CHRYSLER, NISSAN POST STRONG U.S. SALES
Chrysler Group and Nissan Motor both posted U.S. auto sales
growth of 19% in September, the latest signs of strong demand among
buyers.
GENERAL MILLS TO ELIMINATE 700 TO 800 SALARIED JOBS
General Mills said it would eliminate 700 to 800 salaried jobs,
adding to a similar number of factory job cuts it announced
recently as the maker of Wheaties cereal and Yoplait yogurt tries
to cut costs amid flagging sales.
TWO EU AIRPORTS, FOUR AIRLINES TO REPAY ILLEGAL AID
A German and a Belgium airport plus four airlines will be
required to pay back millions of euros in illegal state support.
The affected airlines include TUIFly, Ryanair, Meridiana and
Germanwings, a subsidiary of Lufthansa.
ADIDAS LAUNCHES $1.9B RETURN PROGRAM
Adidas launched a $1.9 billion shareholder return program
through to the end of 2017 in an effort to assuage disgruntled
shareholders following a profit warning and dissatisfaction with
the company's turnaround efforts.
FRANCE SELLS 1.9% ORANGE STAKE FOR EUR584M
The French government sold a 1.9% stake in the country's former
telecommunications monopoly Orange in a private placement for 584
million euros or $736 million.
U.K. REGULATOR INVESTIGATES TESCO
The U.K. Financial Conduct Authority has notified Tesco that it
has launched a full investigation into the U.K.-based supermarket's
recent GBP250 million ($405.7 million) overstatement of expected
profit.
SAINSBURY POSTS 3RD QUARTERLY SALES DECLINE
J Sainsbury posted a third successive quarterly decline in sales
and warned on its second-half sales performance, amid stiff
competition among U.K. supermarket chains.
UBM AGREES TO BUY ADVANSTAR FOR $972M
U.K. media company UBM said it has agreed to buy Advanstar
Communications, a U.S. events company best known for producing the
Magic Marketplace fashion event, for $972 million in cash.
EUROPEAN CAR MARKET SET FOR SLOW RECOVERY
The European car market will recover slightly in 2014 after
bottoming out last year after five consecutive annual declines, the
chief executive of Renault said.
ZALANDO STOCK DEBUT DISAPPOINTS
Online retailer Zalando SE's stock market debut was described as
disappointing by analysts after the online retailer's shares
swiftly shed their opening gains. The company raised EUR605 million
($765 million) from the IPO.
SOFTBANK TO SELL SONY FLAGSHIP PHONE
SoftBank will carry Sony's latest smartphone, the two companies
confirmed on Wednesday, possibly giving the heavily diversified
electronics maker's struggling mobile business a lift.
GLENCORE SUSPENDS ZAMBIA COPPER PROJECTS OVER TAX ROW
London-listed Glencore said that it has suspended some of its
planned $800 million copper projects in Zambia after the government
withheld at least $200 million in tax refunds.