Bruno Le Maire struck a defiant tone on the sidelines of the World Economic Forum, saying France would continue with its plans for a digital tax if there was no agreement at the OECD on an international taxation.
UK manufacturers have become much more optimistic about their business outlook since October, according to a survey published on Wednesday that points to a possible rebound in economic growth since the December general election.
Daimler warned that 2019 profits would be hit by up to €1.5bn in litigation costs related to the diesel emissions scandal, the latest blow to the struggling carmaker’s efforts to fund its electric shift.
Burberry has boosted its revenue outlook for the year as rapid sales growth in mainland China helped to neutralise the blow it has taken from protests in Hong Kong and its efforts to shift the brand upmarket gather pace.
IBM inched back to a position of growth by the thinnest of margins in the final quarter of last year, as a new mainframe product cycle helped it shake off the effects of a secular decline in its giant IT outsourcing operations.
MSCI, the indices and data analytics provider, has agreed to pay $190m to acquire a minority stake in Burgiss Group, a specialist private asset data provider, in a deal that reflects the growing importance of alternative investments in the portfolios of pension funds and other institutional investors.
Harrison Street, one of the largest alternative real asset investment firms, and Trinity Investment Management have agreed to buy five UK life sciences properties in a £250m deal, in the latest example of US investors betting on the British biotech industry.
Eurozone companies’ demand for bank loans has fallen for the first time in six years, in a worrying sign for the region’s faltering economy and the European Central Bank’s attempt to stimulate more lending.
Moody’s has cut Hong Kong’s credit rating, saying the government’s “slow” and ineffective response to months of protests has prompted it to reassess the Chinese territory’s institutional strengths and governance.
Trafigura, the global commodities trader, has taken a 6 per cent stake in President Energy, a London-listed oil and gas producer with assets in Argentina, as part of a deal to help the small company pay down debt.