The Pleo app pictured on a smartphone next to one of the fintech firm’s corporate cards. Pleo Danish fintech firm Pleo has appointed a new chief financial officer, the company told CNBC exclusively, beefing up its executive team — a sign the company is readying itself for an eventual initial public offering. The company hired … Read more
Ford Motor ‘s decision to cut production of its electric pick-up allows the automaker to refocus its strategy around its highly profitable hybrid vehicles, which in turn should boost its underperforming stock. Ford said Monday it’s cutting in half planned production of its all-electric F-150 Lightning pick-up truck next year due to moderating consumer demand. … Read more
A Southwest Airlines Boeing 737-700 aircraft lands at Ronald Reagan Washington National Airport in Arlington, Virginia, May 7, 2023. Nicolas Economou | Nurphoto | Getty Images Southwest Airlines and its pilots union are closing in on a new contract that would raise pay for the carrier’s more than 11,000 aviators and end months of contentious … Read more
Marcos del Mazo | LightRocket | Getty Images Clothing brand Zara pulled an advertising campaign that swathes of online commenters said evoked the destruction in Gaza. Following several days of fierce criticism across social media platforms Instagram, X (formerly Twitter) and TikTok, the company said it was removing its campaign, titled “The Jacket.” Pictures posted … Read more
Mumbai: Equity benchmark indices maintained their winning run in early trade on Tuesday, with the benchmark Nifty hitting its fresh all-time high level, amid an optimistic trend in global markets, continuous foreign fund inflows and favourable macroeconomic data. The 30-share BSE Sensex climbed 96.15 points to 70,024.68 in early trade. The Nifty went up by … Read more
A worsening macroeconomic climate and the collapse of industry giants such as FTX and Terra have weighed on bitcoin’s price this year. STR | Nurphoto via Getty Images Bitcoin fell Monday as investors took profits after its December rally. The price of the cryptocurrency was recently lower by about 5% at $41,557.62, according to Coinbase, … Read more
HAIAN, CHINA – NOVEMBER 7, 2023 – A crab farmer sells crabs via a live webcast at Xinhai village in Haian city, Jiangsu province, China, Nov 7, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images BEIJING — Livestream shopping is taking off in China, driving development of new tech products … Read more
The incoming head of one of the world’s largest development banks says it must become faster and more efficient in order to finance priorities such as the climate transition and Ukraine rebuild. Nadia Calviño, Spain’s finance minister and deputy prime minister, was appointed head of the European Investment Bank Friday — in what has been touted … Read more
Around 15 years after Airbnb began, EU institutions are in the process of giving their final approvals to the world’s first template on how to regulate our platform and industry. We not only welcome this watershed moment as an opportunity to begin a new chapter in our relationships with governments, but we believe the leadership … Read more
Alaska Air Group has agreed to buy rival Hawaiian Airlines in a $1.9 billion deal, setting up another potential regulatory battle in the second proposed airline merger in less than two years. Alaska would pay $18 a share for Hawaiian and would take on $900 million of its debt, the companies said Sunday. Shares of … Read more
