Business Archives - Page 2 of 32

Porsche SE says it raised voting rights share in VW

Porsche SE, the holding company controlling Germany’s Volkswagen, on Tuesday said it raised its voting rights share in the carmaker to 53.1 percent from 52.2 percent.

Deutsche Bank merger talks with Commerzbank raise job fears, lift shares

A merger of Deutsche Bank and its rival Commerzbank could result in as many as 30,000 job cuts over the long term, a representative of German union Verdi who is a Deutsche supervisory board member told n-tv broadcaster.

Ford to boost profit-rich U.S. large SUV production again

Ford Motor Co said it will boost U.S. production of its largest sport utility vehicles in a move to grab profits in a market where consumers favor larger, more comfortable vehicles.

Exclusive: India government asked banks to save Jet, avoid bankruptcy – sources

India’s government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to avert thousands of job losses weeks before a general election, two people within the administration told Reuters.

Exclusive: Israel’s chip sales to China jump as Intel expands

Israel’s exports of computer chips to China soared last year as Chinese companies bought more semiconductors made at Intel’s Kiryat Gat plant.

Tencent targets 10 percent of managers for job cuts or demotion: Bloomberg

Tencent Holdings Ltd is putting about 10 percent of its managers on notice, as China’s largest gaming and social media company shakes up its workforce amid cooling growth and intensified competition, Bloomberg reported on Tuesday, citing sources.

Philippines rejects Go-Jek appeal against ride-hailing license ban

Indonesian ride-hailing firm Go-Jek lost an appeal on Tuesday against the Philippines’ decision to refuse to grant it a license due to its failure to meet local ownership criteria, in a major blow to its Southeast Asia expansion plans.

Hyundai Motor, Kia to invest $300 million in India’s Ola

South Korean automakers Hyundai Motor Co and Kia Motors Corp will together invest $300 million in Indian ride-hailing platform Ola, playing catch-up in the global race to invest in mobility firms.

India’s RCom jumps after Mukesh Ambani bails out brother Anil on Ericsson dues

Shares of Anil Ambani-led Reliance Communications Ltd (RCom) were locked in the upper circuit on Tuesday after his elder brother Mukesh Ambani helped pay off debt owed to Sweden’s Ericsson.

Netflix says it will not join Apple TV service

Netflix Inc will not make its programming available through a coming TV service expected to be unveiled by Apple Inc, Netflix Chief Executive Reed Hastings said on Monday.

U.S. states probing Hyundai, Kia over vehicle fires: Connecticut AG

A group of U.S. states is investigating Hyundai Motor Co and Kia Motors Corp for potential unfair and deceptive acts related to reports of hundreds of vehicle fires, Connecticut Attorney General William Tong said on Monday.

Ride-hailing firm Lyft launches IPO road show in Uber’s shadow

Myanmar’s army said on Monday it had set up a military court to investigate its conduct during a crackdown on the Rohingya Muslim minority in 2017 that forced more than 730,000 to flee to neighboring Bangladesh.

GM considers options for its Lyft stake following IPO

As Lyft Inc cruises toward an initial public offering this month, one of the big winners will be General Motors Co, whose stake in the ride-hailing firm could be worth as much as $1.27 billion.

Brexit hits ability of UK fintech to lure top talent: report

Leaving the European Union is making it harder for fintech firms in Britain to recruit top talent, a report said on Tuesday, threatening to slam the brakes on a 7 billion pound ($9 billion)growth sector just as EU states step up competition.

Nvidia partners with Softbank to deploy cloud gaming servers in Japan

Chip designer Nvidia Corp said on Monday it has partnered with Softbank Group Corp and LG Uplus Corp to deploy cloud gaming servers in Japan and Korea later this year.

Huawei leads Asian domination of U.N. patent applications in 2018

Chinese telecoms giant Huawei led the pack with Asia accounting for more than half of the international patent applications at the World Intellectual Property Organization (WIPO) last year, WIPO said on Tuesday.

Goldman Sachs sets targets for Hispanic and black entry-level hires

Goldman Sachs Group Inc is setting targets for hiring minority groups for the first time as it ramps up efforts to diversify its workforce, according to a memo sent by top executives to employees on Monday.

Ethiopia and Indonesia crash parallels heap pressure on Boeing

The world’s biggest planemaker faced escalating pressure on Monday after Ethiopia pointed to parallels between its crash and one in Indonesia, sharping the focus on the safety of software installed in Boeing 737 MAX planes.

Wall St. advances ahead of Fed policy meeting

U.S. stock futures eked out gains on Monday following the S&P and Nasdaq’s strongest weekly gain this year, while investors waited for further details from a Federal Reserve policy meeting later this week.

