Volkswagen lifted its profit guidance for this year after posting forecast-beating group earnings in the third quarter, benefiting from cost cuts at its core autos division. Quarterly group earnings before interest and taxes (EBIT) before special items jumped 15 percent to 4.31 billion euros ($5.01 billion) from 3.75 billion a year ago, Volkswagen (VW) said […]
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Putin, as part of a test, reportedly authorized the launch of 4 nuclear-capable ballistic missiles
Russian President Vladimir Putin authorized the launch of four nuclear-capable ballistic missiles as part of a test, Reuters said, citing a media report. This is breaking news. Check back for updates. —Reuters contributed to this report. Source: cnbc Putin, as part of a test, reportedly authorized the launch of 4 nuclear-capable ballistic missiles
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France's Total third-quarter net profit lifted by strong output and cost savings
French oil and gas major Total reported a 29 percent jump in third-quarter net profit as ramp-ups and new projects lifted production, while high demand for petroleum products led to a sharp increase in its refining margin. Total’s oil production rose 6 percent in the quarter, while adjusted net operating income from its upstream exploration […]
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RBS reports better than expected third-quarter profit of $1.14 billion
Royal Bank of Scotland reported a better than expected operating profit for the third quarter of 871 million pounds ($1.14 billion) on Friday, as it kept costs under control and avoided any conduct charges. The state-owned bank’s operating profit beat the 694 million pounds predicted by an average of analysts’ estimates compiled by the bank. […]
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European markets set to open higher after upbeat earnings from Wall Street tech giants
European stocks are set to open higher on Friday morning, buoyed by upbeat earnings from U.S. tech giants and the prospect of continuing stimulus in Europe. Looking to the major bourses, the U.K.’s FTSE 100 is expected to open 4 points higher at 7,489, while the German DAX is set to start on a positive […]
Read moreThe Navy has three carrier strike groups currently in the Pacific where North Korea’s nuclear saber rattling has the U.S. and its Asian allies keeping a close watch on the pariah state. The last time the Navy operated three carriers together in the Pacific Fleet was back in 2007, and the current show of force […]
Read moreThe decades-long strategic relationship between Beijing and Pyongyang is looking increasingly strained. A sure sign of that decline can be seen in a Wednesday message from North Korean leader Kim Jong Un to Chinese President Xi Jinping, according to Kim Tae-hyo, political science professor at Seoul-based Sungkyunkwan University. The dictator wished Xi “great success,” according […]
Read moreThe Swiss bank UBS reported a net income below market expectations, but 14 percent higher than the same period last year. The number is nonetheless above the bank’s own consensus report, which indicated, earlier this month, a net income of 0.897 billion Swiss francs. Here are the key metrics: Net income: 0.9 billion Swiss francs […]
Read moreThe further consolidation of power in China under President Xi Jinping could help the country achieve its economic rebalancing and reform goals, Moody’s said in a report released Friday. The world’s second-largest economy announced its new leadership lineup on Wednesday after a week of closed-door meetings and internal voting. That lineup saw Xi once again […]
Read moreAustralia’s High Court ruled Friday that Deputy Prime Minister Barnaby Joyce is ineligible to remain in parliament, a decision that has cost the coalition government its one-seat parliamentary majority. Joyce was one of seven politicians whose eligibility to sit in parliament was thrown into doubt when it was found they were dual citizens, which bars […]
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