Adidas CEO faces down investor unrest over Nike advance
FUERTH, Germany (Reuters) – The long-serving chief executive of German sportswear company Adidas sought to rebuff criticism of his leadership from shareholders on Thursday, as the firm struggles to stop the advance of market leader Nike .
Glencore names ex-BP boss Tony Hayward as chairman
LONDON (Reuters) – Glencore Xstrata named Tony Hayward, the ex-BP chief severely criticized for his role in the Gulf of Mexico oil spill, as permanent chairman of the mining and commodities trading group, ending a year-long search.
Apple’s head of North America sales to depart
(Reuters) – Apple Inc’s head of North America sales, Zane Rowe, will leave the company and will be replaced by Doug Beck, who oversees sales in Japan and Korea.
StanChart says weak first-quarter continued in April and May
HONG KONG/LONDON (Reuters) – Asia-focused bank Standard Chartered posted a drop in first-quarter profit, hurt by lower investment bank revenues, weaker Asian currencies and ongoing problems at its South Korean business.
Two more Chinese banks to close bitcoin trading accounts
SHANGHAI (Reuters) – China Guangfa Bank and Shanghai Pudong Development Bank Co Ltd said they had banned their customers from using bank accounts for trading bitcoins, the latest blow to the virtual currency trading business in China.
Samsung Elec replaces mobile design head
SEOUL (Reuters) – Samsung Electronics Co Ltd, the world’s biggest handset maker, has replaced the head of its mobile design team amid criticism of the latest Galaxy S smartphone.
SEC ends probe of Chesapeake, ex-CEO McClendon; no action planned
(Reuters) – Chesapeake Energy Corp said on Wednesday the U.S. Securities and Exchange Commission has ended its probe against the company and its former chief executive Aubrey McClendon.
Tesla outlook disappoints some on Wall St, shares drop 7 percent
DETROIT (Reuters) – Tesla Motors Inc , led by billionaire Elon Musk, on Wednesday offered an outlook for the second quarter that disappointed some investors, sending shares of the electric car maker down more than 7 percent in after-hours trading.
U.S. government: no need for recalled GM cars to be pulled off the road
WASHINGTON (Reuters) – The U.S. Department of Transportation has rebuffed a call by two Democratic senators to advise owners of 2.6 million recalled General Motors cars to stop driving them until they are repaired.
Yellen cites housing, geopolitical tensions as economic risks
WASHINGTON (Reuters) – A slumping housing market and geopolitical tensions risk undermining the U.S. economy and bear close watching by the Federal Reserve, the central bank’s chief said on Wednesday.
