(Reuters) – Lenovo Group’s founder, Liu Chuanzhi, will retire at the year end as chairman of its parent Legend Holdings, the company said on Wednesday. Seventy-five-year-old Liu, who founded Legend Holdings in 1984, had stepped down as the chairman of Lenovo Group in 2011 to focus on the parent company. Legend veteran Ning Min, who […]
A landmark European court ruling this week on pension bailout funds’ obligations could cost the UK £160bn and force the winding-up of Britain’s pensions lifeboat, a senior City financier has warned. Edmund Truell, the founder of the Pension SuperFund and former chairman of the London Pension Fund Authority, has told Sky News that the European […]
LONDON (Reuters) – World stocks hovered just off record highs on Wednesday after climbing for five straight sessions, while Britain’s pound nursed heavy losses in the wake of renewed Brexit uncertainty. Europe’s stock markets edged higher, having taken a hit the previous session as Britain’s Prime Minister Boris Johnson took a harder line on Brexit. […]
NEW YORK (Reuters) – Dow stalwart Boeing Co’s (BA.N) shares have nearly erased their gains for 2019 as the plane maker grapples with the fallout from its sidelined 737 MAX jetliner. Boeing shares fell as much as 2% on Tuesday after the company said it would suspend production of its best-selling 737 MAX in January, […]
WASHINGTON — Brewers, distillers, racehorse owners, churches with parking lots and some wind energy producers won federal tax breaks in a last-hour congressional agreement on taxes and spending that was unveiled Tuesday morning. The tax-break bonanza has become a rite of passage, transcending partisan bickering and congressional rancor and allowing lawmakers to dole out special-interest […]
BERLIN (Reuters) – Chancellor Angela Merkel’s conservatives and their Social Democrat partners have delayed until next year a decision on security rules for Germany’s 5G network that could bar China’s Huawei, a highly divisive issue in an unhappy alliance. Merkel’s right-left government, under pressure from the United States to bar Huawei, wants to toughen up […]
After Gerald W. Cotten died last year, his clients at the cryptocurrency exchange Quadriga CX found themselves unable to gain access to at least $250 million in their accounts. The company’s operations were encrypted, and he was the only person who knew the passwords needed to move the funds, the company said. Now, with law […]
WASHINGTON (Reuters) – U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continue to boost the housing market and support the broader economy. The report from the Commerce Department on Tuesday also showed the stock of homes under construction last month […]
Whirlpool will recall hundreds of thousands of washing machines just months after it launched a major recall of potentially dangerous dryers. The firm said as many as 519,000 washing machines sold under the Hotpoint and Indesit brands in the UK between October 2014 and February 2018 could be recalled. It urged owners of appliances bought […]
Singapore gadget central Sim Lim Square has launched its second collective sale tender with a sweetener for potential developers – an additional 27 per cent of built-up space plus the possibility of lower development charges. But the reserve price remains unchanged at more than $1.25 billion. The closing date of the tender is Dec 30. […]