Volkswagen third-quarter profit slumps as major overhaul looms
By Andrey Sychev (Reuters) -Volkswagen said on Wednesday its third-quarter operating profit plunged 42% as weak performance in the core passenger car unit and high costs, including for model revamps, hit the automaker. After nine months, the operating return on…
UBS posts robust third-quarter profit, almost double forecasts
By Dave Graham ZURICH (Reuters) -UBS Group posted third-quarter profit that was almost double expectations, reducing costs and boosting revenues and said it had completed the first wave of client migrations from Credit Suisse since acquiring its old rival last…
Gazprom subsidiary files $880 million claim against Linde
(Reuters) – A subsidiary of Russia’s gas major Gazprom (MCX:GAZP) has filed a claim for 85.7 billion roubles ($879 million) against global industrial gases and engineering company Linde (NYSE:LIN) and its subsidiaries, court documents showed on Wednesday. The Gazprom subsidiary,…
Thai government pushes for higher inflation target at BOT meeting
BANGKOK (Reuters) -Thailand’s inflation target should work to lift inflation above 1%, the finance minister said on Tuesday, before a meeting with the central bank where he hoped to be able to reach an agreement on a new target and…
Germany needs reform and investment to overcome recession, says IMF Europe head
BERLIN (Reuters) – Germany needs both structural reforms and more investment in public infrastructure to overcome recession, the European head of the International Monetary Fund said in an interview with Sueddeutsche Zeitung. “Without a functioning infrastructure, there can be no…
More companies planning price hikes in Germany, survey finds
BERLIN (Reuters) – Companies in Germany’s industrial, retail and corporate services sectors are planning more price increases, bringing inflation on track to rise to the European Central Bank’s 2% target, according to a survey published on Tuesday. Ifo’s price expectations…