April 15, 2022 8:57 am
Oliver Zipse, BMW’s Chief Executive Officer, said during a roundtable in New York, that companies needed to be careful not to become too dependent on a few countries by focusing on electric vehicles only. The CEO noted that there still existed a market for combustion engine vehicles. “When you look at the technology coming out, […]
Read moreApril 14, 2022 9:41 am
Walmart Inc (WMT) said earlier this week it had appointed John Rainey, PayPal Holdings Inc’s finance head, as its next Chief Financial Officer. After having spent nearly seven years with PayPal, Rainey will assume the CFO role on June 6th. He is to replace Brett Biggs, who has been Walmart’s finance head since 2015 and […]
Read moreApril 14, 2022 8:04 am
Lakeland Industries Inc (LAKE), a leading global manufacturer of protective clothing for industry, healthcare and first responders on the federal, state and local levels, said on Wednesday that its Board of Directors had authorized a new stock buyback program, under which Lakeland will repurchase up to $5 million of its outstanding common stock. The new […]
Read moreApril 13, 2022 9:24 am
American Airlines Group (AAL) said this week it projected higher costs during the current quarter amid looming worker shortage and surging jet fuel prices globally due to Ukraine crisis. The air carrier expects a pretax loss, excluding special items, within the range of 21.3% to 22.6% during the quarter. American Airlines said it now expected […]
Read moreApril 13, 2022 7:27 am
German manufacturer Bosch said on Tuesday that it had halted production at two facilities in China – at a Thermotechnology plant in Shanghai and at an automotive components site in Changchun in Jilin province, as it sticks to government policies aimed to restrain the spread of COVID-19. Two other auto parts facilities, in Shanghai and […]
Read moreApril 12, 2022 10:30 am
Goldman Sachs Group Inc (GS) announced on Monday the acquisition of Netherlands-based asset manager NN Investment Partners in a deal valued at EUR 1.7 billion ($1.9 billion). Previously part of NN Group, NN Investment Partners will be integrated into Goldman Sachs Asset Management. The acquisition of NN Investment Partners is to bring Goldman Sachs’s assets […]
Read moreApril 11, 2022 10:54 am
United Airlines (UAL) said on Friday that it had put off the return of some grounded Boeing 777 jets with Pratt & Whitney 4000 engines until at least May 12th. In February 2021, a United Airlines 777 jet’s engine failed shortly after takeoff from Denver, resulting in debris over nearby cities. Yet, there have been […]
Read moreApril 8, 2022 7:31 am
JD.com Inc (JD), a leading supply chain-based technology and service provider, said on Thursday that it had appointed Lei Xu, the company’s president, as its new Chief Executive Officer with immediate effect. Xu will succeed Richard Liu and will also join JD.com Inc’s board of directors as an executive director. Richard Liu will continue to […]
Read moreApril 7, 2022 9:32 am
Shell announced on Thursday that it would write down up to $5 billion after its decision to leave the Russian Federation, as surging oil and gas prices supported trading activities in Q1. The oil major had previously said that Russia-related writedowns would be nearly $3.4 billion. The increase came as a result of additional potential […]
Read moreApril 7, 2022 7:29 am
Toyota Motor Corp (7203) said earlier this week it would close its facility in the Brazilian city of Sao Bernardo do Campo and move vehicle production to its other manufacturing sites in the state of Sao Paulo. According to Toyota, the move is part of its plan “to become more competitive when facing the challenges […]
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