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July 3, 2020
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Audi boss to head carmaker’s R+D division: sources

Reuters
FILE PHOTO: Markus Duesmann, board member of German luxury carmaker BMW attends the company’s annual news conference in Munich, Germany, March 21, 2018. REUTERS/Michael Dalder MUNICH (Reuters) – Markus Duesmann, the head of Audi (NSUG.DE), will also head the research and development division at German carmaker Volkswagen’s (VOWG_p.DE) premium brand,......
Reuters - Business

Wirecard faces loan crunch over missing $2.1 billion

Reuters
BERLIN (Reuters) – Wirecard’s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending the German payments firm’s shares down over 60% on Thursday as it warned the delay could cause billions in loans to be called in as early as Friday. FILE PHOTO: An......
Reuters - Business

Sharp learning curve for bosses as WFH goes global

Reuters
Two weeks into the coronavirus lockdown and Sergei Holmeckis, a boss at Deutsche Telekom’s Czech operations in the city of Brno, was frustrated with staff video calls. His team didn’t like turning on their cameras and the discussion was stilted. Source – For more click here To Return to the......
Reuters - Business

Australian regulator says Google’s $2.1 billion Fitbit deal could harm competition

Reuters
SYDNEY/BENGALURU (Reuters) – Australia’s antitrust regulator warned Google’s planned $2.1 billion acquisition of fitness tracker maker Fitbit (FIT.N) may give it too much of people’s data, potentially hurting competition in health and online advertising markets. FILE PHOTO: Fitbit Blaze watch is seen in front of a displayed Alphabet logo in......
Reuters - Business

Glass Lewis joins ISS in opposing Tesla chairwoman’s re-election to board

Reuters
(Reuters) – Glass Lewis said on Thursday that it urged Tesla Inc (TSLA.O) investors to vote against re-electing Chairwoman Robyn Denholm to the company’s board, making it the second proxy advisory firm to oppose her appointment. FILE PHOTO: Tesla logo is pictured on a car during electric car E-Rallye Baltica......
Reuters - Business

Glass Lewis opposes Tesla chairwoman’s re-election to Board: Bloomberg News

Reuters
FILE PHOTO: Tesla logo is pictured on a car during electric car E-Rallye Baltica 2019 in Bauska, Latvia July 23, 2019. REUTERS/Ints Kalnins (Reuters) – Proxy-adviser Glass Lewis has urged Tesla Inc (TSLA.O) investors to vote against re-electing chairwoman Robyn Denholm to the company’s board due to an arrangement with......
Reuters - Business

Ex-Morgan Stanley diversity officer says bank slashed her budget by 71%

Reuters
FILE PHOTO: The headquarters of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton NEW YORK (Reuters) – A lawyer representing a former Morgan Stanley (MS.N) diversity officer who is suing the bank over racial discrimination said on Wednesday the bank cut her client’s budget for promoting......
Reuters - Business

HSBC revives 35,000 job cut plan after pandemic pause

Reuters
LONDON (Reuters) – HSBC is resuming plans to cut around 35,000 jobs which it put on ice after the coronavirus outbreak, as Europe’s biggest bank grapples with the impact on its already falling profits. FILE PHOTO: A woman wearing a protective face mask walks past a logo of HSBC bank......
Reuters - Business

HSBC revives plan to axe 35,000 jobs, memo shows

Reuters
FILE PHOTO: A woman wearing a protective face mask walks past a logo of HSBC bank at the financial and business district of La Defense near Paris as France begun a gradual end to a nationwide lockdown due to the coronavirus disease (COVID-19), May 11, 2020. REUTERS/Gonzalo Fuentes LONDON (Reuters)......
Reuters - Business

Cerberus vows no let up in push for change at Commerzbank

Reuters
FRANKFURT (Reuters) – Cerberus will use “alternative paths” to force leadership change at Commerzbank (CBKG.DE) if it continues to resist calls to reform, the activist investor said in a letter to Germany’s second-biggest bank seen by Reuters on Tuesday. FILE PHOTO: A company logo is pictured at the headquarters of......
Reuters - Business

