President Donald Trump and his Russian counterpart Vladimir Putin will likely meet on the sidelines of an economic summit in Vietnam Friday, according to a Kremlin spokesperson. “Right now the time of the meeting is being agreed,” presidential aide, Yuri Ushakov, told reporters Thursday, according to Russian news agencies. Trump and Putin are both expected […]
Read moreChina’s growing middle class and a young, travel-loving population present a massive growth opportunity for Airbnb, one of the company’s co-founders told CNBC on Thursday. Speaking at the sidelines of an Asia-Pacific Economic Cooperation summit in Vietnam, Nathan Blecharczyk said the start-up is doing very well in the world’s second-largest economy. “China has been the […]
Read moreGerman sportswear firm Adidas posted another strong quarter of sales and profit growth Thursday, driven by expansion in China and North America, where it has been taking market share from archrival Nike. Here are the key third-quarter metrics: Net profit: 526 million euros ($610 million) vs. 512 million euros expected, according to Thomson Reuters Sales: […]
Read moreThings aren’t so bad for the Chinese banks right now: The frequently maligned companies have seen their shares soaring and their businesses improving. But things may actually get even better. That is, several financial metrics are now pointing to the prospects of higher banking profits following a nationwide clampdown on swelling debt — and investors […]
Read moreThe Indian capital declared a pollution emergency and banned the entry of trucks and construction activity as a toxic smog hung over the city for a third day on Thursday and air quality worsened by the hour. Illegal crop burning in the farm states surrounding New Delhi, vehicle exhaust emissions in a city with limited […]
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Commerzbank swings to net profit in third quarter despite weak markets
Commerzbank swung to a net profit in the third quarter despite weak markets as the German lender focuses on a major overhaul. The 472 million euro ($547.7 million) net profit at Germany’s second-largest lender after Deutsche Bank was broadly in line with analysts’ expectations for a profit of 477 million euros, according to a Reuters […]
Read moreDeutsche Post DHL Group confirmed its earnings target for 2017, saying it expected a strong Christmas period, as it reported a 10.5 percent rise in third-quarter profit on Thursday. The company reported earnings before interest and tax (EBIT) of 834 million euros ($968 million), against analyst expectations for 841 million in a Reuters poll. It […]
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Siemens set to complete work for health unit IPO by March 2018, CEO says
Siemens is set to conclude internal preparations to sell its health care unit by the end of March of next year, the chief executive officer told CNBC Thursday. “We have a fascinating health care business,” Joe Kaeser, CEO Siemens told CNBC, “and are going to float the business … because we do believe this is […]
Read moreEuropean stocks are expected to open lower Thursday morning, as investors monitored a slew of corporate earnings. Looking to the major bourses, the U.K.’s FTSE 100 is expected to open 7 points lower at 7,511, while the German DAX is set to start on a negative note, down 16 points at 13,377, and the French […]
Read morePresident Donald Trump received a ringing endorsement this week from an unexpected source: A highly nationalistic Chinese propaganda outlet. In a Thursday editorial, China’s Global Times praised many of the U.S. leader’s qualities, and criticized the American media for “fake reports” that painted a negative picture of the man. “Trump is one of the most […]
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