Business News
For a few dollars more: global funds take on FX risk
By Saikat Chatterjee, Hideyuki Sano and Gertrude Chavez-Dreyfuss
Year: 2019
Business News
California governor says broad power shutdown to prevent fires ‘unacceptable’
California Governor Gavin Newsom called a widespread electricity shutdown triggered by a power company to prevent wildfires “unacceptable”, as gale-force winds and dry weather posed a critical fire threat to the north of the state.
Business News
SAP reverts to co-CEOs after showman McDermott’s decade of growth
Bill McDermott stood down on Friday after a decade building up SAP as the world’s leading enterprise software company, handing the task of completing its transition to cloud computing to new co-CEOs Jennifer Morgan and Christian Klein.
Business News
Ford’s third-quarter China vehicle sales down 30.3% year-on-year to 131,060
Ford Motor Co’s July-to-September vehicle sales in China fell 30%, as the U.S. automaker continues to lose ground in a prolonged sales decline in its second biggest market.
Business News
Hyundai Motor, Kia Motors agree to settle U.S. engine defect lawsuits
South Korea’s Hyundai Motor Co and affiliate Kia Motors Corp on Friday said they have agreed to resolve class action litigation with U.S. owners of certain vehicles over engine fire risks.
Business News
FAA failed to properly review 737 MAX jet anti-stall system: JATR findings
An international panel of air safety regulators on Friday harshly criticized the U.S. Federal Aviation Administration’s (FAA) review of a safety system on Boeing Co’s 737 MAX jet that was later tied to two crashes that killed 346 people.
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UPDATE 1-FAA failed to properly review 737 MAX jet anti-stall system – JATR findings
WASHINGTON/SINGAPORE, Oct 11 (Reuters) – An international panel of air safety regulators on Friday harshly criticized the U.S. Federal Aviation Administration’s (FAA) review of a safety system on Boeing Co’s 737 MAX jet that was later tied to two crashes that killed 346 people. The Joint Authorities Technical Review (JATR) was commissioned by the FAA in April to look into the agency’s oversight and approval of the so-called MCAS anti-stall system before the fatal crashes. “The JATR team found that the MCAS was not evaluated as a complete and integrated function in the certification documents that were submitted …read more […]
Business News
Oil prices jumps 2% after Iranian oil tanker explosion raises supply concerns
Oil prices jumped by 2% on Friday after Iranian news agencies said a state-owned oil tanker was struck by two missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions from a crucial producing region.
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REFILE-Bain and Carlyle among bidders for Japan's Hitachi Chemical -sources
Japan’s Hitachi Ltd has narrowed suitors for its $6.8 billion chemical unit to a handful of companies including Bain Capital, Japan Industrial Partners and Nitto Denko Corp, four people with knowledge of the deal said. Shortlisted bidders for Hitachi Chemical Co also include U.S. private equity fund Carlyle Group L.P., three of the people said. Bain, the U.S. buyout fund, is teaming up with Tokyo-based private equity firm Japan Industrial Partners, the three said. …read more […]
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Oil prices rise after Iran oil tanker explosion
The tanker was traveling through the Red Sea near Saudi Arabia on Friday, Iranian media reported. …read more […]
Business News
Hyundai Motor, Kia Motors settle U.S. lawsuit over engine defects
South Korea’s Hyundai Motor and Kia Motors agreed to resolve class action litigation with U.S. owners of certain vehicles equipped with Theta II gasoline direct injection (GDI) engines, the companies said on Friday.
Business News
Asian shares jump on ‘very good’ trade talks, pound edges up
Asian shares jumped on Friday after U.S. President Donald Trump said he would meet with China’s top trade negotiator, stirring hopes for an agreement, while sterling resumed its climb amid optimism over a possible Brexit deal.
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Iran Oil Tanker Catches Fire After Red Sea Explosion: IRNA
(Bloomberg) — A National Iranian Oil Company tanker caught fire after an explosion in the Red Sea near the Saudi Arabian port of Jeddah, the Islamic Republic News Agency reported, citing the company’s press office.Oil prices extended gains after the report, which comes amid heightened tensions in the Middle East following drone strikes on a key Saudi Arabian oil facility last month. The explosion is likely an act of terrorism, according to the Islamic Student’s News Agency, an arm of the Islamic Revolutionary Guard Corps, which cited unnamed experts. The Saudi government’s Center for International Communication did not immediately respond …read more […]
Business News
SAP to rely on strategy of continuity, new co-CEO tells broadcaster
Christian Klein, SAP’s new co-chief executive, told Germany’s’ n-tv television that the software and cloud computing giant will rely on a strategy of continuity following the departure of Bill McDermott.
Business News
For a few dollars more: global funds take on FX risk
By Saikat Chatterjee, Hideyuki Sano and Gertrude Chavez-Dreyfuss