hit by mortgage crisis

Deutsche Bank has decided that none of the more than $4bn (€3.5bn) it promised to spend on consumer relief after the global mortgage crisis...

Flight plan: Norwegian Air's CEO and its chairman agreed to sell some of their subscription rights to a share issue at a discount, in a deal that will help the loss-making carrier raise cash

Norwegian CEO and chairman sell some share subscription rights at discount

Norwegian Air's chief executive and its board chairman agreed to sell some of their subscription rights to a share issue at a discount, in a deal...

Europe’s LNG influx plays into Gazprom’s hands this winter

Changing gas price dynamics caused by an influx of liquefied natural gas (LNG) to Europe have played into Russian producer Gazprom's hands and enabled it to increase pipeline flows to the continent so...

Failure to launch: Amazon’s John Schoettler, New York Governor Andrew Cuomo and Mayor Bill de Blasio during a news conference about the online retailer’s planned headquarters in November of last year

Leftist Democrats show power with Amazon coup

New York Governor Andrew Cuomo crushed his opponent in his re-election race inside the Democratic Party in November.

Supersized shutdown: Airbus to scrap A380 production as sales to airlines slump

Europe's Airbus is scrapping production of the A380 superjumbo, with lacklustre sales forcing it to abandon a dream of dominating the skies with a...

Premier Foods takes Ambrosia sale off the menu

Mr Kipling cake firm Premier Foods has scrapped plans to sell off its Ambrosia custard brand, blaming the current business climate.

Germany stalling: People sit at a cafe terrace as skyscrapers stand beyond on the city skyline in Frankfurt

Germany feels pinch as exports to China fall

GERMANY'S economy, the industrial powerhouse of the Eurozone, did not grow at all in the final quarter of last year after shrinking in the prior quarter.

Traders work on the floor of the New York Stock Exchange (NYSE)

Ireland taps bond market for €1.25bn as European shares slip from three-month highs

Ireland raised €1.25bn of bonds on the markets yesterday, split between €950m due in 2029 and €300m due in 2037.

Talks: US trade rep Robert Lighthizer has met Chinese counterparts

Very little progress in latest US-China trade talks

THE US and China have made little progress so far during trade talks in Beijing, leaving much work to be done before President Donald Trump and his counterpart Xi Jinping look to seal a deal at a...

EU Competition Commissioner Margrethe Vestager Photo: Reuters

EU crackdown dealt possible blow as ruling against Belgian tax break for global giants thrown out

EU judges dealt a possible blow to an EU crackdown against tax avoidance by global multinationals on Thursday by annulling an order by the EU...

Eurozone bond yields steady as Germany narrowly escapes recession

Euro zone government bond yields were mostly steady on Thursday, with data showing Germany just escaped recession in the final quarter of 2018 preventing a further drop in borrowing costs.

EU crackdown dealt possible blow as ruling against Belgian tax break for global giants thrown out

EU judges dealt a possible blow to an EU crackdown against tax avoidance by global multinationals on Thursday by annulling an order by the EU...

Patisserie Valerie saved by Irish private equity firm

Troubled bakery chain Patisserie Valerie has been bought by Causeway Capital Partners, an Irish private equity firm.

Scandal: Nissan’s former chairman Carlos Ghosn was arrested last year

Ex-Nissan boss Ghosn’s chief defence lawyer resigns; no reason given

Ex-Nissan chairman Carlos Ghosn's chief defence lawyer, Motonari Otsuru, has resigned, his law office said Wednesday, a stunning twist to the nearly three-month case over alleged financial...

Airbus to scrap A380 superjumbo production as sales slump

Europe's Airbus is scrapping production of the A380 superjumbo, with lacklustre sales forcing it to abandon a dream of dominating the skies with a 21st century cruiseliner.

EU reaches deal on rules to govern Russia’s Nord Stream 2 pipeline

The European Union reached a provisional deal on Wednesday on new rules governing import gas pipelines including Russia's planned Nord Stream 2, in a move that cast doubts over the project's...

House price growth in UK at slowest annual rate in more than five years

House prices in the UK increased at their slowest annual rate in more than five years in December, according to official figures.

Nissan to take €74m charge linked to Ghosn exit

NISSAN has warned its annual profit will touch six-year lows on waning global sales, underlining the challenges it faces as it also grapples with the fallout from the shocking arrest and ousting of...

Heineken toasts 2019 after beer sales rise in all regions

Heineken, the world's second-largest brewer, said higher beer sales and consumers trading up to more expensive drinks will boost earnings in 2019 after reporting growth in every region last year,...

