New Thyssenkrupp chief executive Martina Merz on Wednesday paved the way for deeper job cuts at the ailing conglomerate, telling employees in an internal memo such a step was necessary for a much-needed turnaround.
Every investor in OPKO Health, Inc. (NASDAQ:OPK) should be aware of the most powerful shareholder groups. Institutions… …read more […]
American Airlines Group Inc said Wednesday it is extending cancellations of Boeing 737 MAX flights through Jan. 15 as regulators continue to extensively review proposed software changes to the grounded plane.
American Airlines Group Inc said Wednesday it is extending cancellations of Boeing 737 MAX flights through Jan. 15 as regulators continue to extensively review proposed software changes to the grounded plane. The FAA said Wednesday it is “is following a thorough process, not a prescribed timeline, for returning the Boeing 737 Max to passenger service. The fast-selling 737 MAX has been grounded worldwide since mid-March while Boeing updates flight control software at the center of two crashes in Indonesia and Ethiopia that together killed 346 people within a span of five months. …read more […]
(Bloomberg) — The bathtub epiphany that led Warren Buffett to pump $5 billion into Bank of America Corp. after the financial crisis has been retold many times. Now, a new detail is emerging in the Wall Street fable.In an interview with Bloomberg Television, Bank of America Chief Executive Officer Brian Moynihan recalled how Buffett initially tried to reach his company with a proposal eight years ago. The legendary investor called a public phone line and was rebuffed.“He got into the call centers and asked to speak to me and of course they don’t transfer everybody who calls the call centers …read more […]
America’s largest state prison system is moving to quit the practice of farming out inmates to lockups run under contract by private companies, following a nationwide decline in the for-profit incarceration business. California Governor Gavin Newsom is expected to sign legislation this week designed to effectively ban private, for-profit corporations from running prisons or immigration detention facilities. Sponsors of the measure say it will end a brief but hapless experiment in privately outsourced incarceration begun as a means to ease overcrowding – an endeavor Newsom branded an outrage when he took office in January. …read more […]
A look at the shareholders of Annaly Capital Management, Inc. (NYSE:NLY) can tell us which group is most powerful… …read more […]
France’s Finance Minister Bruno Le Maire said proposals unveiled on Wednesday by the Organisation for Economic Cooperation and Development (OECD) for a global overhaul of digital taxation were “very good” and urged the body’s members to reach a deal early next year.
Wall Street was set to rise for the first time in three sessions on Wednesday after latest media reports eased concerns over escalating trade tensions between the United States and China, ahead of high-level trade talks starting Thursday.
Stocks gained on Wednesday as investors clung to hopes that the United States and China could yet agree some sort of trade deal, while the prospect of a last-minute Brexit agreement between the European Union and Britain seemed as remote as ever.
The Organisation for Economic Cooperation (OECD) has proposed overhauling rules for taxing cross-border corporate income to bring them into line with the digital age.
Governments will get more power to tax big multinationals like Google, Apple and Facebook doing business in their countries under a proposed overhaul of decades-old rules.
(Bloomberg) — PG&E Corp., the California utility giant forced into bankruptcy by two years of devastating wildfires, is carrying out the biggest planned blackout yet to keep power lines from sparking more blazes. Cutoffs began overnight Wednesday, with the first phase impacting about 513,000 customers.The company began cutting electricity as part of an orchestrated shutoff that will eventually plunge almost 800,000 customers into darkness across Northern California, including parts of Napa Valley and Oakland.The shutoff is a key strategy for preventing its power lines from sparking another deadly — and costly — conflagration. It’s largely unprecedented. Never before have California …read more […]
Royal Dutch Shell’s chief executive took aim beyond the energy sector to call on leaders of other industries including aviation, shipping and steel to jointly draw up plans to tackle greenhouse gas emissions. Ben van Beurden also warned on Wednesday that energy companies that do not collaborate in the fight against climate change under the 2015 Paris agreement risk going out of business. “Climate change is the biggest challenge facing the energy industry, but the energy industry isn’t the biggest challenge for the world trying to tackle climate change,” van Beurden told the Oil & Money conference. …read more […]
Chinese video surveillance company Hikvision will only suffer a limited, short-term hit after being blacklisted by the U.S. government and will strive to get the ban lifted, its general manager said on Wednesday.
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