Category: Business

Geely to bring air taxis to China in tie-up with Daimler-backed Volocopter

German startup Volocopter said it plans to form a partnership with Zhejiang Geely Holding Group that will bring its air taxis to China and that it has raised 50 million euros ($55.13 million) in fresh funding from the Chinese company and others. Volocopter, which says it is building the world’s first manned, electric and vertical […]

Samurai, Ninja loans boom as Japan banks hunt for yield

Japanese regional banks are increasingly lending to foreign companies and other borrowers via samurai and ninja loans as they struggle with interest rates stuck at zero and seek to diversify their customer base. Foreign companies who have long capitalized on the low cost of borrowing yen in the carry trade have also stepped up issuance […]

Stocks little changed, pound hits 6-week high

A gauge of global stocks held near flat on Monday after bouncing between gains and losses as investors questioned whether likely stimulus measures from the world’s central banks would be enough to deter slowing growth, while the pound hit a six-week high in choppy trading. After two straight weeks of gains that boosted the S&P […]

Time for shock and awe: Five questions for the ECB

This week’s European Central Bank meeting is shaping up as one of the most anticipated in years as the central bank gears up to boost a frail economy with a series of stimulus measures. A global trade war threatens to push the powerhouse German economy into recession and headwinds from Brexit are becoming stronger. No […]

British Airways pilots strike grounds 1,700 flights in latest blow to airline

Nearly all British Airways (BA) flights were grounded by its first ever pilots strike on Monday, disrupting the travel plans of thousands of passengers in a dispute over pay. The action by British Airline Pilots Association (BALPA) members forced BA, part of International Airlines Group (IAG), to cancel 1,700 flights to and from London’s Heathrow […]

Ahold’s CFO to leave company in 2020

Ahold Delhaize (AD.AS), the Dutch-American supermarket operator, said on Monday its chief financial officer will leave the company when his term expires in April 2020. Jeff Carr has served as CFO at Ahold, the largest supermarket operator on the U.S. East Coast, since 2011. He has informed the board he will not seek a third […]

Nissan’s Saikawa bows to pressure, to quit as CEO on September 16

Nissan Motor Co (7201.T) CEO Hiroto Saikawa will resign on Sept. 16, the automaker said on Monday, bowing to pressure after he admitted to being improperly overpaid and marking further upheaval at a company battered by scandal and plunging profit. Saikawa, who admitted to the overpayment of around $440,000 last week, will be temporarily replaced […]