businessNews Category

April 10, 2019

Brazil plans to charge iron ore miner Vale over deadly mine collapse – WSJ

Prosecutors are planning to file criminal charges against Brazil’s miner Vale SA and its employees over the collapse of a mine-waste dam in January that killed hundreds of people, the Wall Street Journal reported, citing the lead investigator.

April 10, 2019

Wall Street ekes out gains as investors shrug off Fed minutes

Tech stocks led Wall Street slightly higher on Wednesday, with investors largely shrugging off benign U.S. inflation data and unsurprising minutes from the Federal Reserve’s March meeting.

April 10, 2019

ADM may eliminate positions in restructuring of specific areas

U.S. grain trader Archer Daniels Midland Co said on Wednesday it will open a voluntary retirement window for North American employees and may eliminate individual positions as part of restructuring of specific areas.

April 10, 2019

U.S. consumer prices rise solidly, but underlying trend tame

U.S. consumer prices increased by the most in 14 months in March, but the underlying inflation trend remained benign amid slowing domestic and global economic growth.

April 10, 2019

U.S. government posts $147 billion deficit in March

The U.S. federal government posted a $147 billion budget deficit in March, according to data released on Wednesday by the Treasury Department.

April 10, 2019

Factbox: Big bank CEOs face the heat over pay disparity at Capitol Hill

Chief executive officers of some of America’s largest banks, including JPMorgan Chase & Co, Bank of America Corp and Citigroup Inc, on Wednesday testified before Congress, where they were grilled on a wide range topics.

April 10, 2019

U.S. lawmakers grill bank CEOs for the first time since financial crisis

Chief executives of some of the largest U.S. banks appeared before Congress on Wednesday, giving lawmakers their first opportunity to grill the lenders since the 2007-2009 financial crisis.

April 10, 2019

Oil rallies as U.S. gasoline inventory draw offsets crude build

Oil futures climbed more than 1 percent on Wednesday after U.S. data showing a deep decline in gasoline stocks overrode a rise in crude inventories to 17-month highs, and as an OPEC report showed further tightening of Venezuela’s crude supply.

April 10, 2019

Stocks, euro inch higher on ECB stance

The euro rose and world stock markets edged higher on Wednesday amid tame U.S. inflation data and as the European Central Bank left its ultra-easy policy stance unchanged but warned that economic risks remained to the downside.

April 10, 2019

Wife of ousted Nissan boss Ghosn returns to Japan to testify

The wife of ousted Nissan boss Carlos Ghosn returned to Japan on Wednesday and intends to testify to Tokyo prosecutors, a source close to her entourage said, days after she left the country to seek help from the French government.

April 10, 2019

U.S., China agree to establish trade deal enforcement offices: Mnuchin

U.S. Treasury Secretary Steven Mnuchin said on Wednesday that U.S.-China trade talks continue to make progress and the two sides have basically settled on a mechanism to police any agreement, including new enforcement offices.

April 10, 2019

Palestinians condemn Airbnb about-face on delisting Israeli settlements

Airbnb’s decision not to go ahead with excluding Jewish settlements in the West Bank from its accommodation listings Palestinian condemnation on Wednesday and accusations that it was helping to perpetuate Israeli occupation.

April 10, 2019

Tech in driver’s seat as S&P 500 flirts with record

Technology stocks are extending their leadership on Wall Street as the S&P 500 trades near its all-time high, with Advanced Micro Devices Inc , Xilinx Inc and Xerox Corp among the top performers since last December’s sell-off that stirred fear of an e…

April 10, 2019

Aramco bonds’ modest gains suggest demand was inflated: sources

Saudi Aramco’s debut $12 billion bonds booked at best modest gains on Wednesday, their first trading day after some $100 billion in orders, suggesting part of the record-breaking demand was inflated, three banking and investment sources said.

