Business & Finance News
Bank of America Corp will recruit about 50 bankers for its investment team in Asia this year, as it pushes to bulk up its dealmaking business and shore up revenues from the unit globally, three people with direct knowledge of the matter said.
Hong Kong’s Cathay Pacific Airways Ltd will allow all crew members and frontline employees to wear surgical masks due to concerns over a new coronavirus, and said passengers to and from Wuhan, China, could change or cancel flights for free through Feb. 15.
The yuan dipped and the Australian dollar hit a six-week low on Wednesday as investors feared the outbreak of a new coronavirus in China could create more headaches for the Chinese economy, which is already slowing because of the U.S.-China trade war.
Simon Roberts has been appointed to replace Mike Coupe as the boss of Britain’s second-largest supermarket group Sainsbury’s .
Hyundai Motor Co turned in its best quarterly operating profit in almost three years and said it was on track for higher profit margins in 2020, powered by more sales of sport-utility vehicles (SUVs) such as the Palisade and Kona.
German luxury car maker Daimler on Wednesday issued its third profit warning for 2019, as costs related to the diesel scandal, heavy investment in electric vehicles and production issues weighed on earnings.
Boeing Co said on Wednesday it has agreed with Israel-based Tactical Robotics to explore development of a ducted fan propulsion technology with potential uses for piloted and autonomous light aircraft.
German luxury car maker Daimler on Wednesday warned that its 2019 earnings before interest and tax slumped to 5.6 billion euros ($6.2 billion) from 11.1 billion euros a year earlier.
Oil prices dropped on Wednesday as the International Energy Agency’s (IEA) forecast of a market surplus in the first half of this year was enough to cancel out concerns about military disruptions that have slashed Libya’s crude output.
Mike Coupe will step down as CEO of Sainsbury’s at the end of May after six years at the helm, with Britain’s second largest supermarket group opting for continuity by choosing retail director Simon Roberts as his successor.
A lieutenant to Carlos Ghosn who is facing charges in Japan for underreporting his salary at Nissan Motor Co stands a very high chance of being acquitted, as would Ghosn had he remained in Japan to face trial, a former prosecutor said.
Mike Coupe will step down as CEO of Sainsbury’s at the end of May after six years at the helm, with Britain’s second largest supermarket group opting for continuity by choosing retail and operations director Simon Roberts as his successor.
A BlackRock-backed group aims to raise an initial $500 million for a private equity fund that will invest in climate change-linked infrastructure upgrades in emerging markets.
The challenge posed by Facebook’s Libra cryptocurrency likely prodded major central banks to set up a new group to study the potential for issuing their own digital currencies, a former Bank of Japan executive said on Wednesday.
Change is afoot at BP. Incoming Chief Executive Bernard Looney plans to expand the company’s climate targets and is considering overhauling the structure of the oil and gas major in one of the biggest shake-ups in its 111-year history.
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