Shares of Walt Disney Co fell 2% on Wednesday after the media giant’s surprise move to replace top boss Bob Iger raised questions on Wall Street if his successor Bob Chapek had sufficient experience in the entertainment business.
BP will leave the main U.S. refining lobby and two other trade groups as new CEO Bernard Looney spurs some of the oil sector’s most ambitious targets for curbing carbon emissions.
The jury in the London trial of three former Barclays bankers accused of funneling secret fees to Qatar in return for emergency funding during the financial crisis in 2008, retired to consider its verdict on Wednesday.
U.S. crude dropped below $50 on Wednesday to its lowest since January 2019, as Asia, Europe and oil-producing countries in the Middle East reported hundreds of new coronavirus cases and the United States warned of an inevitable pandemic.
Ford Motor Co’s incoming chief operating officer outlined his priorities for the company’s turnaround on Wednesday, including cost cuts and more efficient new-vehicle launches in a year in which it will introduce a redesigned F-150 full-sized pickup truck. Other key plans include speeding up Ford’s push in vehicle connectivity and its commercial vehicle business, strategy chief Jim Farley, who begins his role as Ford COO on March 1 after being appointed earlier this month, said at a Wolfe Research conference in New York. Ford has acknowledged that mistakes proved costly in its introduction of the redesigned Explorer …read more […]
Ford Motor Co’s incoming chief operating officer will outline on Wednesday his priorities for the company’s turnaround, including cost cuts and more efficient new-vehicle launches in a year that includes the introduction of a redesigned F-150 full-sized pickup truck. Strategy chief Jim Farley, who begins his role as Ford COO on March 1 after being appointed earlier this month, is scheduled to speak at a Wolfe Research conference in New York early on Wednesday. Slides for his presentation showed other key parts of his strategy, include speeding up Ford’s push in vehicle connectivity and its commercial vehicle …read more […]
Headlines moving the stock market in real time. …read more […]
Enphase Energy, Inc. (NASDAQ:ENPH) shareholders might be concerned after seeing the share price drop 11% in the last… …read more […]
BP said it will leave three U.S. petroleum industry trade groups, including the country’s main refining lobby, due to differences over climate change policy. The decision comes after BP Chief Executive Officer Bernard Looney, who took office earlier this month, set one of the oil sector’s most ambitious targets for curbing carbon emissions, with a vow to “re-invent” the 111-year old company in the face of the climate challenge. The world’s top oil and gas companies are under heavy pressure from investors and climate activists to meet the 2015 Paris climate goal of limiting global warming to below …read more […]
Apple Inc’s shareholders on Wednesday will vote on a proposal critical of its moves to remove apps at the request of the Chinese government and calling on the iPhone maker to report whether it has “publicly committed to respect freedom of expression as a human right.”
(Bloomberg) — Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government.The global oil major plans to drill four wells this year, and a similar amount next year, said Alberto de La Fuente, Shell’s Mexico country chief. It’s part of a drilling campaign that will include 10 to 13 wells and cost from $800 million to $2.4 billion.Shell has a major position in Mexico’s deep-waters at a time when access is hard to come by. Mexico’s new government under Andres Manuel Lopez Obrador, also …read more […]
Bayer Chairman Werner Wenning, one of the architects of a $63 billion takeover deal that has left the German crop protection company fighting costly lawsuits, will step down in April, it said on Wednesday.
It is still too early to assess the impact of the coronavirus outbreak on the European Union economy, the bloc’s economics commissioner Paolo Gentiloni said on Wednesday, adding that the bloc’s fiscal rules allow for more spending in emergencies.
(Bloomberg) — Markets are overreacting to the threat of the rapidly spreading coronavirus and the global economy will only see a short-term impact, said the head of Allianz SE, Europe’s biggest insurer.Chief Executive Officer Oliver Baete said the firm was more concerned about the safety of its clients than any impact to its business, in an interview with Bloomberg Television’s Anna Edwards in London. He compared the virus with a “strong flu,” saying it hadn’t yet become a pandemic.“There’s a lot of panic at that moment that’s not warranted,” said Baete. “Short-term economic activity will contract and it will have …read more […]
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