Bloomberg Renault reported third-quarter revenue that beat estimates, partly fuelled by a surge in sales of its popular electric model that the carmaker said will allow it to meet European emissions rules. Although revenue falls 8.2% to 10.37 billion euros in a period still marked by the pandemic, it surpassed the 9.96 billion-euro average of estimates compiled by Bloomberg. The …

Bloomberg Mercedes-Benz, which has fixated for years on leading the auto industry in luxury-vehicle sales, will put less emphasis on volume and restructure its operations to be more profitable in the midst of a costly shift to electric cars. Daimler AG’s main division will aim for a return on sales in the mid to high single-digit range by 2025, even …

Bloomberg Oil dropped after an industry report pointed to a surprise increase in American crude stockpiles, countering optimism over a potential US stimulus agreement. The American Petroleum Institute (API) reported crude inventories climbed by almost 600,000 barrels last week, according to people familiar with the data. That contrasts with a stockpile decline forecast in a Bloomberg survey. Brent crude futures were …

Bloomberg Iberdrola SA agreed to buy PNM Resources Inc for $4.3 billion, pushing deeper into the US power market as the Spanish utility strengthens its position as a global giant in an industry that’s being transformed. The deal — at $50.30 per PNM share and a 10% premium — valued PNM at $8.3 billion including debt. It’s Iberdrola’s eighth acquisition …

Bloomberg Hindustan Unilever Ltd, Asia’s biggest maker of personal care products by market value, reported a 16% gain in revenue, signaling that demand in India may be reviving after an unprecedented economic contraction in the June quarter. Revenue at the local unit of Unilever Plc rose to 112.8 billion rupees ($1.5 billion), the biggest jump since December 2011. Net income …

Bloomberg Bulgari is increasing its focus on sales to locals in the countries where it operates, particularly in China, as the pandemic wipes out the tourist market, Chief Executive Officer Jean-Christophe Babin said. The LVMH-owned jeweller is seeing single-digit domestic sales growth in the western world and high double-digit growth in Asian countries, Babin said in an interview in Rome, …

Bloomberg Lowe’s Cos isn’t known as much of a Christmas destination, but the retailer wants to change that by adding more playthings and gifts. The Mooresville, North Carolina-based chain will sell items like electric scooters, trampolines, backyard movie screens and Ninja air fryers. The majority of these new products will be available online and in select stores. Sales at Lowe’s …

Bloomberg Southwest Airlines Co and American Airlines Group Inc have scrapped their annual staff Halloween parties because of the coronavirus pandemic, suspending revered traditions amid an unprecedented industry slump. “You all know Halloween celebrations will look differently this year,” Southwest CEO Gary Kelly said in his weekly message to employees. “Please remember to wear your masks while having fun with one …

Bloomberg Singapore Airlines Ltd will restart 19-hour non-stop flights to New York next month, betting that demand will recover as the coronavirus pandemic eases in its home country. The airline will use its Airbus SE A350 aircraft for the world’s longest flight, with three weekly services starting from November 9 from Changi Airport to John F Kennedy International, according to …

Bloomberg British Airways is planning to cut the number of flights it operates from London Gatwickas the coronavirus pandemic continues to slam the travel industry, the Mail reported. The carrier aims to shift business to Heathrow — Britain’s largest airport — where it will counter falling demand for business travel by boosting premium leisure flights to long-haul holiday destinations, the …