Sainsbury’s has picked retail and operations director Simon Roberts to succeed CEO Mike Coupe, the architect of the British supermarket group’s failed bid for rival Asda who will step down in May after six years at the helm.
Oilfield services provider Baker Hughes Co missed analysts’ estimates for quarterly profit on Wednesday, hit by lower orders in its business that supplies turbines and compressors to liquefied natural gas (LNG) producers.
Abbott Laboratories Inc reported a 60% rise in fourth-quarter profit on Wednesday, boosted by strong sales of its diabetes and heart devices.
U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said.
Most Wall Street banks announced their fourth quarter profits beat industry expectations last week. But by the end of this week, bank sources and compensation experts told Reuters, most of their staff will be underwhelmed by their bonuses.
Johnson & Johnson narrowly missed quarterly revenue estimates on Wednesday as sales of its blockbuster psoriasis medicine Stelara and cancer drug Imbruvica fell short of expectations.
Oil prices fell on Wednesday as a market surplus forecast by the International Energy Agency (IEA) outweighed concern over disruptions to Libya’s crude output.
Boeing Co said on Tuesday it does not expect to win approval for the return of the 737 MAX to service until mid-year due to further potential developments in the certification process and regulatory scrutiny on its flight control system.
EU countries can restrict or exclude high-risk 5G providers from core parts of their telecoms network infrastructure under new guidelines to be issued by the European Commission next week, people familiar with the matter said on Wednesday. The non-binding recommendations are part of a set of measures aimed at addressing cybersecurity risks at national and bloc-wide level, in particular concerns related to world No. 1 player Huawei Technologies. The guidelines do not identify any particular country or company, the people said. …read more […]
U.S. President Donald Trump on Wednesday threatened to impose high tariffs on imports of cars from the European Union if the bloc doesn’t agree to a trade deal.
Airline flydubai, a major Boeing 737 MAX customer, is considering leasing additional aircraft following the latest setback to the grounded jet’s return to service.
Renault Chairman Jean-Dominique Senard said Wednesday he hoped the decision on the French carmaker’s new CEO would be made in “the coming days”.
Elliott Management sold all its shares in Hyundai Motor Group companies last year, a South Korean newspaper reported on Wednesday, after the U.S. activist hedge fund’s campaign demanding 7 trillion won ($6 billion) in dividends and board seats was thwarted in March.
Canadian prosecutors are expected to defend on Wednesday their case to extradite Huawei Chief Financial Officer Meng Wanzhou to the United States saying Meng was arrested on charges of bank fraud, which is a crime in both countries, and not because of U.S. sanctions against Iran as argued by the defense.
Britain’s impending decision on whether to allow Huawei [HWT.UL] to supply equipment for 5G mobile networks comes at a delicate time, with debate raging in European capitals over the security implications of reliance on Chinese technology.
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