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(MENAFN - AFP) More unexpected costs in its huge refueling tanker program for the US Air Force and slower commercial aircraft deliveries dented Boeing's first-quarter earnings, the company reported Wednesday.

Boeing took a $156 million charge for unanticipated costs in the KC-46 program, pushing earnings for the quarter ending March 31 down 8.8 percent from a year ago to ...

 
(MENAFN - AFP) Swedish carmaker Volvo on Wednesday announced it would give self-driving cars to people to test on the streets of London in 2017.

Initially, the so-called autonomous driving (AD) cars would be semi-autonomous with plans to test a more advanced driverless version in 2018, the company said in a statement.

"Drive Me London will begin in early 2017 with ...

 
(MENAFN - AFP) Greek Prime Minister Alexis Tsipras on Wednesday sought help from the European Union to break a deadlock in critical debt talks as as his spokeswoman accused the IMF of "undermining" the process.

Tsipras' office said the leftist premier had asked EU President Donald Tusk to call a summit to help facilitate negotiations with the debt-ridden country's creditors.

The ...

 
(MENAFN - AFP) One of the world's biggest private art collections is to be housed in a new Paris museum within a stone's throw of the Louvre, a French billionaire said Wednesday.

Francois Pinault, the luxury goods mogul who also owns the auction house Christie's, is taking over the Bourse de Commerce in the centre of the French capital to show his 1.4-billion-dollar (1.2-billion-euro) ...

 
(MENAFN - AFP) British drugmaker GlaxoSmithKline announced Wednesday that net profits collapsed in the first quarter, after failing to repeat an exceptional gain earned one year earlier.

Earnings after tax nosedived by 97 percent to £282 million ($410 million, 363 million euros) in the three months to the end of March, GSK said in a result statement.

That compared ...

 
(MENAFN - AFP) Germany will subsidise electric car purchases to give a jolt to sluggish growth in the sector and help meet national climate goals with zero-emission mobility, the government said Wednesday.

Car buyers will receive 4,000 euros ($4,500) when they choose a purely electric vehicle and 3,000 euros for a plug-in hybrid, with the cost shared 50-50 between the public ...

 
(MENAFN - AFP) Boeing reported lower first-quarter earnings and missed analyst expectations Wednesday after announcing a charge of unanticipated costs of $156 million for building its KC-46 military aircraft.

Earnings for the quarter ending March 31 were $1.2 billion, down 8.8 percent from the same period a year ago. That translated into $1.74 per share, nine cents below ...

 
(MENAFN - AFP) French oil giant Total on Wednesday unveiled first quarter net profits down 40 percent on lower oil prices yet better than forecast on higher production and cost cuts.

Net income fell to $1.6 billion (1.4 billion euros), better than the $1.2 billion consensus of a panel of analysts consulted by Bloomberg albeit down from $2.66 billion for the same period last ...

 
(MENAFN - AFP) The head of crisis-hit Mitsubishi Motors said Wednesday that sales in Japan have fallen off a cliff since the company admitted last week that it has been cheating on fuel-efficiency tests.

Tetsuro Aikawa, the automaker's president, revealed that orders have dropped by almost half since the scandal erupted, as the crisis takes a toll on the company's reputation.

"It's ...

 
(MENAFN - AFP) Venezuela's government has announced enforced leave for public sector employees three workdays a week, in a bid to tackle an electricity shortage that is causing power cuts and protests.

"There will be no work in the public sector on Wednesdays, Thursdays and Fridays, except for fundamental and necessary tasks," Vice President Aristobulo Isturiz said on television ...

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