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Bloomberg PSA Peugeot Citroen will set new growth goals after cost-cutting and recovering demand in Europe helped the French automaker beat targets set two years ago following a bailout. Automotive operating profit last year was 5 percent of revenue, far exceeding a 2 percent margin goal for 2018, the company said in a statement Wednesday. Free cash flow was almost ...

Bloomberg Germany’s 30-year government bonds advanced for a fifth day, reducing the extra yield they offer over shorter maturities, known as flattening the yield curve, as the nation prepared to auction debt due in July 2044 on Wednesday. German bonds rose as European stocks declined with sliding oil prices prompting investors’ demand for safer assets. With the average yield on ...

Toulouse / Bloomberg Airbus Group said on Wednesday its net profits climbed 15 percent last year and predicted deliveries of more than 650 aircraft in 2016 and a rise in orders to record levels. The France-based European aerospace group chalked up a net profit of 2.7 billion euros ($3.0 billion), with sales up 6.0 percent to 64 billion euros. Orders ...

Sydney / AFP Shopping centre giant Westfield on Wednesday recorded a US$2.3 billion net profit supported by healthy income growth for its US and British assets, as it flagged an August opening for its fully leased World Trade Center development. The Australian-listed company is reporting its first full-year result for the 12 months to December 31, 2015 since spinning off ...

Chicago / Bloomberg Boeing Co. expects China’s domestic freight market to surge in the next two decades and said it will offer conversions for its bestselling 737 passenger jets into cargo planes. The Chicago-based planemaker won 30 confirmed orders and 25 commitments from seven customers for the converted 737, Boeing said in a statement on Wednesday. The aircraft will be ...

NEW YORK / AP Macy’s wrapped up a weak fiscal year on an encouraging note, but the nation’s largest department store retailer still sees challenges ahead. Macy’s, which also operates Bloomingdale’s stores, reported a 31 percent decline in fourth-quarter profits, dragged down by store closings and other costs. But the adjusted results beat Wall Street estimates and sales picked up ...

Bloomberg Wesfarmers Ltd. posted a 1.2 percent increase in first-half profit and created a new department stores division as the nation’s largest retailer seeks to trim costs. Net income was A$1.39 billion ($1 billion) in the six months ended December 31, up from A$1.38 billion, the Perth, Western Australia-based company said in a regulatory statement Wednesday. That compared with expectations ...

CAPE TOWN / Bloomberg South Africa is considering merging two state-owned airlines and selling off a stake in the enlarged carrier to private investors, Finance Minister Pravin Gordhan said. The government will “explore the possibility of merging South African Airways (SAA) and SA Express, under a strengthened board, with a view to engaging with a potential minority equity partner,” Gordhan said ...

AFP UK-based construction and support services company Interserve has reported positive results from its construction activities in the GCC region. “Volumes are up, margins are steady, and order book is growing,” says Adrian Ringrose, CEO, Interserve speaking at the company’s half year results briefing on 24 February. “We are busy in in the region,” says Ringrose. “In terms of manpower ...

Atlanta / Bloomberg Home Depot Inc. posted fourth-quarter profit that topped analysts’ estimates and projected that its robust sales growth would continue this year, with consumers showing no signs of pulling back on renovations and projects. Profit in the quarter through Jan. 31 rose to $1.17 a share, the Atlanta-based company said Tuesday in a statement. Analysts estimated $1.10, on ...