Changing of the guard: China Vanke founder Wang Shi steps down
HONG KONG (Reuters) – China Vanke Co Chairman Wang Shi, one of the best known people in Chinese business, will step down from the board after a years-long power struggle saw the nation’s No.2 property developer fall under state control.
Tesla’s autopilot software head quits in less than six months
(Reuters) – Tesla Inc said the head of its autopilot software, Chris Lattner, left the company in less than six months since joining the electric carmaker.
Toshiba picks Bain-Japan government group to buy chip unit, big hurdles remain
TOKYO (Reuters) – Toshiba Corp has chosen a consortium of Bain Capital and Japanese government investors as the preferred bidder for its chip business, aiming to seal a deal worth some $18 billion by next week as it scrambles for funds to cover massiv…
Exclusive: Payless settles creditor dispute over dividends – sources
(Reuters) – Payless ShoeSource Inc settled a dispute with its creditors on Tuesday, after creditors alleged that the company’s private equity owners inappropriately siphoned off $400 million before the U.S. retailer’s bankruptcy, people familiar with t…
Oil drops to 10-month low; biggest first-half slide in 20 years
NEW YORK (Reuters) – Oil prices ended down more than 2 percent on Wednesday after hitting a 10-month low in volatile trade, as growing U.S. production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut.
Oil spill sends global stocks, bond yields sliding
LONDON (Reuters) – A renewed slump in oil prices to seven-month lows dragged down world stocks on Wednesday and flattened bond curves as bets that inflation and interest rates will stay lower for even longer began to build again.
U.S. Supreme Court ruling threatens massive talc litigation against J&J
(Reuters) – Johnson & Johnson is seizing upon a U.S. Supreme Court ruling from Monday limiting where injury lawsuits can be filed to fight off claims it failed to warn women that talcum powder could cause ovarian cancer.
Oil firms could waste trillions if climate targets reached: report
LONDON (Reuters) – Oil giants including Exxon Mobil and Royal Dutch Shell risk spending more than a third of their budgets by 2025 on oil and gas projects that will not be feasible if international climate targets are to be met, a thinktank says.
As iPhone 8 looms, firms scramble to lock up memory chip supply
SEOUL (Reuters) – Global electronics makers are scrambling to stock up on memory chips to keep production lines running as Apple Inc’s new iPhone 8 launch later this year threatens to worsen a global squeeze on supply.
Japan Inc says shrinking domestic market, worker shortage are biggest headaches
TOKYO (Reuters) – Japanese firms say shrinking domestic demand is their biggest worry over the next three years while labor shortages are a close second, a Reuters poll found, highlighting the difficulties of coping with a dwindling and rapidly aging p…
