Hyundai may finally be ready to tinker with its chaebol setup. The South Korean company warned of another $2.9 billion charge for engine troubles, but electric vehicles should propel its upcoming financial results. That would provide the necessary momentum for a broader restructuring.
The headline number in Goldman Sachs’s settlements on Thursday over the 1MDB bribery scandal is the $3 billion or so it agreed to pay to regulators from Washington to Hong Kong. There’s a smaller number, though, that’s arguably much more significant. Goldman plans to claw back around $174 million from current and former executives. The catch is that not all the money is still within the firm's control.
福利网站Mukesh Ambani can divide his $200 bln Reliance Industries and still rule, says India editor Una Galani. Meantime, European and U.S. multinationals are growing increasingly reliant on Chinese growth, seeding future financial and political risks, Rob Cox and columnists discuss.
福利网站“Nice business you have got here, it would be a shame if something happened to it.” What sounds like a bad line from a mafia television sketch is pretty much the dilemma facing Western multinationals in China.
International Airlines Group boss Luis Gallego won’t be the only airline chief executive bracing for a wretched Christmas. Barely six weeks into the job, the Spaniard revealed that the parent of British Airways and Iberia lost 1.3 billion euros in the third quarter, and would not break even in the next three months due to rising infections and renewed travel restrictions. Dashed hopes are becoming aviation’s default setting.
福利网站Crony capitalism was a losing bet at Crown Resorts. Regulatory inquiries into the $4 billion Australian casino operator exposed a board that was too cosy with billionaire founder James Packer, and failed to provide proper oversight. They’re the wrong people to lead the company out of a scandalous mess that has put a gambling licence for its luxurious new Sydney hotel in jeopardy.
福利网站The naming of names for Bill Ackman’s special purpose acquisition company just got more interesting. On Tuesday, the New York Post reported that the hedge fund manager’s blank-check vehicle wanted to take a stake in the former New York mayor Mike Bloomberg’s eponymous media empire, something Bloomberg LP dismisses. It’s true that Ackman’s $5 billion war chest can hook a big fish by taking a small stake in a company. But large, well-known private firms don't nee
The U.S. Food and Drug Administration on Thursday approved Gilead Sciences's antiviral drug remdesivir for treating patients hospitalized with COVID-19, making it the first and only drug approved for the disease in the United States. Gavino Garay reports.
福利网站U.S. President Donald Trump and Democratic challenger Joe Biden offered sharply contrasting views on the still-raging coronavirus pandemic at Thursday's final presidential debate, seeking to persuade the few remaining undecided voters 12 days before their Nov. 3 contest.