DETROIT (Reuters) – General Motors Co ( GM.N ) on Tuesday posted better-than-expected quarterly results as cost-cutting and higher vehicle prices offset a double-digit decline in U.S. sales volume and said it expected 2018 would be a strong year globally and in North America, sending its stock up more […]
SINGAPORE (Reuters) – The world’s largest planemakers signaled a possible increase in output of their most popular passenger jets on Tuesday, highlighting their confidence about growth in demand for air travel. Although new orders have dwindled following a seven-year boom, executives at the Singapore Airshow suggested Airbus (AIR.PA) and Boeing (BA.N) have enough business in their bulging order books to speed up their already-record production of narrowbody jets.
“The success of the product is forcing us to look at any opportunities we have to improve the rate. We have not come to any conclusion yet but this is something we are looking at very closely,” Airbus sales chief Eric Schulz told a news conference.
Schulz, making his first appearance since being recruited from Rolls-Royce to replace retired sales chief John Leahy, shrugged off concerns about the ability of the supply chain to keep up with higher production rates.
SAN FRANCISCO (Reuters) – Uber’s ex-Chief Executive Travis Kalanick must subdue his notorious hot-headed demeanor and calmly withstand hostile questioning to appear sympathetic to jurors when he is cross-examined by Alphabet Inc’s (GOOGL.O) Waymo as early as Tuesday during a trade-secrets trial, legal experts said. Waymo sued Uber Technologies Inc a year ago over allegations of theft of self-driving car trade secrets. Waymo said that one of the company’s former engineers, Anthony Levandowski, downloaded more than 14,000 confidential files containing designs for autonomous vehicles before he went on to work at Uber, leading the ride-hailing firm’s self-driving car unit.
During opening statements in San Francisco federal court on Monday, Waymo attorney Charles Verhoeven attempted to focus the 10-person jury on Kalanick and his famously pugnacious style. One internal Uber document from April 2016 that Waymo presented in court shows a list of Kalanick’s priorities that had been recorded by another executive. Kalanick wanted to use “cheat codes” against competitors, and he declared “the golden time is over. It is war time” and that “going slower is NOT an option anymore,” according to the document.
Keith Cochrane, Carillion’s interim chief executive, tells the committee looking into the contractor’s collapse that he was “seeking to do the best thing for the business”.
The trial of three former Tesco executives charged with fraud and false accounting has been abandoned. Chris Bush, Tesco’s former UK boss, John Scouler, Tesco’s former commercial food director and Carl Rogberg, its former UK finance boss have been on trial for more than four months. It emerged on Tuesday that Mr Rogberg had a heart attack last Thursday. The Serious Fraud Office will decide in early March whether to pursue a re-trial. The men deny the charges. Mr Rogberg, aged 51, remains in hospital awaiting surgery.Discharging the jury, Judge Deborah Taylor said: “It wouldn’t be right or proper to continue with this trial.”