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BMW plans to cut costs after warning on profits

2 hours ago DieselGasoil Comments Off on BMW plans to cut costs after warning on profits
MUNICH (Reuters) – BMW expects group pretax profit to fall by more than 10 percent this year and plans a sweeping 12 billion euro ($13.6 billion) savings and efficiency plan to help offset higher technology investment and currency costs. The German carmaker last week reported a 7.9 percent fall in 2018 operating profit and said Read More

Escalation of US-China bilateral tariffs to shave off $1 trillion from America’s GDP

2 hours ago DieselGasoil Comments Off on Escalation of US-China bilateral tariffs to shave off $1 trillion from America’s GDP
A study by the US Chamber of Commerce shows how the deterioration in the trade dispute between the world’s two largest economies, China and the United States, will drastically affect the American economy. “Escalation of bilateral tariffs results in lower GDP, lower employment, lower investment, and lower trade flows for the United States,” said the Read More

BMW delivers 2019 profit warning and plan to cut costs by 12 bln euros

5 hours ago DieselGasoil Comments Off on BMW delivers 2019 profit warning and plan to cut costs by 12 bln euros
MUNICH (Reuters) – BMW expects group pretax profit to fall by more than 10 percent this year, it said on Wednesday as it announced a sweeping 12 billion euro ($13.6 bln) savings and efficiency plan to help offset higher technology investment and currency costs. FILE PHOTO: The BMW logo is seen on the wheel of Read More

Longest stocks rally of the year stumbles ahead of Fed

5 hours ago DieselGasoil Comments Off on Longest stocks rally of the year stumbles ahead of Fed
LONDON (Reuters) – World shares’ longest rally of the year looked set to stumble on Wednesday as investors took profits before a U.S. Federal Reserve’s policy decision, which is expected to offer clues to interest rate prospects for the coming year. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of Read More

BMW warns of significant profit fall in 2019, seeks 12 billion euro in cuts

7 hours ago DieselGasoil Comments Off on BMW warns of significant profit fall in 2019, seeks 12 billion euro in cuts
MUNICH (Reuters) – BMW on Wednesday said it expected group pretax profit to fall by more than 10 percent in 2019 and announced a sweeping 12 billion euro ($13.6 bln) cost savings and efficiency plan to help offset higher technology investment and currency costs. FILE PHOTO: The BMW logo is seen on the wheel of Read More

World shares face end to winning streak as Fed looms

7 hours ago DieselGasoil Comments Off on World shares face end to winning streak as Fed looms
LONDON (Reuters) – World shares faced an end to their longest winning streak of the year as investors took profits on Wednesday before the U.S. Federal Reserve’s policy decision, seen as offering clues to interest rate prospects over the coming year. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of Read More

BMW warns of significant profit fall in 2019, seeks 12 billion euros in cuts

8 hours ago DieselGasoil Comments Off on BMW warns of significant profit fall in 2019, seeks 12 billion euros in cuts
MUNICH (Reuters) – BMW on Wednesday said it expected group pretax profit to fall by more than 10 percent in 2019 and announced a sweeping 12 billion euro ($13.6 bln) cost savings and efficiency plan to help offset higher technology investment and currency costs. FILE PHOTO: The BMW logo is seen on the wheel of Read More

China clones ‘Sherlock Holmes of police dogs’ to cut time and cost of K9 training

10 hours ago DieselGasoil Comments Off on China clones ‘Sherlock Holmes of police dogs’ to cut time and cost of K9 training
Beijing used the skin of a veteran police dog, credited with helping to solve many murders, to create its younger clone. Officials hope that the K9 cloning program will drive down cost and time required for dogs’ training. A three-month-old pup named Kunxun, China’s first ever cloned police dog, arrived at a canine-training base in Read More

Tencent Music hits low pitch after first earnings report exposes costs

13 hours ago DieselGasoil Comments Off on Tencent Music hits low pitch after first earnings report exposes costs
BEIJING (Reuters) – Chinese streaming firm Tencent Music Entertainment Group delivered its first earnings report as a public company, meeting market expectations but exposing soaring license and content production costs which pulled its shares down 6 percent. Tencent Music Entertainment company is seen officially listed on the floor of the New York Stock Exchange (NYSE) Read More

Asian shares slip from 6-month high ahead of Fed policy decision

14 hours ago DieselGasoil Comments Off on Asian shares slip from 6-month high ahead of Fed policy decision
TOKYO (Reuters) – Asian shares slipped from six-month highs on Wednesday as investors took profits ahead of a policy decision by the U.S. Federal Reserve which is expected to shed more light on its interest rate plans for the rest of the year. A man walks past an electronic stock quotation board outside a brokerage Read More