April 10, 2019

Saudi Aramco says it raises $12 billion from bond issue

Saudi Aramco said on Wednesday that it raised $12 billion from its debut international bond issue, which was split into five tranches. The bonds have maturities ranging from three to 30 years.

April 10, 2019

U.S. charges pummel drugmaker Indivior, hurt Reckitt

Indivior Plc lost nearly three-quarters of its stock market value on Wednesday and former parent Reckitt Benckiser also fell after the U.S. Justice Department accused the British drugmaker of illegally boosting prescriptions for its blockbuster opioid …

April 10, 2019

Germany’s Scholz: Must avoid escalation in EU-U.S. trade dispute

German Finance Minister Olaf Scholz has said financial leaders must use talks in Washington this week to avoid any escalation in trade disputes as political risks pose the biggest threat to a slowing world economy.

April 10, 2019

U.S. transport chief defends FAA decision to not immediately ground Boeing 737 MAX

U.S. Transportation Secretary Elaine Chao on Wednesday defended the Federal Aviation Administration’s decision to not immediately ground the Boeing 737 MAX fleet after a deadly crash in March of an airplane in Ethiopia, the second in months.

April 10, 2019

Sunrise’s UPC deal faces hurdle as top shareholder blocks capital leeway plan

Sunrise Communications’ top shareholder on Wednesday blocked plans to extend the company’s right to issue fresh capital to 2021, complicating its bid to buy Liberty Global’s Swiss UPC cable business for $6.3 billion.

April 10, 2019

Airbus names ex Deutsche Telekom boss as next chairman

Airbus nominated a new German chairman on Wednesday as Frenchman Guillaume Faury prepared to become its chief executive, signaling that the Franco-German balance at its helm will extend through a sweeping management overhaul.

April 9, 2019

In first public address, Ghosn says he is innocent and victim of backstabbing

Ousted Nissan boss Carlos Ghosn said he was innocent and slammed former colleagues whom he accused of backstabbing and conspiring against him, addressing the public for the first time since his initial arrest last year.

April 9, 2019

Political intervention may not be best way to help Ghosn: French finance minister

Political interventions might not be the best way to help ousted car executive Carlos Ghosn, French Finance Minister Bruno Le Maire told FranceInfo radio on Tuesday.

April 9, 2019

Demand for Aramco’s bonds swells to over $85 billion: source

Saudi Aramco has attracted orders in excess of $85 billion for its planned debut international bond, a source familiar with the matter said.

April 9, 2019

French bank SocGen plans to cut 1,600 jobs in bid to buoy profits

Societe Generale, France’s third-largest bank, unveiled on Tuesday a plan to cut 1,600 jobs, mainly at its corporate and investment banking arm, in a bid to buoy profitability after last year’s poor performance.

April 9, 2019

Sony stock surges after Reuters reports Third Point re-building stake

Sony Corp shares surged more than 9 percent on Tuesday after a Reuters report saying Third Point LLC was again raising its stake in the Japanese conglomerate stoked speculation that fund owner Daniel Loeb was preparing to agitate for more change.

April 9, 2019

Big Wynn? Vegas giant makes $7.1 billion play for Australia’s Crown

World No. 2 casino operator Wynn Resorts made a A$10 billion ($7.1 billion) takeover approach for Australia’s Crown Resorts, the target company said on Tuesday, hoping to expand its geographic reach as it faces growth hurdles in Asia.

April 9, 2019

Debenhams rejects higher Ashley offer, set for administration

Debenhams said on Tuesday it had rejected a last-minute offer by shareholder Mike Ashley to underwrite an increased 200 million pound ($262 million) rights issue, meaning it is likely to fall into the hands of its lenders shortly.

April 9, 2019

Asia shares edge up to eight-month peak, oil settles

Asian shares hit an eight-month high on Tuesday as optimism about Chinese measures to boost economic growth lifted mainland markets, however, worries about U.S. earnings and a crucial Brexit summit this week limited gains.

