Business

The Danish logistics company is raising funds to buy Schenker, the logistics unit of German state railway Deutsche Bahn. ADVERTISEMENT DSV said on Friday that it had issued more than 26 million new shares to investors and had raised DKK 37.3bn (Danish Krone), equal to around €5bn. Shares were sold at DKK 1,410.50 each – approximately €190. These new investments …

Around €40 trillion worth of economic activity is moderately or highly dependent on nature – according to the World Economic Forum. A shift towards greener energy sources is necessary, but how do we get there? ADVERTISEMENT The EU’s strategy to become climate neutral by 2050, the European Green Deal, has got off to a bumpy start. Since its approval in …

France finished its last bond offering worth €12bn on Thursday, as the country waits for Michel Barnier, the new prime minister, to announce the budget for 2025. It’s expected to focus on plans to reduce France’s deficit and boost investor confidence. ADVERTISEMENT The bond sale raised about €12bn, which was the highest number that the government was aiming for. However, …

The new levy, if accepted by parliament, could cost more than one-fourth of the expected growth in earnings for the biggest companies traded on the French stock exchange, according to a report. ADVERTISEMENT The French government is considering a significant tax hike for companies so they shoulder some of the expenses of halving the public deficit by 2029.  However, the …

LVMH has signed a 10-year global partnership with Formula One, with brands such as Louis Vuitton and Tag Heuer involved. The iconic watch manufacturer Rolex is ending a partnership with Formula One, which has been ongoing since 2013. ADVERTISEMENT In a historic move, French luxury conglomerate LVMH has replaced Rolex, by clinching a sponsorship deal with Formula One. The global …

Dutch airline KLM said it is planning ‘painful’ cost-cutting to combat high costs and staff shortages. ADVERTISEMENT Dutch airline KLM announced a “painful” round of cost-cutting and other measures on Thursday aimed at boosting the carrier’s finances as it continues to recover from the COVID pandemic that grounded planes worldwide. CEO Marjan Rintel said KLM, along with many other airlines, …

Tesla shares fell despite recording the highest third-quarter delivery figures, as investors had expected more. Markets will now shift focus to the Robotaxi event and the upcoming earnings reports. ADVERTISEMENT Tesla delivered 462,890 electric vehicles in the third quarter, marking a 6.4% year-on-year increase and a 4.2% sequential rise, returning to growth after two consecutive quarterly declines. This figure is …

World shares slipped on Thursday as investors continued to monitor an escalation of tensions in the Middle East. ADVERTISEMENT World shares were mostly lower on Thursday after US stocks stalled as investors awaited developments in the Middle East. Germany’s DAX shed 0.7% to 19,026.36 while the CAC 40 in Paris gave up 0.8% to 7,514.49. In London, the FTSE 100 …

Stellantis extended its quarterly delivery decline in the US, with car sales falling 20% year-on-year. The company is committed to reducing inventory levels, which it views as the primary challenge. ADVERTISEMENT Stellantis delivered 305,294 vehicles in the third quarter, a sharp 19.8% drop from the same period last year, marking its fifth consecutive quarterly sales decline in the US. The …

SPD proposal to incentivise drivers to ditch polluting vehicles misses the mark, say critics. ADVERTISEMENT Proposals by the German Social Democratic Party (SPD) to pay drivers thousands of euros to replace their polluting cars with EVs have been criticised for tackling the wrong problem. Plans would see Germans willing to scrap their gas-guzzling cars and replace them with a new …