Author Archives
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Berkshire appoints Ajit Jain as as its vice chairman
Ajit Jain, 66 along with Gregory Abel, 55 are the top contenders to replace Buffet, 87. As per a regulatory filing, Ajit Jain, who has recently been appointed as vice chairman of Berkshire Hathaway Inc, has reported his ownership of… Read More ›
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John McCormick becomes president and CEO of Blackstone
J. Tomilson Hill, billionaire art collector, the firm’s esrtwhile Chief executive, has passed the baton to John McCormick; Hill will remain as its chairman. Having being at the helm of the world’s biggest hedge fund, with around $74 billion in… Read More ›
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Australia, Japan, Canada working together to replace TPP with CPTPP
Chief negotiators from the respective countries in the Asia Pacific region are set to meet next week to hammer out an agreement for signing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). On Thursday, Australian Prime Minister Malcolm Turnbull… Read More ›
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The transfer of Toshiba’s nuclear business to the Baupost Group would help lift its balance sheet by $3.68 billion
The 410 billion transfer includes a post-tax profit of 170 billion yen as well as 240 billion yen tax benefits. On Thursday, Toshiba Corp stated once it sells its claims in Westinghouse Electric Co, its bankrupt nuclear unit, to a… Read More ›
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Yet another Chinese city admits to providing fake economic data
China’s Xinhua news agency and the People’s Daily have reported that officials tend to inflate economic data in order to boost their performance based on which they are assessed by China’s central government. Baotou, a northern industrial city in China’s… Read More ›
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Judith McKenna to assume Wal-Mart Stores chief executive of its international unit
The move is a potentially a stepping stone towards doning the role of the CEO of the world’s biggest brick and mortar retailer. As per a source with knowledge of the matter, Judith McKenna, Wal-Mart Stores’ Chief Operating Officer is… Read More ›
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The Trump Administration’s Great Firewall of Commerce blocks Huawei Technologies and ZTE from gaining access to U.S. market
The Trump Administration is taking a stronger stance on national security policies initiated by the Obama Administration and is increasingly frustrating Beijing’s efforts at acquiring strategic U.S. industries and U.S. technology. Two congressional aides have disclosed, U.S. lawmakers have urged… Read More ›
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Continental AG aims to tap burgeoning autonomous self-driving vehicle markets, hires JPMorgan for potential break-up
Across the supply chain of the auto industry, investors are cheering firms who break away from the mold of the combustion engine centered model, which they see as a sunset industry, to that of new age self-driving, autonomous, automated vehicles…. Read More ›
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85% North America content in vehicles, an unrealistic target: U.S. Auto industry to Trump Administration
The U.S. auto industry has gone at great lengths to to convince the Trump administration of the importance of NAFTA for the industry. In fact, in October 2017 major auto dealers, automakers and suppliers had launched a coalition to back… Read More ›
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Hyundai Motor Co gets reprieve following a tentative wage deal with labor union
The development will allow Hyundai Motor to get back on its feet after a sales slump in 2017. On Tuesday, Hyundai Motor Co’s labor union disclosed that its members have agreed to a tentative deal in wages with its management…. Read More ›
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