April 9, 2019

Oil prices hover near five-month highs as global markets tighten

Oil prices rose to fresh 5-month highs on Tuesday as markets tightened amid OPEC-led supply cuts, U.S. sanctions against Iran and Venezuela, and escalating violence in Libya.

April 9, 2019

China says it wants to eliminate bitcoin mining

China’s state planner wants to ban bitcoin mining, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector.

April 9, 2019

China Aircraft Leasing says no change to Boeing 737 MAX order

China Aircraft Leasing Group Holdings Ltd (CALC) on Tuesday said it has not put its order for 100 Boeing Co 737 MAX jets on hold, rebutting an earlier report by the South China Morning Post (SCMP) newspaper.

April 9, 2019

Asia shares weighed by cautious mood, oil settles

Asian shares struggled to make gains on Tuesday as investors braced for key events later in the week, including the start of the U.S. earnings season and a crucial Brexit summit, while broader concerns about slowing global growth checked sentiment.

April 9, 2019

Sony shares surge after Reuters reports Third Point building stake again

Sony Corp shares surged more than 7 percent on Tuesday after a Reuters report saying Third Point LLC was again raising its stake in the Japanese conglomerate stoked speculation that fund owner Daniel Loeb was preparing to agitate for more change.

April 9, 2019

Exclusive: Standard Chartered expected to pay just over $1 billion to resolve U.S., U.K. probes

London-based Standard Chartered is expected to pay slightly more than $1 billion to resolve a nearly five-year-old investigation of potential U.S. sanctions violations tied to its banking for Iran-controlled entities in Dubai, as well as a related U.K….

April 8, 2019

U.S. proposes list of EU goods for tariff retaliation against Airbus subsidies

The U.S. Trade Representative on Monday proposed a list of European Union products ranging from large commercial aircraft and parts to dairy products and wine on which to slap tariffs as retaliation for European aircraft subsidies.

April 8, 2019

S&P 500, Nasdaq edge higher as earnings season looms

The S&P 500 and the Nasdaq edged into positive territory on Monday, with gains held in check by falling industrials as investors braced for what analysts now expect to be the first quarter of contracting earnings since 2016.

April 8, 2019

Pinterest seeks $15-$17 per share in IPO, below last private valuation

Pinterest Inc on Monday set a price range of $15 to $17 per share for its initial public offering of 75 million shares, valuing it below the $12 billion at which the online image-search company sourced its last fundraising in 2017.

April 8, 2019

Twitter’s Jack Dorsey paid $1.40 in 2018

Twitter Inc said on Monday it paid its Chief Executive Officer Jack Dorsey $1.40 in 2018.

April 8, 2019

Stocks edge higher as crude oil gains

NEW YORK – A gauge of global equities edged higher on Monday as another drop in Boeing shares and concerns U.S. companies will report a decline in earnings for the first time in three years were offset by rising crude prices that lifted oil shares.

April 8, 2019

Exclusive: Loeb’s Third Point building stake to pressure Sony – sources

Daniel Loeb’s hedge fund Third Point LLC is building a stake in Sony Corp to push for changes that include shedding some businesses, the second time in six years it has targeted the Japanese electronics maker, people familiar with the matter said on Mo…

April 8, 2019

Delays at U.S.-Mexico border crossing hits autos, trucks still lining up

Long delays at the U.S.-Mexico border crossing for goods destined for American plants and consumers are hitting the U.S. auto industry, and the gridlock reduced by half the number of northbound trucks that crossed the entry point last week.

April 8, 2019

Demand for Aramco’s bond ‘north of’ $30 billion, says Saudi energy minister

Demand for Saudi Aramco’s inaugural international bond is expected to exceed $30 billion, Saudi Energy Minister Khalid al-Falih said on Monday.

April 8, 2019

Sports Direct offers to fund Debenhams’ rescue in return for CEO job

Sports Direct said on Monday it had offered to underwrite a 150 million pound ($196 million) rights issue at Debenhams in exchange for its boss Mike Ashley taking the top job at the ailing retailer.

