The Mercedes-Benz cars manufacturer Daimler had released its third quarter report for record sales and revenues. The car cited strong progress in Western Europe which is its biggest market, but its feat was surpassed by the sales it made in China.
Tags: China
Morgan Stanley's Trading Revenue Dropped in the Third Quarter
Morgan Stanley reported a big miss in the third quarter profit as a result of a decline in their trading and private equity business. Although they have shifted their focus on business segment with less risk, global economic slowdown has hit Morgan Stanley and other US banks this quarter.
Concerns raised by US regulators on Philips’ Lumileds Sale to Go Scale Capital
Dutch electronics and healthcare company Philips announced that its proposed sale of Lumileds to Go Scale Capital had run into unexpected opposition from US government.
Alibaba Group Holding Ltd set to release Q2 revenue, experts study how Chinese economic meltdown affected its performance
Alibaba Group Holding Ltd will report on the opening bell of October 27 its second quarter earnings for the fiscal year 2016. Investors and analysts are closely watching its earnings to determine how China's economic slowdown affected the giant e-commerce performance for that quarter.
McDonald's shares hit record high as new CEO's turnaround plan start to work
The shares of McDonalds' - the world's biggest restaurant chain - jumped more than 8% to hit $110.88 on Thursday. CEO Steve Easterbrook, who took over the helm 8 months ago, stated that the rebound in the quarterly restaurant sales showed that his turnaround plan is starting to take effect.
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East Asia's communist country, China is deeming to have merger operation with the nation's largest three major carriers. The said merger talks spark after China revealed its state-owned enterprises reformation plans. Rumors also emerged that the two of the largest airline in China is on merger to create a large fleet on the records.
The strengthening of the US dollar has been hitting Procter & Gamble hard as the company reported its biggest sales drop in seven quarters. The company also cited weak demand especially in the overseas market as the reason behind the low sales performance.
Huawei Technologies Co. dislodges Xiaomi Corp. from its position as the biggest smartphone maker in China. The company sold 27.4 million devices in the quarter ended September 30, according to reports citing data from research firms. That's up 81% from the previous year.
Report on Coca-Cola profit and revenue this quarter shows a drop of nearly 5%. A strong dollar has resulted to a less value in Coca-Cola revenue from outside North America. The global economic slowdown also affected Coca-Cola revenues resulting a revenue cutback.
Hyundai Motor Co's net profit for the third quarter ending September fell 23 percent. The steep fall in China sales coupled with aggressive global incentives impacted the South Korean automobile major's performance in a more negative way.
General Motors pre-tax profit for the third quarter has increased by 37 percent or $3.1 billion thanks to a strong truck and SUV sales in North America and improved performance in China.
Rovio Entertainment, the maker of Angry Birds, announced it will reduce a third of its jobs mostly in Finland. The Finnish gaming company, Rovio Entertainment, had concluded from negotiations between employees on August 26. Rovio had deliberated it will cut 213 jobs.
The Finnish telecom network equipment maker Nokia's acquisition plan for French rival Alcatel-Lucent has received the conditional clearance from the Chinese government. The China's Ministry of Commerce has approved it with some conditions on the Euro15.6billion ($17.6bn) deal's antitrust process.
China's economy grows at its slowest pace in more than six years in the third quarter. Gross domestic product between July and September expanded 6.9% from a year ago, its weakest since the first quarter of 2009. While that is better than the forecasted 6.7% growth, it is lower than the 7% recorded in the first two quarters.
