Business News

AbbVie raises profit forecast, but Humira concerns weigh on shares

(Reuters) - AbbVie Inc’s better-than-expected quarterly profit and revenue and raised full-year earnings forecast failed to impress investors who focused on the uncertainty around its blockbuster drug Humira as it struggles against cheaper rivals. The company’s shares fell as much as 2.2 percent to $76.91. “The results or guidance raise do not fundamentally change the story, in our view, as concerns around Humi...

25 Apr 4:19 PM 0 Read More...

In bail reprise, Ghosn leaves Tokyo jail, agrees to limit contact with wife

TOKYO (Reuters) - Former Nissan Chairman Carlos Ghosn walked out of a Japanese jail for a second time late on Thursday, freed on $4.5 million bail after agreeing to curbs on contacting his wife as he awaits trial on financial misconduct charges. After a Tokyo court rejected an appeal by prosecutors against his release, Ghosn left the Tokyo detention center around 10:22 p.m. (1322 GMT), dressed in a dark suit and whit...

25 Apr 4:19 PM 0 Read More...

Ghosn decries bail conditions limiting contact with his wife

TOKYO (Reuters) - Former Nissan Chairman Carlos Ghosn, who was released on bail from a Tokyo jail on Thursday, said he was grateful bail had been granted but denounced conditions limiting contact with his wife. The Tokyo District Court has stipulated that Ghosn cannot meet or otherwise communicate with his wife Carole without prior permission, according to his defense lawyer. “Restricting communications and contact...

25 Apr 4:19 PM 0 Read More...

Google exempt from back taxes in France, appeals court confirms

PARIS (Reuters) - Google will not have to pay 1.1 billion euros ($1.22 billion) in back taxes demanded by French authorities, an appeals court in France ruled on Thursday, dashing the government’s bid to overturn a 2017 decision. The latest ruling comes at a time France is trying to crack down on digital service giants and the tax they pay, with the planned introduction of a French levy and as it pushes for broader...

25 Apr 4:19 PM 0 Read More...

German bank merger crumbles as Deutsche Bank tie-up talks with Commerzbank end

FRANKFURT (Reuters) - Deutsche Bank and Commerzbank abandoned their merger talks on Thursday, with the risks of doing a deal, restructuring costs and capital demands dashing efforts to forge a German mega-bank. After nearly six weeks of talks, Germany’s two largest banks announced that their high-level negotiations about a tie-up had ended, confirming an earlier Reuters report and raising questions about the future...

25 Apr 11:19 AM 0 Read More...

China seeks to allay fears over Belt and Road debt risks

BEIJING (Reuters) - China aims to make the Belt and Road initiative sustainable and prevent debt risks, its finance minister said on Thursday, seeking to allay criticism that the infrastructure plan to boost trade and investment creates a heavy burden for some nations. The policy championed by Chinese President Xi Jinping has become mired in controversy, with some partner nations bemoaning the high cost of projects, ...

25 Apr 11:19 AM 0 Read More...

Peru to sign MoU to join China's Belt and Road club in coming days: Chinese ambassador

LIMA (Reuters) - Peru will sign a memorandum of understanding to join China’s Belt and Road infrastructure initiative in coming days, China’s ambassador said on Wednesday, despite recent warnings from the United States about the Beijing’s rise in Latin America. Ambassador Jia Guide made the announcement to guests at a private party in Lima alongside Peru’s vice president, as China kicked off a three-day Belt ...

25 Apr 11:19 AM 0 Read More...

Saudi Arabia says China has not yet asked for more oil amid tighter Iran sanctions

BEIJING (Reuters) - Saudi Arabia’s energy minister Khalid al-Falih told Reuters on Thursday that China has “not yet” asked for more crude oil after the United States decided to end sanction waivers on Iranian oil imports that had permitted Beijing to keep buying from Tehran. The United States re-imposed sanctions against Iran’s oil exports last November, but Washington initially allowed the eight biggest buye...

25 Apr 11:19 AM 0 Read More...

China's top feed producer New Hope builds three pig farms in Vietnam

BEIJING (Reuters) - China’s top feed producer, New Hope Group, said on Thursday it is building three pig farms in neighboring Vietnam, even as an incurable pig disease spreads through the Southeast Asian country. The farms, located in Thanh Hoa, Binh Phuoc, and Binh Dinh provinces, will produce 930,000 pigs in total every year, with construction to be completed by 2021, according to New Hope Group. The new invest...

25 Apr 11:19 AM 0 Read More...

Swedbank admits to shortcomings in anti-money laundering steps

STOCKHOLM (Reuters) - Swedbank posted an estimate-beating first-quarter profit on Thursday, but the Swedish bank admitted to previous shortcomings in combating money laundering and said it was cooperating with investigating authorities. The lender is the subject of a joint investigation by financial watchdogs in Sweden and the Baltics, and the bank also confirmed that it was being probed by U.S. authorities. Broadcas...

25 Apr 6:14 AM 0 Read More...