April 8, 2019

Honda will stop car production in Turkey after 2021: statement

Honda has decided to end car production in Turkey following completion of the production of its current Civic Sedan model in 2021, the company said in a statement on Monday.

April 8, 2019

Scandal-prone Korean Air chairman dies weeks after ouster from board

Korean Air patriarch, chairman and CEO Cho Yang-ho died of a chronic illness on Monday just weeks after shareholders ended his 27-year tenure on the board of the country’s biggest carrier due to perceived leadership failings.

April 8, 2019

Sweet seats and candy canes: Inside Fiat Chrysler’s Toledo turnaround

Lots of workplaces have a hot seat. At the Jeep assembly plant in Toledo, Ohio, there is a “sweet seat.”

April 8, 2019

Jet Airways lenders lay out bid terms for 75 percent stake in airline

Prospective bidders of struggling Jet Airways Ltd need to settle the airline’s existing debt as part of any deal to buy a stake in the carrier, its consortium of lenders led by State Bank of India (SBI) said in a statement on Monday.

April 8, 2019

Carlyle to buy 30-40 percent stake in Cepsa from Abu Dhabi’s Mubadala

U.S buyout firm Carlyle Group has agreed to buy a 30 to 40 percent stake in Spanish energy company Cepsa from Abu Dhabi state investor Mubadala, valuing the stake at as much as $4.8 billion.

April 8, 2019

Midwest floods hammer U.S. ethanol industry, push some gasoline prices toward five-year high

The March floods that punished the U.S. Midwest have roiled the ethanol industry, hammering prices and trapping barrels in the country’s interior while the U.S. coasts suffer from shortages of the biofuel.

April 8, 2019

Oil hits highest since November 2018 amid OPEC cuts, U.S. sanctions

Oil prices rose to their highest level since November 2018 on Monday, driven upwards by OPEC’s ongoing supply cuts, U.S. sanctions against Iran and Venezuela, and strong U.S. jobs data.

April 7, 2019

Carlyle agrees to buy 30 percent stake in Spain’s Cepsa: FT

Private equity firm Carlyle Group LP has agreed to buy a 30 percent stake in Spanish oil and gas company Cepsa from an Abu Dhabi sovereign wealth fund in a $3.6 billion deal including debt, the Financial Times reported on Sunday, citing people with kno…

April 7, 2019

KPMG plans overhaul of British business: The Times

KPMG is planning an overhaul of its British business to create an independent audit firm, regardless of any decision by the competition regulator to force a break-up of the Big Four accounting firms, The Times reported on Monday.

April 7, 2019

Warren Buffett urges Wells Fargo to look beyond Wall Street for next CEO: FT

Warren Buffett, Wells Fargo & Co’s largest shareholder, urged the bank in an interview with the Financial Times on Sunday to look outside Wall Street for a new chief executive officer.

April 7, 2019

Copper producers gather; electric cars seen driving demand growth

Global copper producers are converging in Chile this week as tightening supply buoys prices, even as the industry grapples with declining ore quality, project delays and worries the U.S-China trade war may hit long-term demand.

April 4, 2019

Snap adds games to Snapchat app to hold on to young users

Snap Inc on Thursday launched a gaming platform within its Snapchat app featuring original and third-party games such as Zynga Inc’s Tiny Royale, aiming to keep existing users engaged longer and attract new ones.

April 4, 2019

Ethiopia inquiry shows Boeing MAX hurtling uncontrolled to disaster

Ethiopia Airlines’ doomed 737 MAX jet hit excessive speed and was forced downwards by a wrongly-triggered automation system as pilots wrestled to regain control, a preliminary report into the crash that has shaken the aviation world showed on Thursday….

April 4, 2019

U.S. conducted secret surveillance of China’s Huawei, prosecutors say

U.S. authorities gathered information about Huawei Technologies Co Ltd through secret surveillance that they plan to use in a case accusing the Chinese telecom equipment maker of sanctions-busting and bank fraud, prosecutors said on Thursday.

