World Business News - Global Stocks and Finance

Vincent Bollore, Chairman of the Supervisory Board of media group Vivendi. Photo: Reuters

French billionaire arrested in bribes probe

French billionaire Vincent Bollore was being held for questioning by French judicial police Tuesday as part of an investigation into possible bribes of public officials in two African countries.

First Citizen’s Chris Hanlon and Mark Stynes, TWM director Sean O’Neill and Ronan Lyons, assistant professor of economics at Trinity College Dublin at a CRE breakfast briefing

US hedge fund injects another €30m into First Citizen

US hedge fund Magnetar Capital has pumped a further €30m into alternative lender First Citizen as the firm ramps up lending across its motor finance and commercial real estate platforms.

Half of organisations want regulation to boost gender diversity

Irish executives think more regulation is needed to force greater gender balance at the higher levels of businesses.

Whitbread to split Costa Coffee from group following activist pressure

Whitbread has bowed to pressure from an activist investor and announced that it will spin off Costa Coffee into a separately listed business.

US hedge fund injects another €30m into First Citizen

Potsdamer Platz, the financial district of Berlin in Germany – business confidence in the country fell for a fifth consecutive month in April to reach the lowest level in more than a year

Signs euro area growth has already peaked

Business morale in Germany, France and Italy - the eurozone's three biggest economies - deteriorated in April as a stronger currency and capacity constraints limited output, signalling that growth in the currency bloc has reached its peak.

Trump talks up trade progress

US President Donald Trump has said the United States is likely to reach a trade agreement with China and that officials from both sides will sit down for negotiations in a few days.

Traders work on the floor at the New York Stock Exchange (NYSE) in Manhattan

Paddy Power slumps on regulatory fears

Paddy Power Betfair was the big mover on the Irish stock exchange yesterday, down 3.77pc on concerns the British government will cap betting on so called fixed odds betting terminals (FOBT) at £2 a turn.

Group revenue rose to €18.18bn, the maker of Peugeot and Citroen cars said on Tuesday, as vehicle deliveries advanced 44pc.

Peugeot owner’s sales jump on Opel-Vauxhall acquisition

French automaker PSA Group posted a 42pc increase in first-quarter revenue, lifted by its acquisition of Opel-Vauxhall.

Opel Ireland to renew all of its franchise deals despite cuts

Carney keeps sterling traders guessing on rise

Money-market traders in the UK may have capitulated, but not the analysts.

Outsourcing giant Capita to raise £701m as CEO dismisses Carillion comparison

Outsourcing giant Capita is to tap investors for £701m (€799m) and embark on a new strategy...

Mammoth 12MW wind turbines to be trialled. Stock Image

General Electric to trial world's largest wind turbines off coast of England

General Electric has decided to test the world’s largest offshore wind turbines at a test facility in England in a major vote of confidence for the UK’s burgeoning wind power industry.

Italy is keen to find a buyer for troubled Alitalia, which has around 12,000 staff, that won’t result in large cuts to the current headcount at the airline – Lufthansa’s bid was for only half the workforce

EU probes state aid in Alitalia rescue

The European Commission has launched an in-depth investigation to assess whether an Italian government rescue loan to Alitalia constituted state aid. The bankrupt airline has used the loan to stay open while it seeks a buyer.

World Bank President Jim Yong Kim speaks at a news conference ahead of the spring meeting of the IMF and World Bank in Washington, U.S. REUTERS/Aaron P. Bernstein

World Bank seals $13bn cash boost

The World Bank won support from its member countries for a $13bn (€10.6bn) capital increase, with the US dropping its objection as the lender imposes measures that would potentially reduce loans to China.

Share watch: Brexit problems could clip the wings of Airbus

If someone really wants to be amazed by the dramatic developments that have changed the world in the last century, it is only necessary to look upwards.

Greece looking for 'clean exit' as PM promises no return to 'the spendthrift days'

Greece will exit its bailout programme without requesting a precautionary credit line, Prime Minister Alexis Tsipras said on Monday.

