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(MENAFN - AFP) German auto giant Volkswagen said Thursday it made 2.28 billion euros ($2.49 billion) in net profit in the third quarter, after a massive loss a year ago over its global emissions cheating scandal.

The group's profit for the three months ending September fell slightly short of the 2.45 billion euros forecast by analysts, but was a sharp improvement from the ...

(MENAFN - AFP) Japan's Fujitsu said on Thursday it was in talks to merge its struggling PC business with Chinese computer giant Lenovo, sending its shares soaring as the company also announced a recovery in profits.

The talks come as Japanese personal computer makers work to scale back their businesses as consumers shift to smartphones and tablets.

Tokyo-based Fujitsu ...

(MENAFN - AFP) British bank Barclays on Thursday said it had set aside an extra £600 million ($733 million, 672 million euros) to compensate customers mis-sold insurance, a day after rival Lloyds gave a similar update.

Barclays said the additional funds needed to cover costs linked to the long-running payment protection insurance (PPI) scandal contributed to it posting almost ...

(MENAFN - AFP) Most Asian markets turned lower for a second day Thursday, with energy firms struggling after another sell-off in oil fuelled by concerns about a planned output cut.

Crude prices are slumbering at three-month lows after OPEC member Iraq and non-member Russia suggested this week they would not take part in any limitations, despite a painful global supply glut.

Their ...

(MENAFN - AFP) Shares in Tata companies fell Thursday after the Indian giant's ousted chairman Cyrus Mistry warned it may face $18 billion in asset write-downs and accused directors of wrongfully dismissing him.

Tata Motors and Tata Power were down nearly three per cent each, while Tata Steel was nearly two per cent lower in early trade on the Bombay Stock Exchange after ...

(MENAFN - AFP) German chemicals giant BASF said Thursday its profits had fallen sharply in the third quarter, driven by divestitures in its oil and gas business.

The Ludwigshafen-based firm said it made 888 million euros ($969 million) net profit, down 27 percent but exceeding the expectations of analysts surveyed by Factset who had predicted a steeper fall to 795 million.

Sales ...

(MENAFN - AFP) The daily deals ecommerce operator Groupon will buy its rival LivingSocial for an undisclosed amount, the companies announced.

Both are pioneers of their once-hot sector -- offering daily deals via email -- but have been struggling for several years.

The deal value was not disclosed but in its latest earnings report Groupon called it "not material."

The ...

(MENAFN - AFP) Food staples like rice and milk are returning to the empty shelves of Venezuelan supermarkets after a long absence -- but who can afford those eye-popping prices

Delia Mendoza's eyes widen when she realizes that the price for half a kilo of red beans is 4,211 bolivars, or $6.40 at the highest official exchange rate. This in a country where the monthly minimum ...

(MENAFN - AFP) Troubled German lender Deutsche Bank reported Thursday a surprise 256-million-euro ($279 million) profit in the third quarter, compared with a loss of more than six billion in the same period last year.

Deutsche outdid the expectations of analysts surveyed by Factset, who had predicted it would book a loss of 949 million euros between July and September.

The ...

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