BP becomes last western firm to exit Chinese shale market April 11, 2019 Oil major BP is set to become the last international company to withdraw its Chinese fracking projects, as results fail to live up to expectations, according to reports. The firm follows Shell, Exxon Mobil, Conocophillips and ENI in pulling out of the country, leaving only domestic companies in charge of the sector. Read more: Igas [...]
Carlsberg sparks speculation of new product launch with Twitter marketing campaign April 11, 2019 Carlsberg has quietly launched a tongue-in-cheek marketing campaign on Twitter, sparking speculation the brewer may be gearing up to launch a new product. The Danish firm has begun promoting tweets in which disgruntled customers complain about the quality of Carlsberg’s beer. Read more: Carlsberg cheers hot summer and Chinese sales despite lower growth outlook Comments [...]
Kantar hires Microsoft executive as North America boss April 10, 2019 Market research firm Kantar has appointed Microsoft executive Reed Cundiff as its new chief executive for North America. Read more: Kantar boss suffered punctured lung in Kew stabbing attack Cundiff is taking over from Wayne Levings, who will return to the UK to continue in his role as head of global clients. “Reed understands what [...]
Shareholders sue Boeing for ‘putting profit ahead of safety’ after 737 Max crashes April 10, 2019 Boeing’s legal troubles grew yesterday as a lawsuit accused the plane manufacturer of defrauding shareholders by allegedly hiding the safety issues in its 737 Max plane that led to two fatal crashes. A proposed class action was filed in a Chicago federal court, and seeks damages for alleged securities fraud after the firm’s market value [...]
Uber IPO: Ride-hailing firm seeks to sell $10bn of shares in largest tech float since Alibaba April 10, 2019 Uber could look to sell as much as $10bn worth of stock in its initial public offering (IPO), in a move which would make it one of the biggest tech floats ever. Read more: Morgan Stanley tapped to steer Uber through IPO If successful, the taxi app firm could hail the highest-value IPO since that [...]
Ted Baker creates joint venture to boost expansion in China, Hong Kong and Macau April 10, 2019 Fashion retail brand Ted Baker has announced plans to create a joint venture to further expand in China. Under the agreement Ted Baker’s joint venture (JV) partner Shanghai LongShang will operate its stores and online presence in China, Hong Kong and Macau. Read more: Profits plunge 26 per cent at Ted Baker after 'difficult' year [...]
Chinese aviation experts join US-organised panel looking into safety of Boeing 737 Max range April 9, 2019 China’s aviation authority will join a United States-organised panel to review the safety of Boeing’s 737 Max plane model, in the wake of two deadly crashes in recent months. An official at the Civil Aviation Administration of China (CAAC) told Reuters it will send representatives to sit on the international panel, which is being convened [...]
Total expands battery business as oil majors look beyond global peak oil April 4, 2019 French giant Total has teamed up with a Chinese battery maker, as oil majors around the world work to future-proof their businesses. Total subsidiary Saft signed an agreement with Tianneng Energy Technology to expand their production of lithium-ion batteries. Read more: Shell switches 700,000 customers to renewables as it rebrands First Utility They plan to [...]
European stock markets rise ahead of US-China trade talks April 3, 2019 European stock markets rose today as markets reacted well to upcoming US-China trade talks, and took heart in a growing Eurozone service sector and better-than-expected retail sales. Read more: Global stocks rise with investors optimistic about US-China trade talks Germany’s benchmark Dax index was the biggest climber, rising 1.2 per cent by 1.30pm UK time, [...]
European car makers face €7.4bn bill to meet looming EU emissions rules April 3, 2019 The biggest car manufacturers in Europe are careering towards a €7.4bn crash in profits from the cost of meeting the EU’s emissions rules, UBS has warned. Regulations set to come into effect in 2021 will force car firms such as Volkswagen, BMW and Renault to produce no more than 95g of CO2 per kilometre, but [...]