UBS shares fell 3.8pc, despite reporting first-quarter earnings ahead of analysts' estimates

European shares falter as UBS bank disappoints

European shares fell on Monday as results from Switzerland's biggest bank, UBS, disappointed investors, and a rise in US Treasury yields put pressure on bond-proxy sectors.

Rich Americans bet their fortune on living to 100

Money might not buy love, but it can buy better health. And to live as long as possible, the world's wealthy are willing to pay up.

Australia, one of the world's biggest shippers of liquefied natural gas and coal, has struggled in recent years with fuel and power supplies as the nation tries to balance environmental concerns and domestic needs against revenue and jobs from energy exports (stock picture)

Falcon expects serious drilling in 12 months as Australia fracking ban lifted

Falcon Oil & Gas expects serious drilling activity to begin in 12 months' time at its major prospect, where a government ban on fracking has been...

Deutsche Bank sent €28bn to the wrong account

Deutsche Bank inadvertently transferred €28bn to the wrong account.

Shares of shoe and apparel retailer Skechers plunged as much as 28pc last Friday - the most since 2015 - after the company forecast sales for the coming quarter that missed projections (stock picture)

Skechers shares hit as shoemaker struggles to keep pace with demand

Merchandise from Skechers is selling fast - maybe too fast. Investors are sceptical the company can keep pace with demand and simultaneously keep costs under control.

Google, Twitter face congress grilling

The chief executives of Google and Twitter may be next to follow Mark Zuckerberg into a gauntlet of congressional hearings.

Traders work on the floor of the New York Stock Exchange. Photo: Reuters

Irish Life lines up deal to buy financial consultants Invesco

Irish Life is set to acquire a strategic shareholding in Invesco, the largest Irish-owned independent financial consultancy.

New German Finance Minister Olaf Scholz. Photo: AP

Germany cautious on banking union

German Finance Minister Olaf Scholz on Thursday effectively rejected calls for the swift introduction of a EU-wide bank deposit guarantee system as part of a banking union, saying that step could only follow a reduction in banks' exposure to risk.

The unexpected drop in inflation should boost real-term wage growth for UK workers (file photo: PA)

UK rate rise less likely after surprise inflation fall

Inflation in the United Kingdom unexpectedly cooled to a one-year low in March, according to figures that raise some doubts over bets the Bank of England will raise interest rates in May.

Danone reports 'strong' performance in China

Shares in food group Danone rose by over 2pc yesterday in Paris to €67.40 after the company reported sales of €6bn in the first quarter of 2018, a 10.8pc increase year-on-year on a reported basis.

Headache for Nurofen owner Reckitt Benckiser as poor sales disappoint analysts

Durex owner Reckitt Benckiser disappointed City analysts with its sales performance in the first quarter, sending its shares down 6pc in morning...

Barclays Bank boss facing fine over whistleblower debacle

Barclays boss Jes Staley is facing a fine after regulators found he had allegedly breached conduct rules by attempting to identify a whistleblower in 2016.

Kirsten Dunlop, CEO Climate KIC.
Picture: Arthur Carron

Warning we must step up fight against climate change

Tackling 'vested interests' and undertaking a complete societal transformation is needed to combat the ravages of climate change and put the world on track for a low-carbon future.

'S&P 500 companies are expected to post an 18.6pc rise in profits in the first quarter, the biggest increase in seven years, according to Thomson Reuters data.' Stock photo: Reuters

Earnings lift global stocks as geo-political fears ease

The US benchmark S&P 500 index posted slight gains on Wednesday, helped by gains from industrial and energy stocks, but IBM's disappointing results and a sell-off in semiconductor stocks weighed on the...

Mobile payments drive ecommerce explosion in China's economy

While there may be fears of a global trade war between the US and China, with tariffs on goods being imposed by both sides in the dispute, the latter is continuing to develop its share of the...

