15 December

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Volkswagen shares gain as CEO gets backing from supervisory board

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FRANKFURT (Reuters) - Shares in Volkswagen (DE:VOWG_p) rose as much as 3.7% on Tuesday after the carmaker said its CEO had the full support of its supervisory board, temporarily ending a power struggle over the measures to accelerate the push towards electric cars. A Frankfurt-based trader called it some "kind of compromise" after Volkswagen also said it would cut overhead costs...

15 December

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British mid-caps muted as London goes into tougher lockdown

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By Shivani Kumaresan (Reuters) -British mid-cap stocks were subdued on Tuesday as tougher restrictions were imposed in London to curb a resurgent COVID-19 pandemic, while investors awaited a Brexit trade deal with the European Union before a year-end deadline. The domestically focussed FTSE 250 index was nearly flat a day after it posted its best session in more than a week on...

15 December

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European Stocks Higher as Brexit Deal Optimism Grows

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By Peter Nurse Investing.com - European stock markets traded higher Tuesday, amid optimism over the ongoing Brexit trade negotiations despite increasing Covid-related lockdowns. At 3:55 AM ET (0855 GMT), the DAX in Germany traded 0.6% higher, the CAC 40 in France rose 0.6% and the U.K.'s FTSE index climbed 0.3%. European Union negotiator Michel Barnier has said that sealing a trade pact with...

15 December

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French and Dutch securities watchdogs urge crackdown on “greenwashing”

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LONDON (Reuters) - European Union rules are needed to prevent "greenwashing" or inaccurate claims that investments are sustainable and climate-friendly, French and Dutch securities regulators said on Tuesday. "The proposed framework is aimed at preventing misallocation of investments, greenwashing, and ensuring investor protection," said a joint statement from French regulator AMF and its Dutch counterpart AFM. ...

15 December

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WPP to restate financial statements for last three years

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(Reuters) - WPP (LON:WPP), the world's biggest advertising company, said it will restate its financial statements for 2017, 2018 and 2019 as some aspects were not fully in line with the accounting requirements. These adjustments will not impact on any of WPP's headline measures, operating profit, net debt, net assets, net current liabilities or statement of cash flows, the company said...

15 December

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Fashion retailer H&M sales dip 10% in local currencies in fourth quarter

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STOCKHOLM (Reuters) - Sweden's H&M, the world's second-biggest fashion retailer, said on Tuesday that local-currency sales fell 10% in the September-November quarter as the second wave of the pandemic led to a fresh slowdown towards the latter part of the period. The rival of Zara owner Inditex (MC:ITX) said a recovery seen in the previous quarter had continued through much...

15 December

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JD Sports buys Shoe Palace for $325 million to expand U.S. footprint

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(Reuters) - Britain's biggest sportswear retailer JD Sports said on Tuesday it had acquired U.S.-based shoe retailer Shoe Palace for $325 million. The company said the deal would expand its footprint in the U.S. West Coast and increase its appeal among Hispanic and Latino consumers, who form a significant proportion of Shoe Palace's customer base. ...

15 December

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Furlough scheme could be used to support firms hit by no-deal Brexit – The Telegraph

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(Reuters) - The British government could widen its job retention scheme after Jan. 1 to support businesses impacted by no-deal Brexit disruption, The Telegraph https://www.telegraph.co.uk/politics/2020/12/14/furlough-scheme-could-used-support-firms-hit-hardest-no-deal reported on Monday, citing government sources. Businesses could access wage support, grants and emergency loans already set up by finance minister Rishi Sunak to deal with the effects of the coronavirus pandemic, the report added. ...

15 December

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Apple plans 30% increase in iPhone production for first half of 2021 – Nikkei

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(Reuters) - Apple Inc (NASDAQ:AAPL) plans to manufacture up to 96 million iPhones for the first half of 2021, a nearly 30% year-on-year increase, Nikkei reported https://s.nikkei.com/3mlVbPC on Tuesday. ...

15 December

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Exclusive: China search giant Baidu considers making own electric vehicles – sources

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BEIJING (Reuters) - China's Baidu Inc (NASDAQ:BIDU) is considering making its own electric vehicles and has held talks with automakers about the possibility, said three people with knowledge of the matter, the latest move in a race among tech firms to develop smart cars. The search engine leader, which also develops autonomous driving technology and internet connectivity infrastructure, is considering contract manufacturing,...

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News

Volkswagen shares gain as CEO gets backing from supervisory board

British mid-caps muted as London goes into tougher lockdown

European Stocks Higher as Brexit Deal Optimism Grows

French and Dutch securities watchdogs urge crackdown on “greenwashing”

WPP to restate financial statements for last three years

Fashion retailer H&M sales dip 10% in local currencies in fourth quarter

JD Sports buys Shoe Palace for $325 million to expand U.S. footprint

Furlough scheme could be used to support firms hit by no-deal Brexit – The Telegraph

Apple plans 30% increase in iPhone production for first half of 2021 – Nikkei

Exclusive: China search giant Baidu considers making own electric vehicles – sources

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