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William Hill names DS Smith’s Adrian Marsh as CFO
British bookmaker William Hill on Monday named cardboard maker DS Smith’s Chief Financial Officer Adrian Marsh as its finance head.
Year: 2020
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U.S. firms in China report staff shortages, say coronavirus hitting global operations: AmCham
Nearly half of the U.S. companies in China say their global operations are already seeing an impact from business shutdowns due to the coronavirus epidemic, according to a poll by Shanghai’s American Chamber of Commerce (AmCham).
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Tesla Berlin Factory Risks Months-Long Legal Delay Over Wildlife
(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Elon Musk’s first electric car plant in Europe is facing legal delays that could set the project back by several months after a court said clearing a forest near Berlin for the Tesla Inc. factory must stop immediately while it considers a challenge by environmentalists.The Berlin-Brandenburg higher administrative court issued a temporary injunction against further logging, overturning a lower court ruling that had rejected a request by environmental group Gruene Liga Brandenburg. The group is seeking to prevent Tesla from clearing more …read more […]
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Masayoshi Son’s Other Big Real Estate Bet Has Some Real Problems
(Bloomberg) — Last March, months before the meltdown at WeWork, Masayoshi Son worked through the prospects for another one of his favorite portfolio companies — a startup from India called Oyo. In a spacious conference hall at his Tokyo headquarters, the Japanese billionaire huddled with lieutenants from the startup and his own SoftBank Group Corp. to brainstorm strategy. He figured Oyo had the potential to disrupt both the staid hotel business and short-term apartment rentals in Japan, according to people in the room.One bullet point scribbled on a floor-to-ceiling whiteboard, in particular, caught Son’s eye: a target of one million …read more […]
Business News
Japan on brink of recession as economy contracts, virus heightens risk
Japan’s economy shrank at the fastest pace in almost six years in the December quarter as a sales tax hike hit consumer and business spending, raising the risk of a recession as China’s coronavirus outbreak chills global activity.
Business News
GM shuts Australia, NZ operations; sells Thai plant to Great Wall
General Motors Co said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest restructuring of its global business, costing the U.S. auto maker $1.1 billion.
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Alstom confirms talks underway to buy Bombardier Transportation
French transport infrastructure company Alstom said on Monday it was in talks over a possible acquisition of the train business of Canadian company Bombardier , which could be worth $7 billion on an enterprise value basis.
Business News
NMC Health founder Shetty resigns as turmoil deepens
NMC Health said on Monday its founder BR Shetty had resigned as the Emirati healthcare group’s joint non-executive chairman, leaving UK businessman H.J. Mark Tompkins as sole chairman.
Business News
NMC Health founder and co-chair Shetty resigns
NMC Health said on Monday its founder B.R. Shetty has resigned as the Emirati healthcare group’s joint non-executive chairman and H.J. Mark Tompkins will now continue as the sole chairman.
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NMC Health founder Shetty resigns as turmoil deepens
NMC, the United Arab Emirates’ largest private healthcare company, has been thrown into turmoil in the past month by doubts over its finances and the reporting of shareholdings of some its main owners including Shetty. Indian billionaire Shetty had already said last week he was “stepping back” from board duties after he informed NMC of a potentially inaccurate reporting of his holdings and began a legal review. …read more […]
Business News
Asian shares near three-week highs on Chinese support measures; Japan skids
Asian shares reversed losses on Monday and moved back toward a three-week top as China’s persistent efforts to cushion the blow from a coronavirus outbreak calmed nervous investors, although Japanese stocks faltered on growing recession risks.
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Virus Turns Thai Firm Into World’s Top Asset Manager Stock
(Bloomberg) — Thailand’s biggest manager of distressed assets has become the world’s top performer among peers this year partly because the novel coronavirus outbreak is wreaking havoc on the nation’s economy.Shares of Bangkok Commercial Asset Management Pcl — known as BAM — have surged 74% this year, and the firm has delivered the highest total return in the period among asset management companies with a market value of at least $1 billion, according to data compiled by Bloomberg. The stock has almost doubled since its listing in December, when the Bank of Thailand more than halved its stake.Investors are betting …read more […]
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BOJ’s Kuroda flags more easing if virus impact worsens: Sankei
Bank of Japan Governor Haruhiko Kuroda said the central bank would consider additional rapid easing if the coronavirus outbreak significantly threatened Japan’s economy and price trends, the Sankei newspaper reported on Monday.
Business News
Dubai’s DP World to delist, return to full state ownership
Dubai’s DP World , one of the world’s largest port operators, said on Monday it would delist and return to full state ownership in a deal valuing the company at $13.9 billion.