Category: Business

SHANGHAI (Reuters) – China’s indebted HNA Group has appointed its chairman’s son as president as part of business restructuring at the finance-to-aviation conglomerate, Chinese financial magazine Caixin reported on its website on Saturday. Chen Xiaofeng, son of HNA Chairman Chen Feng, has been appointed president of the group, replacing Zhang Ling, according to Caixin. HNA’s…

WASHINGTON (Reuters) – Blacklisted Chinese telecoms equipment giant Huawei is in early-stage talks with some U.S. telecoms companies about licensing its 5G network technology to them, a Huawei executive told Reuters on Friday. Vincent Pang, senior vice president and board director at the company said some firms had expressed interest in both a long-term deal…

(Reuters) – U.S. oil major Chevron Corp (CVX.N) said late on Friday it is optimistic about maintaining a presence in Venezuela even amid U.S. sanctions on the country and state oil company PDVSA as part of Washington’s effort to oust President Nicolas Maduro. The company’s remarks follow an earlier report by Bloomberg that said the…

SEATTLE (Reuters) – In newly released instant messages from 2016, a top Boeing Co 737 MAX test pilot tells a colleague that the jet’s MCAS flight control system – the same one linked to two fatal crashes – was “running rampant in the (simulator) on me.” But the broader conversation appears to show the Boeing…

WASHINGTON (Reuters) – A Boeing Co senior pilot said he might have unintentionally misled regulators, in a series of internal messages from 2016 that became public Friday, plunging the world’s largest airplane maker into a fresh crisis. The messages, first reported by Reuters, sent Boeing shares tumbling, prompted a demand by U.S. regulators for an…

WASHINGTON/DETROIT (Reuters) – General Motors Co (GM.N) plans to build a new family of premium electric pickup trucks and sport-utility vehicles at its Detroit-Hamtramck plant beginning in late 2021, possibly reviving the imposing Hummer brand on some of them, several people familiar with the plans said. The so-called BT1 electric truck/SUV program is the centerpiece…

NANCHANG, China (Reuters) – Chinese Vice Premier Liu He said on Saturday that China will work with the United States to address each other’s core concerns on the basis of equality and mutual respect, and that stopping the trade war would be good for both sides and the world. “The two sides have made substantial…

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said he thinks a trade deal between the United States and China will be signed by the time the Asia-Pacific Economic Cooperation meetings take place in Chile on Nov. 16 and 17. Chinese Vice Premier Liu He will provide Beijing’s perspective on the progress of the…

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Friday said he welcomes a proposal to double the size of the International Monetary Fund’s $250 billion crisis lending fund as part of a deal to maintain overall IMF resources. Mnuchin, in a statement to the IMF’s steering committee, said he backed the funding increase to…

CLEVELAND (Reuters) – A landmark trial over the U.S. opioid epidemic is on track to begin on Monday after drug companies and local governments failed to agree on a settlement on Friday that had been expected to be valued at around $50 billion. Top executives of the largest U.S. drug distributors and drugmaker Teva Pharmaceutical…