Business

Goldman names new co-heads of EMEA investment banking division

Goldman Sachs GS.N has named Gonzalo García and Anthony Gutman as co-heads of its investment banking division in Europe, Middle East and Africa. The memo, signed by co-heads of global investment banking Gregg Lemkau and Dan Dees, said García and Gutman would work closely with Wolfgang Fink, chief executive officer of Goldman Sachs Bank Europe, […]

Business

Fiat Chrysler shares boosted by PSA merger deal revision

Shares in Fiat Chrysler (FCA) rose sharply in Milan on Tuesday after the car maker and French partner PSA revised the terms of their merger deal, with FCA’s shareholders getting a smaller cash payout but a stake in another business. FCA and PSA, which last year agreed to merge to give birth to Stellantis, the […]

Business

Delta can avoid most job cuts but still supports more gov’t aid, CEO says

Delta Air Lines DAL.N will avoid involuntary furloughs for frontline employees on Oct. 1 except for pilots, but will continue to reduce work hours and executive pay through the end of the year, Chief Executive Ed Bastian said in a memo to employees on Tuesday. Delta’s major rivals American Airlines AAL.O and United Airlines UAL.O […]

Business

Tesla shares rally again, boosted by ‘Battery Day’ excitement

Tesla Inc’s stock was set for a fifth consecutive session of gains as anticipation heats up for its “Battery Day” event next week, recouping some of its recent valuation slump following a sell-off and surprise exclusion from the S&P. The company’s shares were up as much as 4.4% at $437.89 in early trading on Tuesday, […]

Business

U.S. manufacturing production increases in August

U.S. factory output increased solidly in August, though momentum is slowing as the COVID-19 pandemic drags on. The Federal Reserve said on Tuesday that manufacturing production rose 1.0% last month after surging 3.9% in July. Economists poll had forecast manufacturing output would rise 1.2% in August.

Business

EY to ‘raise bar’ in spotting fraud after Wirecard accounts scandal

Global accounting firm EY said on Tuesday it regretted not spotting fraud at German payments company Wirecard sooner and that it would improve how it verifies information from clients through greater use of technology. German regulators are examining EY’s role as auditor for Wirecard, which collapsed in June after a 1.9 billion euro ($2.3 billion) […]

Business

BMW to use software from Israel’s Tactile Mobility in vehicles

Israel’s Tactile Mobility said on Tuesday its software will be embedded into the BMW Group’s BMWG.DE next-generation vehicles beginning in 2021. The collaboration will equip BMW vehicles with the ability to analyse the road surface attributes under their tires, enabling detection of road conditions. Tactile Mobility develops software that uses a vehicle’s non-visual sensors, including […]