Corporate results:
  • Berkshire Hathaway reported Q2 operating profit of $10.04 billion, thanks to its insurance business and divestments.
  • PageGroup maintained its annual guidance and declares a special dividend.
  • PostNL revised its profit forecasts upwards thanks to strong parcel demand.
  • Scout24 raised its annual targets following the acquisition of Sprengnetter.
  • Siemens Energy still records provisions (€2.2 bn, but analysts generally expected worse) for problems with wind turbines and fears an annual net loss of €4.5 bn.
In other news:
  • International Consolidated Airlines has agreed a 13% pay rise for 24,000 employees, according to the Financial Times.
  • Icahn Enterprise said on Friday it had been contacted by the Securities and Exchange Commission, the US stock exchange regulator, which is seeking information on the company.
  • UBS will lay off 80% of Credit Suisse's Hong Kong investment banking staff.
  • KKR will buy German satellite operator OHB at EUR 44 per share, in a negotiated transaction (the share was quoted at EUR 32.15 on Friday).
  • Ericsson sued by shareholders in Sweden for $170 million.
  • Rio Tinto plans to increase copper production in response to rising global demand.
  • Ticket sales for Warner Bros' "Barbie" exceed $1 billion.
  • Sika acquires Peruvian Chema.
  • Yellow fell by 25% before the opening after the trucking company filed for Chapter 11 bankruptcy protection.
  • Daimler Truck CFO Jochen Goetz dies in a "tragic accident".
  • Moody's upgrades Nexi's credit rating from "Ba2" to "Ba1".