Business & Finance News
A spokesman for Volkswagen on Thursday denied a media report that said the carmaker was prepared to fully cover the costs of diesel hardware retrofits, which would come in at 3,000 euros ($3,426.30) per vehicle.
France’s Renault said it will build new Nissan and Mitsubishi vans at its domestic plants, raising investment in the country as it explores closer integration of the three-way carmaking alliance with government backing.
Tesla Inc said Robyn Denholm will replace Elon Musk as chair of the electric-car maker’s board, more than a month after the billionaire had to step down from the role as part of a settlement with U.S. regulators.
India’s finance minister said on Thursday that Mastercard and Visa were losing market share to domestic payments networks, months after Mastercard complained to the U.S. government that Indian Prime Minister Narendra Modi was using nationalism to promote a local rival.
China is squeezing itself into a gap in the market for aircraft seats – a low-key effort compared with plans for a Sino-Russian jetliner or the military might paraded at this week’s Airshow China, but one that may earn it a key role in global supply chains.
World stocks basked in an eighth straight session of gains in their longest winning streak of the year on Thursday, as reassuring trade data from China kept the previous day’s post-U.S. midterms risk rally rolling.
Russia wants to achieve full independence in its ability to develop civil aircraft in order to avoid being “pushed around” by dominant companies and countries in the industry’s supply chain, a senior Russian state executive said.
Saudi Arabia has made a $1 billion bid for a broad partnership with South African state-owned defense group Denel that would include acquisition of a minority stake in a joint venture with Germany’s Rheinmetall , a source familiar with the offer said.
Tesla Inc said board member Robyn Denholm will replace Elon Musk as its chair, more than a month after the billionaire had to step down as the electric-car maker’s chairman as part of a settlement with U.S. regulators.
Toshiba Corp announced on Thursday it is shedding assets, cutting jobs and buying back its stock starting this week, sending its shares up 13 percent, as the once-mighty Japanese conglomerate aims to regain investor confidence.
Japan’s Toshiba Corp will exit its U.S. liquefied natural gas (LNG) business by paying China’s ENN Ecological Holdings Co more than $800 million to take over the unit as part of a plan to shed money-losing assets.
UBS Group AG , Switzerland’s largest bank, faces a another potentially costly legal battle as the U.S. Department of Justice is preparing civil charges over the sale of mortgage-backed securities in the run-up to the 2008 financial crisis.
The Chinese government’s top diplomat Wang Yi said on Thursday that China and the United States can and should appropriately resolve their trade dispute through talks.
Chinese companies and individuals are selling more used private planes than in previous years as economic growth slows in China, and U.S. buyers are snapping up hard-to-find models, according to interviews with business jet analysts, dealers and consultants.
Electric carmaker Tesla Inc said Robyn Denholm, currently CFO at Australian telecoms operator Telstra Corp Ltd , will replace Elon Musk as its chair.
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