Huawei CFO raises new argument to fight U.S. extradition in Canada court

Reuters
VANCOUVER/NEW YORK (Reuters) – Huawei Chief Financial Officer Meng Wanzhou is raising a new argument in a Canadian court in a bid to fight extradition to the United States on bank fraud charges, court documents released on Monday showed. FILE PHOTO: Huawei Technologies Chief Financial Officer Meng Wanzhou leaves her......
Reuters - Business

Commerzbank preparing to make more job cuts: board member

Reuters
FRANKFURT (Reuters) – Commerzbank (CBKG.DE) will announce “considerably” more branch closures and job cuts when it lays out its strategy review in August, a member of the bank’s supervisory board said on Monday. FILE PHOTO: A company logo is pictured at the headquarters of Germany’s Commerzbank AG during the annual......
Reuters - Business

Commerzbank to cut more jobs, branches: board member

Reuters
FILE PHOTO: A company logo is pictured at the headquarters of Germany’s Commerzbank AG during the annual results news conference in Frankfurt, Germany, February 13, 2020. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – Commerzbank (CBKG.DE) will announce “considerably” more branch closures and job cuts when it lays out its strategy review in......
Reuters - Business

Canada spy agency warned of ‘shock waves’ from arrest of Huawei founder’s daughter

Reuters
FILE PHOTO: Huawei Technologies Chief Financial Officer Meng Wanzhou leaves her home to attend a court hearing in Vancouver, British Columbia, Canada May 27, 2020. REUTERS/Jennifer Gauthier TORONTO (Reuters) – Canada’s intelligence agency warned that arresting the daughter of billionaire Huawei founder Ren Zheng would set off global “shock waves”......
Reuters - Business

Volkswagen blames cultural insensitivity for ad criticised as racist

Reuters
FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) on Thursday apologised for posting on its Instagram page last month an advert widely criticised as racist, and said it was published because of a lack of cultural sensitivity. FILE PHOTO: People pass in front of a Volkswagen logo ahead of the Shanghai Auto Show,......
Reuters - Business

Unilever plans switch to UK holding company to cut complexity

Reuters
(Reuters) – 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. FILE PHOTO: Traffic and people pass by the front of the Unilever building in central......
Reuters - Business

Nokia names new finance chief in management revamp

Reuters
FILE PHOTO: The logo of Nokia is seen before the company’s news conference in Espoo, Finland March 2, 2020. Lehtikuva/Markku Ulander via REUTERS (Reuters) – Finnish telecoms equipment maker Nokia (NOKIA.HE) named a new finance chief on Thursday, completing an overhaul of its top executive team as it battles rivals......
Reuters - Business

U.S. companies vow to fight racism but face critics on diversity

Reuters
(Reuters) – In the past, U.S. corporations have largely remained silent as protests erupted over killings of African-Americans by police officers. That changed with the May 25 death of George Floyd in Minneapolis, which has set off a flurry of corporate statements of solidarity with the black community – along......
Reuters - Business

Men accused of helping ex-Nissan boss flee Japan challenge U.S. extradition case

Reuters
BOSTON (Reuters) – Lawyers for the former Green Beret and son wanted by Japan for helping former Nissan Motor Co (7201.T) boss Carlos Ghosn flee the country on Monday argued U.S. authorities wrongly arrested them for aiding a crime that they say does not exist in Japan: bail jumping. FILE......
Reuters - Business

British financier Staveley’s $2 billion Barclays lawsuit hits High Court

Reuters
LONDON (Reuters) – British buinesswoman Amanda Staveley’s private equity firm told London’s High Court on Monday it had received a “substantially worse” deal than Qatar when its syndicate invested billions of pounds in Barclays (BARC.L) during the financial crisis in 2008. FILE PHOTO: Barclays’ building in Canary Wharf is seen......

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