‘Nut rage’ fallout: Korean Air chief ousted from board in landmark vote
Korean Air Lines Co Ltd shareholders removed chief executive Cho Yang-ho from its board in a landmark vote on Wednesday, making him the first founding family member of any South Korean corporate giant to be forced off a board.
Asian shares steady as investors weigh U.S. recession risk; kiwi plunges
Asian shares held steady on Wednesday as investors tried to come to terms with a sharp shift in U.S. bond markets and the implications for the world’s top economy.
With Fed pause, list of potential Asia rate cutters grows
A slowing global economy and abrupt end to Federal Reserve policy tightening have shifted rate cut expectations in Asia to probable from possible, with the market betting on moves by a growing list of central banks.
Renault aims to restart Nissan merger talks within 12 months: FT
France’s Renault SA intends to restart merger talks with Japan’s Nissan Motor Co Ltd within 12 months, after which it will set sight on a bid to buy Fiat Chrysler Automobiles NV, the Financial Times reported on Wednesday.
Amazon, Volkswagen agree strategic partnership for ‘industry cloud’: report
German carmaker Volkswagen and Amazon.com Inc have agreed on a strategic partnership to create a kind of “industry cloud”, for which details will soon be announced, Germany’s Sueddeutsche newspaper reported on Wednesday.
Great Wall, Ford hitch up to burgeoning Chinese demand for pickup trucks
Grey Liu bought his third vehicle four months ago – a Foton pickup truck, lured by its $7,000 price tag and its ability to transport his sports motorcycle to the grasslands of northern China where he likes to ride.
Exclusive: U.S. pushes Chinese owner of Grindr to divest the dating app – sources
Chinese gaming company Beijing Kunlun Tech Co Ltd is seeking to sell Grindr LLC, the popular gay dating app it has owned since 2016, after a U.S. government national security panel raised concerns about its ownership, according to people familiar with …
China’s industrial profits shrink most since late 2011 as economy cools
China’s industrial firms posted their worst slump in profits since late 2011 in the first two months of this year, data showed on Wednesday, as increasing strains on the economy in the face of slowing demand at home and abroad took a toll on businesse…
Asian shares lose steam on U.S. recession fears; kiwi dives on RBNZ signal
Asian shares slipped on Wednesday, giving up small gains made the previous day as investors tried to come to terms with a sharp shift in U.S. bond markets and the implications for the world’s top economy.
Korean Air shareholders oust tycoon from board in landmark vote
Korean Air Lines Co Ltd shareholders rejected an extension for CEO Cho Yang-ho as director in a landmark vote on Wednesday, ending his 27-year tenure on the board of South Korea’s biggest carrier and sending its shares higher.