April 4, 2019

Boeing CEO says erroneous activation of MCAS software adds to pilots’ high workload

Boeing Co Chief Executive Officer Dennis Muilenburg said on Wednesday erroneous activation of so-called MCAS software in its grounded 737 MAX aircraft could increase pressure on pilots, while flying the plane.

April 4, 2019

Boeing says software fix to always allow override of anti-stall system

Boeing Co said on Thursday that a new software fix for its anti-stall system, at the center of investigations into two deadly plane crashes, will give pilots the authority to always override the system if activated by faulty sensor data.

April 4, 2019

Ralph Nader calls for consumers to boycott Boeing 737 MAX

U.S. consumer activist Ralph Nader called on Thursday for consumers to boycott Boeing Co’s 737 MAX aircraft, which suffered two deadly accidents in five months.

April 4, 2019

Elon Musk’s job at Tesla likely safe even if held in contempt in SEC case

Tesla Inc Chief Executive Elon Musk should be subjected to greater oversight and the potential for additional fines if he is held in contempt for violating his recent fraud settlement with the U.S. Securities and Exchange Commission, a lawyer for the r…

April 4, 2019

S&P 500 edges higher with trade talks in focus

The benchmark S&P 500 stock index edged higher to reach near six-month highs on Thursday, with losses in technology stocks countered by gains in Boeing Co and Facebook Inc as investors waited for more clarity on the U.S.-China trade talks.

April 4, 2019

Three suitors circle Italy’s Cavalli as it seeks creditor protection

Three investors including Italian fashion entrepreneur Renzo Rosso are eyeing a possible bid for luxury label Roberto Cavalli, according to a document filed by the company with a court in Milan as it seeks breathing space from creditors.

April 4, 2019

ECB will ask Deutsche Bank to raise fresh funds for merger: source

The European Central Bank will ask Deutsche Bank to raise fresh funds before it gives the go-ahead for a merger with a state-backed rival, a person with direct knowledge of the matter said.

April 4, 2019

Commerzbank’s market share is too small, CEO says amid merger talks

Commerzbank’s market share is too small and organic growth is too slow, the lender’s chief executive told employees as he weighs a tie-up with Deutsche Bank .

April 4, 2019

Fed’s Harker sees ‘at most’ one rate hike in 2019

A strong U.S. job market and near-target inflation will warrant “at most” one interest rate increase in 2019 and one in 2020, Federal Reserve Bank of Philadelphia President Patrick Harker said on Thursday.

April 4, 2019

Fed’s Mester sees scope for U.S. rates to move ‘a bit higher’

Interest rates may need move “a bit higher” if the U.S. economy performs as expected and dodges fears of a global slowdown, a Federal Reserve policymaker said on Thursday.

April 4, 2019

Powell gets the heat, but all Trump Fed appointees backed rate hikes

U.S. President Donald Trump may feel he is “stuck” with Federal Reserve Chairman Jerome Powell, whom he has blasted for engineering four interest rate hikes since Trump appointed him, but none of Trump’s other Fed appointees has stood in the way of the…

April 4, 2019

Target raises hourly minimum wage to $13, further topping Walmart’s $11

Target Corp will raise its U.S. minimum wage to $13 an hour in June, from $12, increasing its payroll costs and putting new pressure on rival Walmart Inc to follow suit, given a labor market that is among the tightest in half a century.

April 4, 2019

Jeff Bezos’ ex-wife cedes control of Amazon in divorce deal

MacKenzie Bezos, ex-wife of Amazon.com Inc founder and Chief Executive Officer Jeff Bezos, will give 75 percent of their stake in the company and all voting rights to the billionaire entrepreneur as part of their divorce settlement. MacKenzie Bezos …

April 4, 2019

Tesla investors lose faith after first-quarter deliveries disappoint

A bigger-than-expected drop in Tesla Inc deliveries spooked stock and bond investors, raising concern about the electric-car maker’s ability to make money as Chief Executive Elon Musk headed into another legal tussle with regulators on Thursday.

