Reuters Before the Bell: Porsche to pay 535 million euro fine over diesel affair

Click to View in Browser Tuesday, May 7, 2019 Porsche to pay 535 million euro fine over diesel affair German prosecutors have imposed a fine of 535 million euros ($598.99 million) on German luxury carmaker Porsche AG for neglecting supervisory obligations linked to diesel emissions cheating, they said in a statement on Tuesday. China vice premier going to U.S. for trade talks despite Trump threats Chinese Vice Premier Liu He will visit the United States this week for trade talks, Beijing said on Tuesday, playing down a sudden increase in tension after U.S. President Donald Trump vowed to impose new tariffs. EU's Juncker say he trusts Trump on trade, needs quick U.S.-China deal The head of the EU executive said on Tuesday that U.S. President Donald Trump could be trusted on EU-U.S. trade relations and that the Sino-U.S. trade conflict needed to be resolved soon to restore investor confidence. Investments, legal charge put brakes on BMW BMW's first-quarter operating profit fell 78 percent to 589 million euros, despite higher deliveries of luxury vehicles, as the carmaker felt the effects of higher investment spending and a 1.4 billion euro ($1.6 bln) legal provision. Allergan raises profit, sales forecasts on Botox boost Allergan Plc reported a better-than-expected quarterly profit on Tuesday and raised its profit and revenue forecasts for the year, fueled by higher sales of its growth driver Botox. French tycoon Niel to sell mobile towers to Cellnex for $3 billion French tycoon Xavier Niel has agreed a 2.7 billion euro ($3.02 billion) deal to sell mobile towers in France, Italy and Switzerland to Cellnex as he seeks to bolster the finances of his telecoms group Iliad. Explainer: China changes laws in trade war with U.S., enforcement a concern China has been changing laws to address U.S. concerns about fair treatment of foreign companies, but with some vague wording and persistent concerns about enforcement, it is unclear if this will leave Washington satisfied. Ferrari tops first-quarter profit forecast, shares surge Italian luxury carmaker Ferrari beat forecasts with a 14 percent rise in first-quarter core earnings, driven by strong sales of its Portofino model and increased shipments in all regions, and stuck to its full-year targets. Futures fall on U.S.-China trade uncertainty U.S. stock index futures fell on Tuesday as uncertainty of a trade deal being reached between the United States and China kept investors on edge. Vodafone steps up fight for Liberty deal with German access offer Vodafone stepped up its battle to gain regulatory approval for its Liberty Global deal on Tuesday by offering rival Telefonica Deutschland access to its enlarged high-speed broadband network. Related Video Brewer AB InBev could float Asia business in Hong Kong European shares struggle as trade concerns weigh Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2019 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook