Business

The CEO of Italy’s largest utility firm says he’s been left stunned by the tactics deployed by Spain’s Iberdrola, amid a bitter feud over Brazil’s largest power distributor. Europe’s top two utilities, Enel and Iberdrola, are in the midst of a fierce battle to secure the assets of Brazil’s Electropaulo. The South American grid operator
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United Continental Holdings has selected former Federal Aviation Administration chief Jane Garvey as board chair, making her the first woman to lead the company’s directors, the carrier said on Thursday. “Jane steps into this critical role bringing with her decades of experience as both a leader and pioneer in our industry,” United Chief Executive Oscar
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When it comes to business advice, there are few people better placed to bestow their wisdom than Jack Ma, the billionaire founder of Chinese e-commerce giant Alibaba. Good job, then, that he set up a university to share tips on the meteoric rise of one of the group’s leading companies, Taobao. Situated in Hangzhou, China,
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Britain’s Marks & Spencer said on Wednesday it urgently had to modernize or risk fading away as it reported a second straight decline in annual profit and booked a 321 million pounds ($430 million) charge for a store closure programme. The 134-year-old M&S faces unrelenting competition from supermarkets, fashion chains like Zara, H&M and Primark,
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This Thursday, the Verkhovna Rada (the parliament of Ukraine) considers a historic proposal to replace 25-year-old foreign exchange legislation with an entirely new law that will open our country to international investors and make it easier for Ukrainian businesses to operate globally. Technical though it may seem, liberalization of our arcane foreign exchange controls will
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It’s been quite a journey going from being born on a commune to raising more than $87 million in funding at a software company. It’s one that has forced me to wrestle with existential questions about my true beliefs, and how they intersect with my life as an entrepreneur. One’s work is rarely a pure
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Jason Alden | Bloomberg | Getty Images Vittorio Colao, chief executive officer of Vodafone Group Plc, poses for a photograph in London, on Monday, Sept. 2, 2013. Vodafone Chief Executive Vittorio Colao will step down in October after 10 years in which he reshaped the world’s second largest mobile operator into a digital communications powerhouse
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J.P. Morgan Chase & Co said on Monday it had appointed Mark Leung as the chief executive of its China business. A veteran who’s been with the bank for 21 years, Leung will manage onshore and offshore activities in the country. He started his career in rates derivatives trading and has held trading roles in
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The federal tax overhaul cut taxes for millions of American families and businesses. But the law also had an unintended effect: raising the state-tax bite in nearly every state that has an income tax. Now, governors and state legislators are contending with how to adjust their own tax codes to shield their residents from paying
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AT&T on Friday ousted its top lobbyist, and the No. 2 wireless carrier’s chief executive said it was a “big mistake” to hire Michael Cohen, President Donald Trump’s personal attorney, for advice on working with the Trump administration. AT&T paid Essential Consultants, a firm set up by Cohen, a total of $600,000 over 2017 for
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Also, she’s asked that shareholders vote against approving the company’s executive compensation plan — the so-called say on pay. Three independent proxy advisory firms — Institutional Shareholder Services, Egan-Jones Proxy Services and Glass Lewis & Co. — have come out in support of her position on rejecting the say-on-pay proposal and to withhold votes from
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Even some potential victims of modernisation have been borne in mind. Mikael Karlsson, a former driver and football coach, displays a fan of glossy homeless charity magazines and sports an ID badge with a QR code. Anyone wanting to buy a copy just has to scan the code with their app. “When I started, I
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Ford Motor could resume production of its best-selling F-150 pickups as early as Friday, May 18 in Dearborn and Kansas City, according to a source familiar with the automaker’s plans. Ford shut truck plants in Michigan, Missouri and Kentucky earlier this week because of parts shortages caused by a supplier fire in Michigan. Also on
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Instagram | Elon Musk The new “Block 5” variation of SpaceX’s Falcon 9 rocket, rolling out to launchpad 39A at Kennedy Space Center, Florida. Being able to launch, land and launch again with minimal refurbishment between flights has been a central focus for SpaceX. The company has become quite successful at landing the largest part
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Abbie has enjoyed a brilliant start to her new job as a junior fund manager at AllianceBernstein, a $500bn investment group in New York. In her first three months she has handled thousands of bond trades worth nearly $19bn, never complaining, messing up or even taking a break. That’s because she is an algorithm. AllianceBernstein’s
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Reactions are split on California’s decision to mandate solar panels on new homes in the state. The measure, approved by California regulators in a unanimous decision on Wednesday, will require all new residential buildings, including apartments and condos that are three stories or fewer, to have rooftop solar panels starting in 2020. The California Energy
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