April 1, 2019

Upbeat China, U.S. manufacturing data push Wall Street higher

U.S. stocks rallied on Monday, starting off the new quarter on a strong note, as upbeat manufacturing numbers from the United States and China eased worries about slowing global growth.

April 1, 2019

Manufacturing rebound, trade hopes lift stocks

Global stocks rallied on Monday, building on their best quarterly performance since 2010, as investors cheered upbeat factory activity data in China and the United States and signs of progress on the U.S.-China trade front.

April 1, 2019

Exclusive: Renault alerts prosecutors to Oman dealer payments in Ghosn era

Renault has alerted French prosecutors to payments made to a Renault-Nissan business partner in Oman under former Chief Executive Carlos Ghosn, two sources told Reuters.

April 1, 2019

Mixed data offer glimmers of hope for slowing U.S. economy

U.S. retail sales unexpectedly fell in February, but a rebound in factory activity in March and strong increase in construction spending offered hope the economy was not slowing as sharply as previously feared.

April 1, 2019

Oil rises to 2019 highs as demand outlook improves

Oil climbed about 2 percent to new 2019 highs on Monday, with Brent crude touching $69 a barrel, after positive signs for the global economy and tighter supplies drove both benchmarks’ largest first-quarter gains in nearly a decade.

April 1, 2019

Swiss drugmaker Novartis must face doctor kickback suit, U.S. judge rules

Novartis AG must face a U.S. government lawsuit accusing it of paying millions of dollars in kickbacks to doctors so they would prescribe its drugs, after a federal judge ruled in a decision released on Monday that the government had offered evidence o…

April 1, 2019

‘Impossible’ meatless patty gets Burger King Whopper test

Vegetarian burgers may finally be getting the recognition they need to go mainstream. On Monday Burger King and Silicon Valley startup Impossible Foods announced the rollout of the Impossible Whopper in 59 stores in and around St. Louis, Missouri.

April 1, 2019

U.S. Labor Department moves to ease companies’ liability for franchisee wage violations

The U.S. Department of Labor on Monday issued a proposal that would make it more difficult to prove companies are liable for the wage law violations of their contractors or franchisees, a top priority for business groups.

April 1, 2019

Upbeat data pushes Wall Street higher

U.S. stocks rallied on Monday, starting off the new quarter on a strong note, as upbeat manufacturing numbers from the United States and China eased worries about slowing global growth.

April 1, 2019

China’s Kunlun in talks with U.S. over Grindr: filing

Chinese gaming company Beijing Kunlun Tech Co Ltd said on Monday that it was in talks with U.S. government authorities about whether it should continue to own popular gay dating app Grindr LLC.

April 1, 2019

Kellogg agrees $1.3 billion cookie sale with Nutella-maker Ferrero

U.S. food group Kellogg Co has agreed to sell its Keebler biscuits brand and other assets to Nutella maker Ferrero for $1.3 billion as it focuses on its core cereals and snacks businesses.

April 1, 2019

Sweden will not pursue Browder’s Swedbank complaint

Sweden’s Economic Crime Authority said it will not investigate Swedbank over a criminal complaint alleging money laundering brought by campaigning investor Bill Browder.

April 1, 2019

U.S. airlines back up after second system glitch in a week

Major U.S. airlines were back up and running on Monday after a system-wide outage delayed hundreds of flights and fired-up customer complaints on social media, the second such disruption in a week.

April 1, 2019

Ex-CEO tells Lynch trial HP did not need Autonomy at any cost

Hewlett-Packard did not have to buy Britain’s Autonomy to solve the U.S. company’s other problems in 2011, its former chief executive told the $5 billion fraud trial of Mike Lynch.

