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Nestle sales beat forecast after price hikes
Nestle sales beat forecast after price hikes
by  AFP

Swiss food giant Nestle reported better-than-expected annual sales on Thursday, boosting its shares after the maker of Nescafe coffee, KitKat chocolate and Purina dog food hiked prices to offset inflation. Consumers turned to cheaper products as Nestle raised prices to cope with inflation.

Germany's Commerzbank to cut jobs to fight off UniCredit
Germany's Commerzbank to cut jobs to fight off UniCredit
by  AFP

German lender Commerzbank said Thursday it plans to cut about 3,900 jobs, around 10 percent of its workforce, seeking to fight off pressure for a tie-up from Italian bank UniCredit. It has since boosted its holding in the German bank to around 28 percent.

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