09262016Mon
Last update: Mon, 26 Sep 2016 01pm

Industries & Sectors

Business & Finance - Industries & Sectors

Daimler extends connected car deal with Deutsche Telekom FRANKFURT: German carmaker Daimler has extended a contract for Deutsche Telekom's T-Systems unit to manage its connected car services.The German telecoms operator said on Wednesday the deal was worth hundreds of millions of euros.T-Systems connects more than two million Daimler vehicles across the globe via Daimler's connected car platform, which provides services such as live traffic information, emergency call, remote control, and parking search functions.Deutsche Telekom declined to say how long the contract extension was for. Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

FedEx quarterly profit rises CHICAGO: Package delivery company FedEx Corp on Tuesday reported a higher net profit, driven by rising revenue in its express, ground and freight business units. The Memphis-based company posted net income for its fiscal first quarter ended Aug. 31 of $715 million or $2.65 per share, compared with $692 million or $2.42 per share a year earlier. On an adjusted basis the company earned $2.90 per share. Analysts had on average expected earnings per share ...

Business & Finance - Industries & Sectors

Global dairy prices inch higher in overnight auction WELLINGTON: International milk prices rose in the overnight Global Dairy Trade auction but the increase was less than expected.The GDT Price Index, which covers a variety of products and contract periods, climbed 1.7 percent, with an average selling price of $2,975 per tonne, in the auction held on Tuesday.Whole milk powder, which makes up the bulk of the auction, eased 0.2 percent to $2,782 percent while skim milk powder rose 3.0 percent. Dairy futures contracts ...

Business & Finance - Industries & Sectors

Air France cancels flight to Kinshasa amid political unrest PARIS: Air France said on Tuesday it had cancelled its morning flight to Kinshasa amid an escalation of street violence in the Democratic Republic of Congo capital over opposition claims the president wants to extend his mandate. The airline blamed "the deteriorating local security situation" for the cancellation of the flight and said it was following events in Kinshasa carefully. Armed men early on Tuesday set fire to the headquarters of one of the country's ...

Business & Finance - Industries & Sectors

Eni delays $3bn sale of retail arm over political turmoil MILAN/LONDON: Italian oil major Eni has delayed the planned $3.4 billion sale of its domestic retail business, sources said, as political uncertainty caused by an upcoming referendum on democratic reform hinders major deals across the country. The state-controlled company had hoped to start the sale process late this year but has rescheduled it for 2017, betting that the fate of Prime Minister Matteo Renzi and his government will become clearer after the vote, according to ...

Business & Finance - Industries & Sectors

Spain's Telefonica to raise up to 1.5bn euros with Telxius IPO MADRID: Spanish telecoms group Telefonica said on Tuesday it would raise up to 1.5 billion euros ($1.68 billion) with the initial public offer of shares in Telxius, its telecoms masts business, as it tries to reduce its debt. The Telxius share flotation comes after the sale of its British mobile network operator O2 UK to rival operator CK Hutchison for 10.25 billion pounds ($13 billion) was blocked by Europe's competition regulator earlier this year, piling ...

Business & Finance - Industries & Sectors

VW has no plans for trucks unit IPO before 2019 BERLIN: Volkswagen has no plans for a public listing of its trucks business until 2019, Manager Magazin reported on Tuesday, citing senior managers at the carmaker. Some analyst had speculated that Volkswagen (VW) might sell or float its truck operations to help raise funds as the carmaker is pushing to become a global force in trucks. But VW trucks chief Andreas Renschler told Reuters in July that a public listing of VW's Truck & Bus ...