April 1, 2019

Lyft gives up debut gains on second day of trading

Shares of Lyft Inc crashed through the ride-hailing company’s initial public offering price on just their second day of trading, tumbling as much as 10.5 percent and matching the speed at which Facebook Inc gave up its IPO price following its botched o…

April 1, 2019

J&J baby shampoo samples fail Indian quality test; company rejects findings

Johnson & Johnson’s baby shampoo samples failed quality tests conducted by the northwestern Indian state of Rajasthan, according to a public notice from the state’s drugs watchdog, findings that were rejected by the U.S. drugmaker.

April 1, 2019

When it comes to disclosing sponsors, your Google Assistant may be mute

On stage at an investor conference last month, Google’s Chief Business Officer Philipp Schindler identified a vexing challenge for the company’s most prized app: its virtual assistant.

April 1, 2019

Aramco eclipses top earner Apple ahead of debut $10 billion-plus bond sale

Saudi Aramco, the world’s biggest oil producer, made core earnings of $224 billion last year, almost three times as much as Apple, figures from the state-owned company showed on Monday ahead of its debut international bond issue.

April 1, 2019

Vegetarian patty gets the Burger King Whopper test

Vegetarian burgers may finally be getting the recognition they need to go main stream. On Monday Burger King and Silicon Valley startup Impossible Foods announced the roll-out of the Impossible Whopper in 59 stores in and around St. Louis, Missouri.

April 1, 2019

Global factory activity weak in March as clouds gather

Factory activity remained weak around the world last month, reinforcing worries of a global slowdown as forward-looking indicators pointed to gloomy times ahead, surveys showed on Monday.

April 1, 2019

Sweden decides against investigating Swedbank over Browder complaint

The Swedish Economic Crime Authority said on Monday it had decided against opening an investigation into Swedbank over a criminal complaint brought by Bill Browder, an investor campaigning to expose money laundering.

April 1, 2019

Airlines slump as EasyJet blames Brexit for weak outlook

British low-cost carrier easyJet warned on Monday that demand for tickets and prices were coming under pressure because of Brexit jitters and a weaker economic outlook, sending shares in European airlines lower.

April 1, 2019

Saudi ban on Boeing MAX flights to continue for near future: minister

Saudi Arabia has no immediate plans to allow Boeing 737 MAX aircraft to operate in the kingdom, its transport minister said on Monday, as state airline flyadeal potentially reconsiders an order for the jets.

April 1, 2019

Oil extends first-quarter gains on tight supply, economic optimism

Oil rose on Monday, building on its largest first-quarter gains in nearly a decade, as tight supply and positive signs for the global economy supported prices.

April 1, 2019

Financial Times reaches a million paying readers

The Financial Times has reached a milestone of a million paying readers, it said on Monday, with revenues and profits continuing to rise since the London-based business publication was acquired by Japan’s Nikkei from Pearson in 2015.

April 1, 2019

Norwegian Air CEO to visit Boeing, discuss MAX aircraft grounding

Norwegian Air Chief Executive Bjoern Kjos will travel to Seattle on Monday to visit aircraft maker Boeing and address problems linked to the recently grounded MAX aircraft, the company said.

April 1, 2019

Ethiopian crash could be largest non-war aviation reinsurance claim: Willis Re

Liability claims related to the Ethiopian Airlines crash and the grounding of Boeing 737 MAX 8 aircraft could be the largest non-war aviation reinsurance claim on record, hitting reinsurers’ profitability, reinsurance broker Willis Re said.

April 1, 2019

Brexit is wrecking Britain’s business reputation: Siemens UK head

Britain is wrecking its reputation for business stability with political divisions over Brexit and risks leaving the trading bloc with a hugely damaging “no-deal”, the UK head of German industrial giant Siemens has said.

April 1, 2019

Sports Direct says other Debenhams investors back making Ashley boss

Sports Direct, the sportswear group that is seeking control of Debenhams, said it has been contacted by other shareholders in the department store group expressing their support to install Mike Ashley as Debenhams CEO.