Sainsbury’s CEO Coupe to be replaced by retail boss Roberts
Mike Coupe will step down as CEO of Sainsbury’s at the end of May after six years at the helm, with Britain’s second largest supermarket group opting for continuity by choosing retail director Simon Roberts as his successor.
Oil slides as IEA predicts surplus, Libya disruption concerns fade
Oil prices dropped on Wednesday as the International Energy Agency’s (IEA) forecast of a market surplus in the first half of this year was enough to cancel out concerns about military disruptions that have slashed Libya’s crude output.
Facebook spurred central banks to study digital currencies: former Japan central banker
The challenge posed by Facebook’s Libra cryptocurrency likely prodded major central banks to set up a new group to study the potential for issuing their own digital currencies, a former Bank of Japan executive said on Wednesday.
Exclusive: BP’s Looney goes all-in on climate goals and explores overhaul
Change is afoot at BP. Incoming Chief Executive Bernard Looney plans to expand the company’s climate targets and is considering overhauling the structure of the oil and gas major in one of the biggest shake-ups in its 111-year history.
Cathay says cabin crew can wear masks on mainland China flights due to virus
Hong Kong’s Cathay Pacific Airways Ltd will allow cabin crew to wear a surgical mask while operating mainland China flights due to concerns over a new coronavirus, and passengers to Wuhan to change or cancel flights without charge through Feb. 15.
BlackRock built 5% stake in ex-Toshiba unit at center of takeover battle: filing
BlackRock Inc has built a 5.12% stake in Toshiba Machine , a former Toshiba Corp subsidiary that has been targeted by Japan’s most prominent activist investor, according to a regulatory filing by the U.S. asset manager.
ValueAct CEO Jeff Ubben to step down: Financial Times
ValueAct Capital Partners LP’s founder Jeff Ubben is stepping down as chief executive officer and will be replaced by the activist hedge fund’s president, Mason Morfit, the Financial Times reported on Wednesday.
Asian stocks bounce as investors welcome China virus response
Asian stock markets recovered ground on Wednesday as China’s response to a virus outbreak tempered some fears of a global pandemic, although Shanghai shares initially slipped amid worries about a hit to domestic demand and tourism.
‘Death Cross,’ growth abroad threaten U.S. dollar
Storm clouds are gathering over the U.S. dollar, threatening a two-year rally in the currency that has squeezed corporate profits and angered President Donald Trump.
Hyundai fourth-quarter profit beats view on brisk SUV sales, shares jump 5%
South Korea’s Hyundai Motor Co reported a better than expected quarterly operating profit, helped by brisk sales of sport-utility vehicles such as its Tucson and Palisade models.
