In an interview published on Saturday, UBS Chairman Colm Kelleher stated that the bank has no interest in buying fellow Swiss lender Credit Suisse. The former Morgan Stanley president said he was focused on organic growth rather than acquisitions and expanding the bank’s business in the United States, ruling out a bid for his bank’s…
Adidas has lost a court case in which it attempted to prevent a fashion designer from using a four-stripe design. The sportswear giant claimed that the four stripes of luxury brand Thom Browne Inc were too similar to its three stripes. Browne contended that shoppers were unlikely to mix up the two brands because, among…
Chinese electric vehicle (EV) maker BYD Auto Co plans to build a plant in Vietnam to produce car parts, according to a Reuters report quoting information from people with knowledge of the matter. This is a part of a global expansion that would reduce the company’s reliance on China and deepen its supply chain in…
On Friday, a Boeing 737 MAX made its first passenger flight in China in nearly four years, marking a significant milestone in the American planemaker’s efforts to rebuild its business in the world’s second-largest aviation market. According to flight tracking website FlightRadar24, the China Southern Airlines domestic flight from Guangzhou to Zhengzhou took off at…
The crypto exchange Binance had been registered as a financial institute in Sweden this week, announced the country’s financial watchdog on Thursday. According to Per Nordkvist, deputy head of the Financial Supervisory Authority’s banks division, the registration allows Binance to launch a website in Swedish and market itself directly to consumers in the Nordic country.…
According to a new report from the International Energy Agency, the world is entering a “new age of clean technology manufacturing” that could be worth hundreds of billions of dollars per year by the end of the decade, creating millions of jobs in the process. The IEA’s Energy Technology Perspectives 2023 report, which was released…
Steve Easterbrook, the former CEO of McDonald’s, was fined $400,000 by the US regulator for “concealing the extent of his misconduct” regarding a relationship with an employee. McDonald’s fired Easterbrook in 2019 after directors discovered he had been having a secret relationship with a senior female employee, which it said showed “poor judgment” and “violated…
According to Bloomberg, Apple will unveil its highly anticipated mixed reality headset this spring, with consumer deliveries beginning in fall 2023. The report follows Apple analyst Ming-Chi Kuo’s comments last week, in which he stated that software development and mechanical component issues had forced Apple to push shipment to the second half of 2023. Kuo…
The stock of Virgin Orbit fell in trading on Monday evening after the company confirmed that its first launch from the United Kingdom did not reach orbit. Virgin Orbit shares fell as much as 30% in after-hours trading from their previous close of $1.93 per share. The company sends satellites into space by dropping a…
More on the mainland According to an investment fund manager, Chinese electronics manufacturers are poised to eat into market share held by Taiwanese rivals such as Foxconn and Pegatron. “Chinese companies are getting pretty competitive for iPhone assemblers. China is doing quite well in pretty much everything, except semiconductors,” Kirk Yang, chairman and CEO of…
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