New Look has notched up £78m in annual cost savings under a radical overhaul

New Look swings to profit under radical overhaul

Fashion retailer New Look has said its turnaround is bearing fruit as it swung to a year-to-date profit and cheered a recent improvement in sales.

Santander feels the heat from bondholders after rolling-over bail-in bonds

Banco Santander reminded investors that juicy bonds can come with nasty surprises.

Difficult times: Shoppers walk past the Debenhams department store on Oxford Street in London. Photo: Reuters

Troubled Debenhams gets £40m lifeline from lenders

Debenhams secured a lifeline from some of its lenders, giving the troubled UK department-store chain £40m (€45m) in liquidity as it attempts a broader refinancing.

Sanctions: An oil tanker is seen at Jose refinery cargo terminal in Venezuela. Photo: REUTERS/Jorge Silva

Russian bank denies new Venezuelan oil accounts

Russia's Gazprombank said yesterday that Venezuela's state-run oil company PDVSA had opened accounts with the bank several years ago and has not opened any new accounts recently.

Drinks giant Diageo has submitted plans for a new Johnnie Walker visitor centre (Diageo/PA)

Diageo submits plans for new seven-storey whisky visitor centre in the heart of Edinburgh

Drinks giant Diageo has submitted plans for a new seven-storey whisky visitor centre in the heart of Edinburgh.

VW is a cultural phenomenon as well as being an industrial giant. Photo: PA

Diesel scandal, China and US put the brakes on Volkswagen

Buying a car is not what it used to be. There was a time when investment in a new motor or a used one without excessive mileage was one of the two big investment decisions in the life of most...

Rock of Aphrodite or Petra tou Ramiou in Cyprus

Losses more than double at holiday giant Tui

Holiday giant Tui has reported losses of €83.6m in the three months to 31 December 2018.

US Treasury Secretary Steven Mnuchin. Photo: REUTERS/Jim Young

Week ahead: Week 7

US Treasury Secretary Steven Mnuchin heads to Beijing this week with a view to reopening US/China trade talks, while in London the parliament votes on possible alternatives to Theresa May's defeated Brexit deal on Thursday.

China’s President Xi Jinping. Photo: Reuters

China upbeat on US trade talks, but South China Sea tensions weigh

China struck an upbeat note on Monday as trade talks resumed with the United States, but also expressed anger at a US Navy mission through the disputed South China Sea, casting a shadow over...

Spain's PM Pedro Sanchez. Photo: REUTERS/Susana Vera

Concern wage hike in Spain may 'destroy' 125,000 jobs

Spain is embarking on a major economic experiment - a 22pc jump in the minimum wage that's ignited a high-stakes debate about how it will affect the economy.

Hopeful: White House senior counsellor Kellyanne Conway

China upbeat on prospects of new US trade deal

China struck an upbeat note yesterday as trade talks resumed with the United States, but also expressed anger at a US Navy mission through the disputed South China Sea, casting a shadow over...

Airbnb: France is the site’s second biggest market

City of Paris to sue Airbnb for €12.5m over 1,000 illegal rental ads on site

The city of Paris is suing Airbnb for publishing 1,000 illegal rental adverts, which could cost the American website more than €12.5m, the mayor...

Powering up: An artist’s impression of a VW charger of the future which will consist of a 360 kw-hour battery that can serve enough electricity for as many as 15 EVs, in about 17 minutes for each one

Volkswagen reckons it'll be sucking diesel with next-generation chargers

Electric Vehicle (EV) charging stations will have to become a lot better at what they do, and a lot more common, if the boom in electric vehicles is to happen, according to BloombergNEF's latest...

Tata posts record $4bn loss on Jaguar woes, shares crash

Jaguar Land Rover's owner Tata Motors stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4bn on slumping China sales, sending its shares crashing as much...

Flight plan: Norwegian CEO Bjorn Kos said reducing costs and returning to profit is its priority

Norwegian shares fall on revised growth plan

Shares in Norwegian Air fell by more than 11pc in afternoon trading in Oslo yesterday, after the group cut its capacity growth forecast for this year to 9pc.

Renault finds evidence it paid part of Carlos Ghosn's wedding

Renault has found evidence that it paid part of Carlos Ghosn's wedding costs and is preparing to turn the investigation over to prosecutors, two weeks after the French carmaker's scandal-hit...

'You can work for two hours? When can you start?' - Hungary firms desperate for staff

Zsuzsanna Czeizel told herself she'd never work again after she retired in 2012. But since October, she's held a job -- scanning boxes of sweets in a...