City traders want a 9-to-4 exchange

Traders at European exchanges are lobbying for a cut in trading hours to improve wellbeing, market efficiency and work-life balance. The Association for Financial Markets in Europe (AFME) and Investment Association are calling for a reduction in trading hours - for example, 0900 to 1600 instead of 0800 to 1630. US exchanges are open for six and a half hours, and Asian exchanges for six.

The AFME says it has been addressing stock exchanges in London, Paris, Germany and the Nordic region. The reduction in working hours is intended "to improve culture, diversity and wellbeing on trading floors and create more efficient markets." The London Stock Exchange said "We intend to consider the request in a formal consultation."

Commerzbank quarterly profit up by a third - but full-year profit drop expected

Germany's Commerzbank has posted a 35 percent jump in its quarterly net profit - but also warned that its full-year profit would be lower than last year's. Net profit in the third quarter was $325.1m, up from last year's $241.5m.

However, the state-backed bank noted that a weaker global economy, trade wars and eurozone monetary policy would mean annual profit would be lower than in 2018. The lender is also cutting staff and selling mBank in Poland.

Heineken ditches plastic 

Beer-maker Heineken is beginning to ditch single-use plastic rings and shrink wrap from its multipack cans and replacing them with recyclable cardboard. Having invested $28m in new technology, the Dutch company will start to roll out the replacement in the UK, where it produces 530m cans per year.

The first brands to receive the cardboard "toppers" will be Heineken, Foster's and Kronenbourg, from April 2020. The new multipacks will be rolled out to all Heineken's other brands, including Red Stripe, Strongbow and John Smith's, by the end of 2021. 

Siemens beats Q4 forecasts but predicts tough 2020

Siemens has beaten analyst expectations to post a 20 percent rise in fourth-quarter profits, but has also warned of a tough 2020 to come. The German giant's industrial operating profit rose by 20 percent to $2.92bn in July to September, against expectations of $2.58bn.

However, that was due to a significant increase in large orders, which Siemens fears may not be repeated. The Munich-based multinational expects the global economy to weaken, notably affecting its short-cycle products for the automotive and machinery industries.

Aston Martin swings from $4m profit to $17.3m loss

Luxury car maker Aston Martin Lagonda has blamed a tough European market for a plunge from profit to loss. The firm posted a $17.3m loss for the three months ending in September, down from a $4m profit the year before. Revenues slumped 11 percent to $321.7m, with production volume down 16 percent to 1,497 cars. 

Aston Martin has had a trying time since floating last October: its shares fell from £19 at launch to hover between £4 and £5 for the last few months. This September, the marque was forced to borrow $150m at 12 percent interest in order to firm up its finances.