(Reuters) -Italian fashion group Prada confirmed on Tuesday that it would name former Luxottica chief Andrea Guerra as its new chief executive officer to ease a transition at the helm to the next generation of the founding family. Current CEO Patrizio Bertelli, 76, will be appointed chairman of the luxury company at annual shareholder meeting…
As more nurses leave their jobs in hospitals and health-care centers, foundations are pouring millions of dollars into efforts to ensure that more stay in the profession and get more out of the job than just the applause and pats on the back they got during the bleakest days of the pandemic. Philanthropic pledges announced…
LONDON (AP) — Facebook parent Meta’s quasi-independent oversight board said Tuesday that an internal system that exempted high-profile users, including former U.S. President Donald Trump, from some or all of its content moderation rules needs a major overhaul. The report by the Oversight Board, which was more than a year in the making, said the…
NEW YORK (AP) — Robinhood, the company that blazed onto Wall Street after turning millions of novices into investors by making trading fun, is now setting its sights on a more staid corner of the industry: saving for retirement. The company on Tuesday is initiating signups for a retirement program, where customers can sock savings…
By Devik Jain and Ankika Biswas (Reuters) -U.S. stock indexes were set for a subdued open on Tuesday following a selloff on fears the Federal Reserve could persist with interest rate hikes for longer, while focus shifted to Georgia runoff election that could decide the fate of the Senate. All three major indexes closed at…
By Jan Schwartz HAMBURG (Reuters) – Volkswagen’s CEO will outline a new software and vehicle platform strategy to the carmaker’s supervisory board on Dec. 15 as he tries to turn his predecessor’s vision into deliverable goals, three company sources told Reuters. Oliver Blume, who took the helm in September, has been developing the plans with…
WASHINGTON (Reuters) – United Airlines Chief Executive Scott Kirby said a tentative contract agreement between rival Delta Air Lines and its pilots union would set an industry pattern. “It’s a rich contract but I think the really good news is it means we’ll all get deals done essentially on the same terms and can move…
TOKYO (AP) — A newly founded Japanese semiconductor company aiming to revive Japan’s chip industry signed an agreement on Tuesday to collaborate with a Belgian research organization in developing next-generation chips for production in Japan. Economy and Industry Minister Yasutoshi Nishimura told reporters that the new company, Rapidus, which was launched last month by eight…
MOSCOW (Reuters) -Russia’s automobile market slump extended into November, the Association of European Businesses (AEB) said on Tuesday, with sales of new cars down 61.6% year-on-year, as the struggling sector feels the strain of sanctions and subdued demand. Sales have dived since Moscow sent tens of thousands of troops into Ukraine in February, with sanctions…
HANOI (Reuters) – South Korean electronics giants Samsung and LG plan to pour billions of dollars of additional investment into Vietnam, the Vietnamese government said on Tuesday. The announcement comes after Samsung cut smartphone production in Vietnam twice this year in response to weaker global demand. Samsung Electronics, the largest single foreign investor in Vietnam,…
