Bloomberg Daimler AG Chief Executive Officer Ola Kallenius said the maker of Mercedes-Benz cars and the industry as a whole face painful cutbacks to overcome the economic fallout of the Covid-19 pandemic. The virus outbreak will force manufacturers to do more significant restructuring than they had planned before the crisis erupted, Kallenius said during a webcast hosted by Germany’s largest ...

Bloomberg European stocks rose with US futures on Thursday as hopes for reassuring jobs data later in Washington added to momentum from positive vaccine developments. The dollar slipped. The Stoxx Europe 600 Index extended its initial gains on advances in banks and travel companies. Contracts on the S&P 500 Index also picked up, hours before the June employment report that’s ...

Bloomberg SK Biopharmaceuticals Co., a biotechnology arm of SK Group in South Korea, surged to more than double the company’s initially offered price during its trading debut in the nation’s largest first share sale in three years. The stock soared 159% from the IPO price in Seoul, boosting its market cap to 9.9 trillion won ($8.2 billion). SK Biopharmaceuticals now ...