Business

Novartis sees strong interest in Sandoz generics unit – Finanz und Wirtschaft

Novartis (NOVN.S) is seeing strong interest from private equity investors as well as from other pharmaceuticals companies for the Sandoz generic drugs business it is considering selling, Chief Executive Vas Narasimhan said in a newspaper interview. “We have seen considerable interest from private equity firms as well as other companies in the market,” Narasimhan told […]

Business

Mercedes-Benz sees good dividend prospects on healthy margins – Boersen-Zeitung

Luxury carmaker Mercedes-Benz (DAIGn.DE) aims to maintain double-digit operating margins, its finance chief told Boersen-Zeitung, adding this resulted in very good dividend prospects. “Despite raw materials and semiconductor shortages our results at Mercedes have developed very well, with double-digit operating margins,” Harald Wilhelm was quoted as saying, adding it was the aim to keep those […]

Business

UniCredit chief not interested in Generali or Mediobanca – Il Sole 24 Ore

UniCredit (CRDI.MI) wants to grow its domestic footprint and could consider tie-ups in Italy and abroad, but has no interest in the country’s biggest insurer Generali (GASI.MI) and its top shareholder Mediobanca (MDBI.MI), CEO Andrea Orcel said in a newspaper interview. UniCredit, Italy’s No.2 bank by assets, on Thursday unveiled a three-year plan, pledging to […]

Business

Europe’s car industry too reliant on other regions, says Bosch chairman

Europe’s automotive sector has become too reliant on Asia and other regions for vital components such as semiconductors and battery cells, Bosch’s (ROBG.UL) outgoing chairman told a German newspaper. Automotive Chips and battery cells have become the two most important components in the age of electric and autonomous vehicles, forcing European carmakers to rely on […]

Business

Volkswagen, Bosch to cooperate on automotive software – Handelsblatt

Volkswagen’s (VOWG_p.DE) software unit Cariad and automotive supplier Bosch (ROBG.UL) are nearing an agreement to cooperate on automotive software, Handelsblatt reported, citing company sources. Volkswagen plans to invest a triple-digit million euro amount as part of the deal, the paper added. Volkswagen has bundled all its software efforts into Cariad, hoping it can challenge Tesla […]

Business

Chinese developer Fantasia denies creditor claim on unit’s shares

Chinese developer Fantasia Holdings (1777.HK) denied a claim by a creditor that a $96.98 million loan on which it missed a payment was secured by shares in its property management unit. TFI Securities and Futures Ltd told Fantasia it was entitled to enforce the charge of 780 million shares in the unit, Colour Life Services […]

Business

Malaysia charges Dyson supplier ATA with labour law violations

Malaysia has charged Dyson supplier ATA IMS (ATAI.KL) with four violations of labour law on accommodation for workers as it investigates complaints of forced labour, authorities said on Saturday. The step comes after British home appliance maker Dyson said last month it was severing relations with ATA, and ending its contract within six months, after […]