WASHINGTON (Reuters) – World Bank President David Malpass will step down on June 1 after more than four years at the helm of the multilateral development bank, the bank said on Wednesday. It was not immediately clear why Malpass, who was appointed by then-President Donald Trump, was departing before the end of his five-year term….
(Reuters) – Airbus said on Wednesday it appointed Thomas Toepfer as its new chief financial officer. He will join the group on Sept. 1, it said in a statement. The world’s largest planemaker said current CFO Dominik Asam will leave on March 3, and be replaced by Xavier Tardy – Executive Vice-President Finance for Airbus…
By Ilona Wissenbach and Hakan Ersen FRANKFURT (Reuters) -An IT failure at Lufthansa stranded thousands of passengers and forced flights to Germany’s busiest airport to be cancelled or diverted on Wednesday, with the airline blaming botched railway engineering works that damaged broadband cables. More than 200 flights were cancelled in Frankfurt, a vital international transit…
(Reuters) – Boeing Co’s finance chief said on Wednesday at a Cowen conference that the planemaker was still facing parts shortages as the supply chain was not stable and predictable. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Shinjini Ganguli)
By Johann M Cherian and Sruthi Shankar (Reuters) – Wall Street’s main stock indexes fell on Wednesday after stronger-than-expected retail sales data offered more evidence of resilience in the U.S. economy, fueling worries that the U.S. Federal Reserve could stick to its rate-hike campaign. A Commerce Department report showed retail sales surged 3% in January,…
WASHINGTON (Reuters) – Production at U.S. factories rebounded in January, but output in the prior month was much weaker than initially thought amid higher borrowing costs that are hurting the manufacturing sector. Manufacturing output increased 1.0% last month, the Federal Reserve said on Wednesday. Data for December was revised down to show production at factories…
(Reuters) – The New York Federal Reserve said on Wednesday its barometer of manufacturing activity in New York State contracted for a third straight month in February, but not by as much as economists had expected as orders and shipments stabilized. The regional Fed’s “Empire State” index on current business conditions rose to -5.8 this…
By David Shepardson WASHINGTON (Reuters) -Starbucks Corp Chief Executive Howard Schultz declined an invitation from 11 senators to testify on March 9 on the coffee company’s compliance with federal labor law, according to a letter seen by Reuters late on Tuesday. Last week, U.S. Senator Bernie Sanders, who chairs a committee on labor issues, and…
(Reuters) – Goldman Sachs Group Inc has dropped plans to develop a branded credit card for retail customers, CNBC reported on Wednesday, citing people with knowledge of the matter. The credit card would have been a part of a range of products to enhance its margins and loyalty in the retail segment, the report said….
By Tommy Wilkes LONDON (Reuters) – Barclays on Wednesday said it was tightening lending criteria for coal power and would stop financing oil sands exploration and production, but did not announce new restrictions on oil and gas lending as some rivals have. The British lender extended a previously announced plan to phase out financing for…
