05012016Sun
Last update: Sun, 01 May 2016 06pm

Industries & Sectors

Business & Finance - Industries & Sectors

Volkswagen says not in talks with Apple or Google WOLFSBURG: Volkswagen Chief Executive Matthias Mueller said the carmaker is in talks with external partners to start new digital mobility businesses but added these talks do not involve Apple or Google. Speaking at a press conference to discuss full-year results in Wolfsburg on Thursday, Mueller said the company was looking for ways to expand its offering in the area of digital mobility services."Please understand if I cannot name these companies, but we are not in talks with Apple or Google," Mueller said. Mueller also said he could not estimate how long it would take to resolve regulatory issues with authorities in the United States, who would first have to receive results of the internal investigation it has commissioned from law firm Jones Day, which is expected to finish its work by the end of the year. Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

Telefonica Deutschland Q1 OIBDA down on integration, marketing costs FRANKFURT: Telefonica Deutschland said on Thursday its core profit dropped in the first quarter as a result of integration and marketing costs, while mobile service revenues were down. The company, which is majority-owned by Spain's Telefonica , said first-quarter operating income before depreciation and amortisation (OIBDA) fell 4.2 percent to 379 million euros ($428.7 million). That missed even the most pessimistic expectation of 393 million euros in a Reuters poll, with an average of 410 ...

Business & Finance - Industries & Sectors

Lufthansa CEO says Europe needs more airline consolidation HAMBURG: Europe's airline industry needs more consolidation, Lufthansa Chief Executive Carsten Spohr said on Thursday at the carrier's annual shareholder meeting. "Consolidation is a part of what needs to happen in Europe in order to make the sector more competitive when compared to the United States and Asian," Carsten Spohr said, adding that Lufthansa wanted to take part in consolidation and not be a bystander. Lufthansa said late Wednesday it was looking at ways to ...

Business & Finance - Industries & Sectors

Kenya Airways says pilots on strike despite deal to defer action, experiences disruption NAIROBI: Kenya Airways said on Thursday it was experiencing unspecified disruption due to what it said was a strike by its pilots despite an agreement reached a day earlier to defer the strike notice until June 1.The Kenya Airline Pilots Association (KALPA) issued a two-day notice to the carrier on Tuesday saying its members would stop flying planes until Kenya Airways Chief Executive Mbuvi Ngunze resigned over what it called "questionable" turnaround measures. Kenya Airways ...

Business & Finance - Industries & Sectors

CNOOC Q1 revenue sinks 30.7pc on weak oil; output up 5pc BEIJING: CNOOC Ltd, China's offshore oil and gas specialist, reported a 30.7 percent plunge in first-quarter revenue as global crude prices sank to a more than 12-year low, but delivered a 5-percent growth in production over the period. CNOOC's total net production rose 5.1 percent over the year-ago period to 124.3 million barrels of oil equivalent (boe), as two new oilfields came on stream, the company said in a filing with the Hong Kong stock ...

Business & Finance - Industries & Sectors

Sony's sensor business slows even as cost cuts lift profit TOKYO: Japan's Sony Corp on Thursday reported an annual loss in its image sensors business, raising fears the firm's revival of recent years may be losing momentum, even though cost cuts helped it book its biggest operating profit in eight years. Annual operating profit more than quadrupled to 294.2 billion yen ($2.7 billion) for the year ended March due to cost cuts in its struggling smartphone business and brisk demand for PlayStation 4 videogames. But ...

Business & Finance - Industries & Sectors

Ford Motor sets records for profit, operating margins DETROIT: Ford Motor Co reported a 113 percent surge in quarterly net income and records for global and North American operating margins, thanks to robust pricing of its F-150 pickup trucks in North America and improved profit in Europe.Ford's net income was $2.45 billion, or 61 cents per diluted share, in the first quarter through March 31, versus $1.3 billion, or 29 cents per diluted share, a year ago. Excluding one-time items, Ford's earnings per ...