Coca-Cola HBC Q3 sales rises on volume growth in new markets

Businessam StaffNovember 10, 2017

Drinks maker, Coca-Cola HBC, reported
 higher third-quarter sales Thursday, helped by volume growth in developing and emerging markets and a hot summer in southern Europe. The company, which sells Coca-Cola drinks in 28 countries mostly in Europe and Asia, reported sales grew five percent in the quarter volume rose 3.4 percent. On a currency neutral […]

Lamborghini unveils a self-healing, electric supercar

Businessam StaffNovember 9, 2017

The next generation of Lamborghinis could act as their own super-powered batteries and be able to repair themselves. Automobili Lamborghini Spa unveiled its Terzo Millennio (“third millennium”) concept car at the EmTech conference in Cambridge, Mass., on Monday. The car is the product of the first 12 months of a three-year partnership between the automaker and the […]

Fidelity Bank rewards loyal customers at Lagos fair

Businessam StaffNovember 8, 2017

Fidelity Bank Plc is rewarding loyal customers at the ongoing 2017 Lagos International Trade Fair holding at the Tafawa Balewa Square (TBS), Lagos. As part of the financial institution’s ongoing loyalty scheme for its retail customers, 10 lucky beneficiaries – 5 FPSS account holders and 5 SWEETA account holders – will be presented with cheques […]

Qatar Air headed for annual loss amid Saudi blockade, CEO warns

Businessam StaffNovember 7, 2017

Qatar Airways is headed for an annual loss after a Saudi-led blockade of its home nation forced the scrapping of some routes and the diversion of others. The second-biggest Persian Gulf carrier expects to post a loss this year, though it’s too early to say how big the deficit will be, Akbar Al Baker, Chief Executive […]

Sprint, T-Mobile deal collapses

Businessam StaffNovember 6, 2017

SoftBank Group Corp.’s talks to merge U.S. unit Sprint Corp. with T-Mobile US Inc. ended after months of negotiations, dashing investors’ hopes for a wireless megamerger and signaling that unlimited data plans and heavy price discounting among U.S. carriers will continue. SoftBank Chief Executive Officer Masayoshi Son and Tim Hoettges, CEO of T-Mobile parent Deutsche […]

Oil rebound drives shell to booming profits

Businessam StaffNovember 2, 2017

Ben van Beurden, Shell’s chief executive

Royal Dutch Shell became the latest major oil company to deliver better than expected earnings in recent months as the market recovery begins to gain traction. The Anglo-Dutch oil giant reported $4.1bn (£3bn) in earnings for the last quarter on a current cost of supply basis, its standard measure of profitability. The sum comes in […]

Ferrari raises 2017 earnings target on limited-edition supercars

Businessam StaffNovember 2, 2017

Ferrari NV raised its 2017 profit target as rollouts of limited-edition supercars, including the FXX K Evo racing model unveiled last week, help the Italian automaker achieve a long-held goal two years early. Adjusted earnings before interest, taxes, depreciation, and amortization will total about 1 billion euros ($1.63 billion), the Maranello-based manufacturer said Thursday in […]

Facebook’s advertising revenue soars above $10bn, boosting profit

Businessam StaffNovember 2, 2017

Facebook’s quarterly profit jumped as the tech giant revealed larger than expected advertising growth amid controversy over Russia-linked content that appeared on its platform. Total revenue rose 47 percent to$10.3bn (£7.8bn) due to a 49 percent rise in advertising sales to $10.1bn in the quarter to the end of September – that beat analysts’ expectations of $9.7bn, according to FactSet. Facebook said […]