CEO of Chinese e-commerce giant JD.com steps down after just one year as company swings to profit
JD.com CEO Xu Lei will be replaced by Sandy Ran Xu, the current chief financial officer of the Chinese e-commerce giant.
Why Airbus and others are betting on hydrogen-powered planes instead of electric planes
Aircraft are responsible for 2.5% of global CO2 emissions and the problem is growing. Hydrogen could be a solution, drawing interest from Airbus and startups.
The Ukraine war is driving a wedge between Moscow and its mercenaries — and the Kremlin knows it
Prigozhin’s very public criticism of Russia’s military leadership this week has made it impossible for the Kremlin to ignore.
Saudi Aramco sees slowed progress on planned IPO of trading unit, sources tell Reuters
Saudi Aramco has seen progress slow for the planned initial public offering of its energy trading unit, two sources with knowledge of the matter said on Thursday.
Bank of England hikes rates by 25 basis points, no longer sees recession
The Bank of England on Thursday hiked interest rates by 25 basis points and upgraded its projections for the U.K. economy.
Dubai-based airline Emirates logs record profits of $3 billion as passenger numbers surge by 123%
Emirates posted a $1.1 billion loss in May 2022, following a $5.5 billion loss in May 2021, as the airline was heavily impacted by the Covid-19 pandemic and soaring fuel prices.
German minister calls for maturity on U.S. debt ceiling talks: ‘We have to avoid further risks’
Time is running out for an agreement, with U.S. Treasury Secretary Janet Yellen warning earlier this month that without a deal, the largest economy in the world could default by June 1.
Two dead in shooting at Mercedes plant in Germany
Two people were killed in a shooting at the Mercedes-Benz Daimler factory in Sindelfingen, southern Germany on Thursday, local German police said.
Wagner chief says Ukraine’s counteroffensive has started; Kyiv says it needs more time and arms
Fighting in the besieged town of Bakhmut has returned to the fore of discussions over the war, with Ukraine saying it’s reclaiming territory there.
Yellen says it should be ‘unthinkable’ for the U.S. to default on its debt
U.S. Treasury Secretary Janet Yellen spoke to reporters ahead of the G-7 finance ministers and central bank governors meetings in Niigata, Japan.
