In a statement the White House said, Daniel Smith, director of the Foreign Service Institute (FSI), has been appointed as acting secretary of state following Joe Biden’s swearing in as President. Smith will fill the role temporarily until Biden’s nominee,… Read More ›
U.S. hedge fund Elliott Management will be closing its office in Hong Kong. It has shifted responsibility for Asian investment decisions to London and Tokyo in the last three years. According to a source familiar with the matter at hand,… Read More ›
On Wednesday, Swiss speciality chemicals giant Clariant AG stated, it plans on cutting nearly 1,000 jobs as it tappers down midst a series of divestments. “The rightsizing program foresees a reduction of approximately 1,000 positions in service and regional structures…. Read More ›
With IAG CEO Alexandre de Juniac set to step down in March 2020, , IATA has picked Willie Walsh to become its Director General, said the global airline body in a statement. De Juniac, a former Air France-KLM CEO who… Read More ›
Late on Thursday, Delta Air Lines Inc said, it has reached a preliminary cost-cutting deal with the union that represents its pilots with the deal aiming to prevent furloughs until January 1, 2022. Delta MEC, a unit of the Air Line… Read More ›
According to a report from the South China Morning Post on Tuesday, Hong Kong’s Cathay Pacific Airways Ltd stated it will cut 18% of its worforce, which amounts to 6,000 jobs, to help it weather the coronavirus-induced COVID-19 pandemic. Earlier this… Read More ›
On Monday, in a statement, Swiss electric car startup Piëch Automotive AG stated, it has appointed the former CEO of Porsche and Volkswagen, Matthias Mueller, as its new chairman. Incidentally, Piëch Automotive is founded by Anton Piëch, who is the… Read More ›
According to a source familiar with the matter at hand, Wells Fargo & Co has fired around 100 to 125 employees for unethical behavior including helping themselves with coronavirus relief funds. According to an internal memo, Wells Fargo believes that… Read More ›
According to a news report from South Korea’s Yonhap news agency, Hyundai Motor Group’s executive vice chairman Euisun Chung is set to become its chairman on Wednesday. The development sees Euisun Chung formally taking over the reins of the car… Read More ›
In a significant development, major French unions have signed a keenly awaited labor deal with Airbus which covers job reductions and furloughs for production workers who have been affected by coronavirus-blighted demand for passenger jets. The development comes in the… Read More ›
