An upcoming meeting of the OPEC+ panel is anticipated to maintain the current production cut agreement and delay any new adjustments, despite a recent sharp drop in oil prices, according to multiple sources within the producer group. The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, are scheduled to hold…
Spain’s anti-trust authority has imposed a substantial fine of €413.2 million ($448 million) on Booking.com for exploiting its dominant position in the market over the past five years. The National Commission on Markets and Competition (CNMC) announced on Tuesday that Booking.com, a subsidiary of the New York-listed Booking Holdings, would be penalized with two separate…
Monday’s opening price dip for Heineken was over 7% as the beer giant’s first-half earnings growth disappointed forecasts. The shares of the firm was down 7.9% at 12:18 PM London time. Operating profit grew organically by 12.5%, less than the 13.2% company-compiled average estimate. Beer sales increased by just 2.1% compared to an estimated 3.4%…
The behemoth of Swiss pharmaceuticals, Roche, said on Monday that it is accelerating the development of its Wegovy competitor weight-loss medications in light of encouraging early-stage trial results. The company’s two obesity medication candidates are moving forward in the clinical trial process and may hit the market in the coming years, offering a possible pill-based…
The Royal Mail is one of the most recognisable corporations in Britain. When acquisitive Czech billionaire Daniel Kretinsky set his sights on it earlier this year, he selected BNP Paribas to advise him. Although clearance from the UK government is still required for the 3.57 billion pound ($4.63 billion) buyout of Royal Mail’s owner the…
A licence for an Alzheimer’s medication that reduces cognitive decline has been denied by the European Medicines Agency (EMA). According to the EMA, lecanemab’s advantages did not outweigh the possibility of major adverse effects, such as brain swelling and haemorrhage. A decision about the granting of a licence is still pending from the UK’s pharmaceuticals…
As it battles with sluggish U.S. demand for its ageing line-up, Nissan lowered scheduled production by a third at its top Japanese factory this month. According to two individuals, this move will also see Nissan reduce output of a premium crossover model. The Japanese carmaker highlighted the growing danger it confronts in its biggest market…
Mercedes-Benz reduced its projection for yearly profit margin on Friday due to poor sales and profitability for the second quarter, but it still believes that new models will help it fight tough competition in China in the second half of the year. Lacklustre demand for electric vehicles (EVs), severe domestic rivalry in China, supply constraints,…
According to a report published on Friday in the Nikkei business daily, Toyota Motor of Japan intends to construct an electric vehicle battery facility in the southern prefecture of Fukuoka. The project will sell its batteries to a factory that produces premium Lexus brand automobiles. According to the publication, the top-selling carmaker in the world…
Due to weak demand and increased costs, Westlife Foodworld, the company that runs McDonald’s restaurants in west and south India, announced a sharp decline in first-quarter earnings on Thursday. This news caused a 4% decline in the company’s shares. For the three months ending June 30, the combined profit after taxes decreased by 89% to…
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