Carlos Ghosn, the man who created what was effectively the world’s largest carmaker, was arrested in Japan on Monday. The arrest is a remarkable fall from grace for a man regarded as one of the most powerful executives in the auto industry. Mr. Ghosn (pronounced “Goan”) has been credited with reviving Japan’s Nissan car company […]
President Trump’s protectionist impulses have upended the global debate about international trade. But so far, his policies have barely changed a fundamental reality: The United States is still less protectionist than it has been throughout most of its history or than most nations are today. Even if the tariffs currently in place inflict only limited […]
LONDON (Reuters) – New York’s Department of Financial Services (DFS) will end a period of monitoring of Standard Chartered (STAN.L) on Dec. 31, the DFS said on Wednesday, bringing to a close one strand of the bank’s punishment for past failings in compliance controls. Standard Chartered agreed to the supervision with the regulator in 2012 […]
DUBAI (Reuters) – Abu Dhabi’s International Petroleum Investment Co (IPIC) said in a statement on Wednesday it had filed a lawsuit against U.S. investment bank Goldman Sachs (GS.N) and others to recover losses incurred due to the Malaysian state fund 1MDB. IPIC said in the statement it filed a civil legal action in New York […]
(Reuters) – U.S. stock futures rose on Wednesday, after a brutal two-day selloff pushed the S&P 500 and the Dow Jones Industrial Average in the red for the year. Apple Inc and other technology and internet giants, which lost a combined $1 trillion of their market value on Tuesday, posted modest gains in premarket trading […]
STOCKHOLM (Reuters) – IKEA Group, the owner of most IKEA furniture stores worldwide, plans to cut 7,500 jobs over the next couple of years, mainly administrative staff in central support functions, it said on Wednesday. At the same time, the group, which owns 367 IKEA stores, estimates it will create 11,500 new jobs in the […]
PARIS (Reuters) – Airbus (AIR.PA) on Wednesday set in place the financial and operational pillars of a soon-to-be completely overhauled leadership as it emerges from months of internal strife caused by legal problems and delays in meeting record output goals. The European planemaker named Dominik Asam, the finance director of German chipmaker Infineon Technologies (IFXGn.DE), […]
HONG KONG (Reuters) – China’s Babytree Group, a parenting website operator, has priced its Hong Kong IPO at the bottom of a marketing range, people close to the deal said, reducing its valuation and implying a ‘down round’ for investor Alibaba Group Holding Ltd (BABA.N). Babytree will sell shares in the initial public offering (IPO) […]
SINGAPORE (Reuters) – Oil bounced by around $1 a barrel on Wednesday to claw back some of the previous day’s 6 percent plunge, lifted by a report of an unexpected decline in U.S. commercial crude inventories and record Indian crude imports. But investors remained on edge, with the International Energy Agency (IEA) warning of unprecedented […]
HONG KONG (Reuters) – Tencent Music Entertainment (TME) – China’s answer to Spotify (SPOT.N) – is facing crunch time on its hotly anticipated U.S. $2 billion mega IPO this year. The streaming music giant, which has more than 800 million monthly users, had initially pencilled in an October launch for a U.S. initial public offering […]