Samsung, Airbus, VW: Business news in brief on Thursday April 28

Airbus profit hit in 'challenging year'; Samsung’s sales have the edge on Apple

Samsung Electronics, the world’s largest smartphone maker, has recorded better than expected first quarteprofits thanks to strong Galaxy 7 sales (JUNG YEON-JE/AFP/Getty Images)

More needed to make steel pay, says Tata boss

Bimlendra Jha, the head of Tata Steel UK has cast further doubt over the future of the Port Talbot steel plant in Wales and said the Government would probably have to do more to help the firm find a buyer. Bimlendra Jha said there were “structural disadvantages” in the steel industry which made production unprofitable. He said there is no deadline for a sale of the assets, which include its huge Port Talbot plant.

Airbus profit hit in 'challenging year'

Airbus said Thursday it is facing a “challenging year” as it reported lower profits and warned of mounting costs on its A400M military aircraft and delays to its A350 and A320neo airliners. The world's second largest aircraft maker reported a 23 per cent fall in first quarter operating profits to €501 million ($568m; £390m). The company said problems discovered with the engine propeller gearbox on the long-troubled A400M could have a “significant” financial impact that is still being evaluated.

VW to pay senior executives £49m

Volkswagen, Europe's largest car manufacturer, said on Thursday that it plans to pay twelve members of its management team almost €63.4 million (£49m) for 2015 despite the company posting record losses in the wake of its global emissions scandal. Last year VW admitted to cheating on diesel emissions tests, with net losses for 2015 reaching €5.5bn.

Samsung’s sales have the edge on Apple

Samsung Electronics, the world’s largest smartphone maker, has recorded better than expected first quarter profits, the company said on Thursday. Sales were 14 per cent up at 5.3tn won (£3.2bn) thanks to strong Galaxy phone sales. The new Galaxy 7 model boasts an improved camera, waterproofing and microSD storage support. The result comes after a disappointing year that saw Samsung lose more than $8 billion in market value. Apple meanwhile saw a year-on-year decline in iPhone sales for the first time on Tuesday.