Like-for-like sales at Primark – the trading name for Penneys outside of Ireland – declined by 1.5pc during the period

'Unseasonably warm weather' impacts on Primark sales

Like-for-like sales at Primark – the trading name for Penneys outside of Ireland – declined by 1.5pc in the six months to 3 March, with sales impacted by "unseasonable warm" weather in October, the...

Sectors most affected include manufacturing, construction, security services, education, childcare and geriatric care. Stock image: PA

German firms hit by staff shortfall

German companies are struggling to find skilled workers to increase production and the shortage of manpower is costing the economy up to 0.9 percentage points of output a year, the IW German Economic Institute has said.

'Very strong' infant formula performance in China drive Danone sales

French food production group Danone has reported sales of €6bn in the first quarter of 2018, a 10.8pc increase year-on-year, according to results from...

Traders work on the floor of the New York Stock Exchange

Markets bounce on easing Syria tensions

Wall Street rose while oil and government bond prices fell on Monday on the view that this weekend's US-led missile strikes on Syria were unlikely to mark the start of a broader conflict.

Asia stocks waver after data shows both hot and cold patches in the Chinese economy

Asia stocks wavered on Tuesday after data showed both hot and cold patches in the Chinese economy, but losses were limited as investors turned their...

Businessman Peter Conlon. Photo: Fergal Phillips.

Swiss lawyers hired to find Conlon over €3.8m collapse debt

Swiss lawyers have been hired to chase down missing businessman Peter Conlon, whose Ammado fundraising platform collapsed owing €3.8m to charities, the Irish Independent understands.

Martin Sorrell. Photo: Justin Tallis/AFP/Getty Images

Self-made ad mogul Sorrell forced to step aside

Martin Sorrell's sudden exit from WPP marks a shocking end to the career of a chief executive who, through sheer force of personality, made it the world's biggest advertising firm.

French President Emmanuel Macron and German Chancellor Angela Merkel. Photo: PA

Macron and Merkel set for Trump talks

A busy data week kicks off with today's Ulster Bank Construction Purchasing Managers' Index for March.

JD Wetherspoon closes down all social media accounts following trolling

JD Wetherspoon is closing down its Twitter, Instagram and Facebook accounts for all its 900 pubs and head office with immediate effect...

Forecourts faced with a rise in driverless traffic and battery-charged ecars will need to find new ways to reach customers, says Jacob Schram

Fuel retailers in race to future-proof forecourts

"More change will happen in forecourt retailing in the next 10 years than has happened in the history of the sector so far."

'Marijuana stocks surged on the news, which removed the threat posed by Sessions's decision in January to rescind an Obama-era policy that helped states legalise recreational pot.' (stock photo)

Marijuana stock boost after Trump backs state regulation

US President Donald Trump has endorsed letting states decide how to regulate marijuana, in a major boost for the legal pot industry.

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York

'Geo-political jitters' are priced in as oil markets rally

A gauge of stocks across the world fell on Friday but was still on track to end the week with its strongest performance in five weeks, while crude oil added to recent gains that drove it to highs...

London Stock Exchange appoints new chief executive

David Schwimmer, a former Goldman Sachs stalwart, has been appointed as chief executive of the London Stock Exchange.

Radical Volkswagen shake-up leaves unions reeling

Powerful labour unions at Volkswagen are concerned by a sudden rush by the German carmaker's board to approve sweeping changes, sources said, while 'Handelsblatt' newspaper...

International Monetary Fund chief Christine Lagarde warned against protectionist policies and talk of trade war in a speech to the Asia Global Institute at the University of Hong Kong. Photo: Isaac Lawrence/AFP-Getty Images

Lagarde warns WTO rules risk being 'torn apart' in trade war

International Monetary Fund (IMF) chief Christine Lagarde s has said countries need to be sensible about talk of a trade war, as a conflict between the United States and China creates uncertainty...