Foxconn says Wisconsin factory production to launch by 2020

Foxconn Technology Group Ltd said on Monday it will complete work on a new factory in Wisconsin to assemble liquid crystal display screens and start production before the end of next year.

Governor’s Small Business Workshops

Meetings

Good Customer Service Award

Oil closes in on four-month highs on OPEC cuts, U.S. stock draw

Oil prices were mixed on Monday, weighed by concerns that an economic downturn may dent fuel consumption, but supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela.

U.S. firm FIS buys Worldpay for $35 billion in payments deal bonanza

U.S. fintech group Fidelity National Information Services Inc (FIS) has agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry.

Warner Bros CEO Kevin Tsujihara resigns as AT&T probes ‘mistakes’

Warner Bros Chairman and Chief Executive Kevin Tsujihara has resigned from one of Hollywood’s most powerful studios following a report that he improperly helped an actress obtain roles at the studio.

U.S. judge says Rio Tinto must face SEC fraud case

A U.S. judge on Monday rejected Rio Tinto Plc’s bid to dismiss a Securities and Exchange Commission lawsuit accusing the Anglo-American mining company of civil fraud in its handling of a failed investment in a Mozambique coal project.

Former UAW vice president charged in U.S. corruption probe

Federal prosecutors in Detroit on Monday charged a former United Auto Workers vice president with conspiracy to violate labor laws.

Marfa Live Arts

Chamber Banquet

Google seeking to promote rivals to stave off EU antitrust action

Google is trying to boost price comparison rivals such as Kelkoo in an effort to appease European Union antitrust regulators and ward off fresh fines following a 2.4-billion-euro ($2.7 billion) penalty nearly two years ago.

Exclusive: Sanofi says working on CEO succession plan

Pharmaceuticals group Sanofi is working on a plan to find a new CEO in agreement and consultation with current chief executive Olivier Brandicourt, a spokesman for the French drugmaker told Reuters on Monday.

Marriott to open 1,700 hotels, return $11 billion to shareholders by 2021

Hotel chain Marriott International Inc on Monday mapped out a three-year plan to open more than 1,700 hotels around the world, return up to $11 billion to shareholders and make a full-year profit of as much as $8.50 per share by 2021.

China rejects ‘abnormal’ U.S. spying concerns as EU pushes trade

China dismissed U.S. security warnings against its telecoms equipment maker Huawei as groundless and “abnormal” on Monday, as Beijing’s top diplomat went to Brussels to cool growing European frustration over trade.

Brexit crisis tipped for British asparagus as EU seasonal workers stay away

For almost 100 years, Chris Chinn’s family has farmed asparagus in the rolling hills of the Wye Valley in western England.

Tech giants will have to be regulated in future: EU’s Timmermans

The European Union and authorities around the world will have to regulate big technology and social media companies at some stage to protect citizens, the deputy head of the European Commission said on Monday.

Global stocks rise, dollar slips as traders price in accommodative Fed stance

Global stocks rose to their highest in five months and the dollar dipped on Monday as traders began to price in an accommodative stance from the U.S. Federal Reserve at its policy meeting this week.

Chesapeake still at odds with Pennsylvania’s Attorney General in royalty fight

Oklahoma City’s Chesapeake Energy won’t escape a lawsuit filed by Pennsylvania Attorney General Josh Shapiro in a fight over natural gas drilling leases.

VW’s emission scandal leads to SEC lawsuit

Even after agreeing to pay $8.5 million to Oklahoma and millions to other states over its emissions scandal, Volkswagen finds itself being sued by the U.S. Securities and Exchange Commission.

Apple unveils new iPad, updates Mini ahead of video streaming launch

Apple Inc in a surprise announcement on Monday launched 10.5-inch iPad Air and a 7.9-inch iPad Mini ahead of its March 25 event.

Boeing shares fall again after probe report into FAA approval of 737 MAX

Boeing Co shares fell by more than 2.2 percent early on Monday, after a pair of newspaper reports over the weekend raised more questions about the certification process for its 737 MAX jets before two recent deadly crashes.

Volkswagen wants to participate in battery cell subsidies scheme

Volkswagen on Monday said it had expressed its intent to Germany’s Economy Ministry to participate in a state funding scheme aimed at supporting battery cell production for electric vehicles.

Far-flung job offers pose tough choices for GM Ohio workers

General Motors Co built the final Chevrolet Cruze small car at its Lordstown, Ohio, assembly plant on March 6, despite demands from President Donald Trump, Ohio political leaders and the United Auto Workers union not to close the plant and leave nearly 1,500 workers laid off.

Business Category Archive