Outside panel to review Samsung heir Lee’s case: Seoul prosecutors
An outside panel will weigh the validity of an investigation into Samsung Group heir Jay Y. Lee over a 2015 merger and alleged accounting fraud, the Seoul Central District Prosecutors’ Office said on Thursday.
Renault nationalisation, state cash injection not on the table: chairman
A further investment by the French government in Renault’s capital would not be the most pertinent or useful use of state resources, the carmaker’s chairman said on Thursday, adding that nationalisation of the firm was not being contemplated.
Biting passenger delays flight? No compensation needed, says EU court
Airlines don’t need to compensate passengers if a flight is delayed by one person biting another as it is an “extraordinary circumstance”, the EU’s top court ruled on Thursday after a customer sued Portuguese airline TAP over such an incident.
Lloyds Bank fined $81 million for overcharging mortgage customers
Britain’s biggest domestic bank Lloyds has been fined 64 million pounds ($81.2 million) by the Financial Conduct Authority for mistreating hundreds of thousands of mortgage customers in financial difficulties.
SoftBank buyback puts financial rigour in question, says S&P
Credit-rating firm S&P Global Ratings on Thursday questioned SoftBank Group Corp’s financial discipline as the tech conglomerate pursues a massive 2.5 trillion yen ($24 billion) share buyback program in volatile markets.
Unilever plans switch to UK holding company to cut complexity
Unilever proposed collapsing its Anglo-Dutch legal structure into a single holding company based in Britain on Thursday, nearly two years after shareholders sank an earlier plan to move its headquarters to the Netherlands.
Renault’s Senard says relations with Nissan much improved
Renault ‘s partnership with Japan’s Nissan has entered an “incredibly positive” phase after episodes of strained relations in recent years, the French carmaker’s chairman Jean-Dominique Senard said on Thursday.
Just Eat Takeaway’s Grubhub grab tests expansion appetite
Just Eat Takeaway’s proposed $6 billion takeover of Grubhub to create a trans-Atlantic giant that could thwart Uber’s food delivery ambitions has raised concerns among some analysts about the pace of the European company’s expansion.
British Airways to put artworks on sale in COVID-19 cash crunch
British Airways will sell at least 10 works of art from its extensive collection, a source said, to try to raise millions of pounds to boost its cash reserves as it struggles through the coronavirus pandemic.
Oil prices hit by record U.S. crude inventories, bearish Fed
Oil prices fell on Thursday, hit by another record build-up in U.S. crude inventories and the U.S. Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year.
