News Highlights: Top Company News of the Day
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Fiat Chrysler and Peugeot Owner PSA Agree to Merge
Fiat Chrysler Automobiles and Peugeot maker PSA Group of France agreed to merge in a deal that would create one of the world's largest auto makers by volume with a market value of $48.4 billion.
Shell Earnings Beat Forecasts
Shell said its earnings rose to $6.08 billion in the third quarter as stronger contributions from liquefied natural gas and oil products trading helped offset weaker energy prices.
Samsung's Earnings Fall Sharply
Samsung Electronics' third-quarter net profit fell sharply, pressured by a downturn in the memory-chip market, despite growth at its mobile and display businesses.
Rio Tinto Trims Capex Guidance
Rio Tinto trimmed its capital expenditure guidance for 2019 by around $500 million and said it could record $10 billion in full-year free cash flow at present commodity prices.
IAG Profit Hit by Strikes
British Airways owner, IAG, said its pretax profit fell 8.8% to EUR1.26 billion in the third quarter, blaming industrial action by pilots and other disruptions for the drop.
BNP Paribas Profit Falls But Above Forecast
BNP Paribas reported an 8% fall in third-quarter net profit from a year earlier, when results included a one-off capital gain, with the investment banking business performing strongly.
Sanofi Sales Rise Ahead of Forecasts
Sanofi said that its third quarter net profit fell after it booked a large sale in the same period last year, but its sales ticked 1.1% higher, narrowly beating analysts' forecasts.
Air France-KLM Profit Slides in Challenging Market
Air France-KLM said its net profit for the third quarter fell sharply to EUR366 million as it faced geopolitical uncertainties and a softening macroeconomic environment.
Apple Revenue Rises Even as iPhone Sales Decline
Apple again showed it can deliver growth even while its bedrock iPhone business declines. The tech giant reported revenue rose 1.8% in the September quarter to $64.04 billion behind a rise in sales of wearables and services.
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