Volkswagen said group operating profit more than doubled in the second quarter, helped by cost cuts and higher-margin new models at its core namesake brand. Earnings before interest and tax jumped to 4.55 billion euros ($5.34 billion) from 1.90 billion a year earlier, VW said on Thursday, beating a 4.49-billion-euro consensus forecast in a Reuters […]
Read moreNew data show business travelers are increasingly turning to Uber and Lyft while taking fewer cabs and renting fewer cars when out on the road. Certify, a travel management firm which handles corporate travel transactions, analyzed more than 10 million receipts filed in the second quarter. It found the amount of money spent on rental […]
Read moreDemand for oil will not shrink overnight despite governments preparing for a transition into electric cars, the CEO of Shell told CNBC on Thursday. “Even in the most aggressive scenario, where policies really work at their best, where technology really makes a lot of strides in the near future, oil isn’t going to peak before […]
Read moreCo-working space start-up WeWork has raised $500 million to set up shop in China, the company announced on Thursday. Japanese conglomerate SoftBank and Chinese private equity firm Hony Capital led the investment. The investment created an entity that will operate under the name WeWork China and will allow the company to expand its operations into […]
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Roche, the biggest maker of cancer drugs, raises outlook after first-half profit beat
Roche, the biggest maker of cancer drugs, raised its 2007 outlook after first-half profit beat market expectations just as the Swiss group’s ageing portfolio of blockbuster medicines faces increasing competition from biosimilar copies. “In 2017, Roche now expects sales to grow mid-single digit, at constant exchange rates. Core earnings per share are targeted to grow […]
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Russian supermodel Natalia Vodianova: Moscow was another planet when I was growing up in poverty
Russian supermodel Natalia Vodianova is now one of the world’s most recognizable faces, having been on the cover of Vogue magazine more than 70 times and starring in lucrative advertising campaigns for brands including Calvin Klein, Versace and L’Oreal. But growing up in the 1980s in Nizhny Novgorod, a city 400km east of Moscow, Vodianova […]
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Incoming White House communications director Anthony Scaramucci on Wednesday evening called the “leak” of his financial disclosure form a “felony,” saying that he would be contacting the FBI and Justice Department about the matter. The disclosure, however, is a public document, multiple commentators pointed out. Late on Wednesday, Politico reported findings from the former hedge […]
Read moreMoody’s Investors Service no longer takes a negative view on China’s banking system, raising its outlook to stable on Thursday as concerns over so-called shadow banking eased. “The government’s adoption of more coordinated policy measures to curb shadow banking will help mitigate asset risks for banks, and address some key imbalances in the financial system,” […]
Read moreHere are the two top places where WPP will be putting ad dollars this year, according to CEO Sorrell
Despite the stock market rally, technology and pharmaceuticals are the main sectors actually chalking up growth, said advertising and public relations company WPP’s CEO, Sir Martin Sorrell. “Growth is there, but it’s in limited sectors of the economy despite what the stock market is saying,” Sorrell told CNBC’s “Squawk Box” on Thursday. The advertising guru […]
Read moreSoftware startup Slack Technologies is raising $250 million in a new funding round, according to people familiar with the matter, boosting the company’s valuation as Silicon Valley companies enjoy a surge in venture capital investments. Slack, which makes messaging and collaboration software for businesses, is raising the fresh funding at a valuation of slightly more […]
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