Business & Finance News
The board of French carmaker Renault on Friday voted in favor of ousting Thierry Bollore as CEO, said two sources familiar with the matter.
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.
By Saikat Chatterjee, Hideyuki Sano and Gertrude Chavez-Dreyfuss
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.
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.
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.
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.
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.
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.
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.
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.
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.
By Saikat Chatterjee, Hideyuki Sano and Gertrude Chavez-Dreyfuss
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.
A U.S.-China currency agreement being floated as a symbol of progress in this week’s trade talks between the world’s two largest economies would largely repeat past pledges by China, currency experts say, and will not change the dollar-yuan relationship that has been a thorn in the side of President Donald Trump.
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