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by Ali Bekhtaoui Agence France Presse NEW YORK, United States (AFP) — The bronze sculpture of a bull that stands near the New York Stock Exchange serves as a symbol of Wall Street’s power perhaps this year more than ever. Since President Donald Trump took office a year ago, the principal US stock indexes have gained by leaps and bounds, hitting a record string of records. “I have not seen such enthusiasm on Wall Street […]
DETROIT, United States (AFP) — Ford on Tuesday projected 2017 earnings below the level expected by analysts and said results this year would be even lower. The second-biggest US car company forecast adjusted earnings per share of $1.78, five cents below analyst expectations, according to data released ahead of a presentation by Ford chief financial officer Bob Shanks at the Deutsche Bank auto conference Tuesday night. Ford blamed “external headwinds” including high commodity costs and unfavorable exchange rates […]
GENEVA, Switzerland (AFP) – Nestle said Tuesday it has agreed to sell its US candy business to Italy’s Ferrero for CHF 2.7 billion ($2.8 billion/2.3 billion euros) in cash as the Swiss food giant shakes up its product portfolio. Ferrero, known for its Tic Tac, Nutella and Ferrero Rocher brands but which has traditionally preferred organic growth to acquisitions, will now be picking up Crunch, Butterfinger and Baby Ruth from Nestle. The sale will make Ferrero the third-largest confectionary […]
by John BIERS / Nova SAFO Agence France-Presse DETROIT, United States (AFP) — Car makers appealed to Americans’ deep love of SUVs and trucks on Monday at the Detroit Auto Show, unveiling a host of choices from luxurious to utilitarian, while also beefing up the humble sedan. From European car makers to American icons, there were dozens of new offerings for the North American market. While sedans and electric cars were still in the game, […]
DETROIT, United States (AFP) — The chief executive of Daimler said Monday at the Detroit auto show that his company cannot currently guarantee it can meet tougher European CO2 emissions standards taking effect in several years. Dieter Zetsche, CEO of the maker of Mercedes-Benz luxury vehicles, told reporters he “can’t guarantee” to meet tightening emission standards in 2021. “It’s a huge challenge for everyone,” he told AFP later in an interview. “We will make it. […]
LONDON, United Kingdom (AFP) — British construction and outsourcing services group Carillion announced its immediate liquidation Monday after the heavily-indebted company failed to secure a financial rescue from the UK government and banks. Carillion, which employs 43,000 staff worldwide including 19,500 in Britain, said that the government would nevertheless provide some funding to allow current state projects to continue, following crunch talks over the weekend. “This is a very sad day for Carillion, for our […]
DETROIT, United States (AFP) — Volkswagen said Sunday that its namesake brand sold more vehicles worldwide in 2017 than ever before, a sign it is recovering from a bruising emissions-cheating scandal three years ago. “We finished 2017 with the best performance ever for Volkswagen,” Herbert Diess, chairman of the board of management of the Volkswagen passenger cars brand, said Sunday night at the Detroit Auto Show. Global sales rose 4.2 percent to 6.2 million, with […]
PARIS, France (AFP) — Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it’s not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting. Dozens of crypto units see the light of day every week, as baffled financial experts look on, and while none can match Bitcoin’s $200-billion euro ($242 bilion) market capitalisation, several have left the media darling’s profitability in the dust. In […]
WASHINGTON, United States (AFP) — Dominant digital currency bitcoin should not be allowed to become the Swiss bank account of the modern era used to hide illicit activity, Treasury Secretary Steven Mnuchin said Friday. Mnuchin pledged to work with other governments, including within the Group of 20, which includes the world’s major economies, to monitor the activity of those who invest heavily in the cryptocurrency. “One of the things we will be working with the G20 on is […]
MILAN, Italy (AFP) — Friday Italy’s government said Friday it is considering three bids for troubled airline Alitalia from Lufthansa, EasyJet and a private equity firm, and hopes to have a deal wrapped up by May. “I can confirm that the goal is to complete a deal before the elections”, Economic Development Minister Carlo Calenda said on the La7 television channel, referring to Italy’s general election due on May 4. The three offers received are from German airline giant Lufthansa, US […]
HONG KONG, China (AFP) — Most Asian markets resumed their positive start to the year on Friday with Hong Kong extending its record run to 14 days while the euro held gains after the previous day’s jump. Investors were once again provided a strong lead from Wall Street where all three main indexes advanced to new all-time highs, with energy firms riding a surge in oil prices. Confidence across world markets is booming on the […]
NEW YORK, United States (AFP) — Italian-American automaker Fiat Chrysler on Thursday unveiled a plan to invest $1 billion in a Michigan assembly plant and offer bonuses to tens of thousands of employees, saying the measures were possible because of US tax reform. The third-biggest US car maker said the investment would help it to modernize a plant in northern Michigan to “produce the next-generation Ram Heavy Duty truck,” shifting production of the vehicle to […]
