Sterling has extended its rally against the dollar to rise above $1.40 for the first time since the Brexit vote. Analysts said the pound’s recovery was helped by falls in the dollar and a rethink by some investors about the UK’s economic prospects. Others said that despite little development […]
(Reuters) – Wall Street banker turned Silicon Valley executive Anthony Noto has left Twitter Inc (TWTR.N) to become chief executive officer of online lender Social Finance Inc, the companies said on Tuesday.
The move sowed fresh doubts that the microblogging site will be able to pull off an ambitious turnaround plan and eventually make a profit, and renewed speculation about SoFi possibly pursuing an initial public offering.
MONTREAL (Reuters) – Bombardier (BBDb.TO) risks losing a hotly-contested U.S. trade dispute on Thursday which would effectively bar its CSeries jet from the United States for at least a year, a potential setback as the Canadian plane-and-train maker races to meet its 2018 delivery targets and attract sales from American carriers.
The International Trade Commission’s (ITC) ruling this week is unlikely to put an end to months of wrangling between Boeing Co (BA.N), the world’s largest maker of jetliners, and Bombardier, along with Canada and the United Kingdom, which have sided with the smaller planemaker.
The Boeing-Bombardier trade dispute has cast a shadow over the ongoing North American Free Trade Agreement (NAFTA) modernization talks, which entered its sixth round this week in Montreal.
Elon Musk, founder of the electric carmaker Tesla, has agreed a new salary package based on it becoming one of the world’s most valuable companies. His pay will be tied to growth in Tesla’s stock market value, starting at $100bn (£72bn) and rising to $650bn. To receive maximum renumeration, Tesla – now valued at $60bn – would have to be six times bigger than Volkswagen. As well as growth in Tesla’s market value, Mr Musk’s pay will also be linked to 12 revenue and profit goals. The plan needs to be signed off by shareholders in a vote in March.
Kleenex-maker Kimberly-Clark has said it will close or sell 10 manufacturing plans and cut at least 5,000 jobs, about 12% of its workforce. The move comes as the Texas company struggles to lift sales. In the fourth quarter of 2017, sales rose by just 1%. Kimberly-Clark said the restructuring programme would streamline its supply chain, saving at least $500m by the end of 2021. The savings are in addition to a plan to reduce costs by $1.5bn in that time. Kimberly-Clark chief executive Thomas J Falk said: “Although we expect market conditions will remain challenging in the near-term, we plan to deliver better results in 2018 while we begin to implement our new restructuring.”