Business News
Renault names Delbos as interim CEO to replace Bollore
French carmaker Renault on Friday named Clotilde Delbos at interim chief executive after ending the tenure of Thierry Bollore following a boardroom vote.
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Business News
Shares bask in ‘very good’ U.S-China trade talks and Brexit deal hopes
World shares on Friday basked in optimism for a detente in the U.S.-China trade war and hopes that Britain was moving closer to a smooth exit from the European Union.
Business News
Oil posts biggest gain in a month after reports of Iranian tanker attack
Oil prices jumped more than 2% on Friday after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.
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Dark Shops, Spotty Phones, Rotting Fish: Life in a Mass Blackout
(Bloomberg) — The first thing you notice is clearly the darkness.I was showering late Wednesday, shampoo in my eyes and American Horror Story playing on my phone so loud that my husband couldn’t hear my shouts for a light. I had just become one of the millions of people to have lost power in the biggest orchestrated blackout in California history, and here I was excited about the ocean breeze-scented candle I had bought a day earlier — because flashlights were sold out, and it was that or orange ginger.Other thoughts that ran through my mind: “It’s a good thing …read more […]
Business News
Hyundai, Kia earmark $760 million to settle U.S. lawsuits over engine fires
Hyundai Motor Co and affiliate Kia Motors Corp have earmarked a total of 900 billion won ($757.86 million) to settle U.S. class action litigation and address engine-related issues in the United States and South Korea.
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EU's Tusk Sees `Promising' Signals for a Deal: Brexit Update
(Bloomberg) — Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.European Council President Donald Tusk said he has received “promising signals” that a Brexit deal is possible, after the leaders of the U.K. and Ireland said they could see a pathway to a potential agreement.Michel Barnier and Steve Barclay, the senior European and British negotiators, are meeting in Brussels in an attempt to capitalize on the brighter mood. If officials enter the so-called “tunnel,” a process in which the two sides discuss drafts of legal text in secret, it will be the first time line-by-line …read more […]
Business News
With U.S. tariffs looming, China drums up hope for a partial trade deal
A Chinese state newspaper said on Friday that a “partial” trade deal would benefit China and the United States, and Washington should take the offer on the table, reflecting Beijing’s aim of cooling the row before more U.S. tariffs kick in.
Business News
Renault board votes to oust Thierry Bollore as CEO: sources
The board of French carmaker Renault on Friday voted in favor of ousting Thierry Bollore as CEO, said two sources familiar with the matter.
Business News
Burning trash sparked wildfire that destroyed dozens of homes in California: fire department
Burning trash dumped by a garbage truck caused a fire that by early Friday had destroyed dozens of homes in California’s Riverside County, fire officials said, as wildfires across the state led to power cuts for hundreds of thousands of people.
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Tencent Gets ‘Wakeup Call’ From China’s Assertions of Patriotism
(Bloomberg) — Tencent Holdings Ltd. can’t get a break.The National Basketball Association, Activision Blizzard Inc. and now one of its most important portfolio companies, Fortnite proprietor Epic Games Inc., have all sparked political controversy at a time of increasingly assertive Chinese nationalism online.A tweet by an NBA executive expressing support for Hong Kong protesters drew the ire of Beijing, throwing into question the billions Tencent has invested in the U.S. sports league. Then Blizzard, partly owned by Tencent, banned a gamer for endorsing Hong Kong’s pro-democracy movement, triggering a boycott of the company’s games for its apparent kowtowing to China. …read more […]
Business News
For a few dollars more: global funds take on FX risk
By Saikat Chatterjee, Hideyuki Sano and Gertrude Chavez-Dreyfuss
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.