Business & Finance News
Alibaba Group founder and billionaire Jack Ma has defended the grueling overtime work culture at many of China’s tech companies, calling it a “huge blessing” for young workers.
PNC Financial Services Group Inc’s first-quarter profit met analysts’ estimates on Friday, as a rise in expenses and provision for credit losses overshadowed growth in interest income and loans.
JPMorgan Chase & Co reported a better-than-expected quarterly profit on Friday, as higher interest income and gains in the bank’s advisory and debt underwriting business offset weakness in trading.
A Chinese-Taiwanese group will take control of Apple Inc supplier Japan Display after pumping in funds as part of a 232 billion yen ($2.1 billion) bailout plan for the troubled display panel maker.
The head of Fiat Chrysler gave an upbeat outlook for the year after a tricky end to last year and a slow start to this one, confirming it was on track to meet its targets.
The chairman of Fiat Chrysler John Elkann said on Friday he was ready for bold and creative decisions to help build a solid and attractive future for the carmaker.
Deutsche Bank’s current Chief Executive Christian Sewing and Chairman Paul Achleitner would continue to lead the bank if it merges with Commerzbank, a German magazine reported on Friday.
Chevron Corp said on Friday it would buy smaller rival Anadarko Petroleum Corp for $33 billion in cash and stock to strengthen its presence in the Permian basin and beef up its LNG business.
Accountant EY’s audit of scandal-hit Danske Bank came under scrutiny on Friday as Danish authorities asked the state prosecutor for financial fraud to investigate the matter.
HSBC’s three executive director board members have agreed a reduction in their pension allowance from 30 to 10 percent of base salary, following increasing scrutiny from investors and other stakeholders on overall executive pay.
U.S. buyout firm Lone Star has emerged as the frontrunner to buy the German building materials business of France’s Saint-Gobain in a deal valued at up to 400 million euros ($450 million), four sources familiar with the matter said.
ESPN+, Walt Disney Co’s sports video streaming service, could attract between 8 million and 12 million paying subscribers by the end of the fiscal 2024 year, the company said on Thursday.
Walt Disney Co priced its highly anticipated streaming video service below Netflix in an aggressive move to challenge the dominant streaming service and entice families to buy yet another monthly subscription.
Walt Disney Co unveiled new details on Thursday about Disney+, a family-friendly digital video subscription that is set to debut later this year and compete with Netflix Inc.
Signs of a stabilisation in China’s giant economy and a soggy dollar helped oil markets cement their best run for more than three years on Friday, though stocks weren’t buoyed much after spending most of the week treading water.
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