India’s Prime Minister Narendra Modi met on Sunday with the creme de la creme of corporate America, in a CEO roundtable that contrasted sharply with a U.S. President Donald Trump‘s recent tech roundtable. Modi, who was expected to meet with Trump on Monday, attended the high-profile meetings set up via the Indian embassy, in which […]
Read moreFiling for bankruptcy protection may not be enough to help troubled Japanese auto-parts maker Takata untangle itself from what is considered one of the biggest recalls in automotive history, analysts told CNBC. The Japanese airbag manufacturer on Monday filed for bankruptcy protection in Japan and the United States. U.S.-headquartered auto parts supplier Key Safety Systems […]
Read moreFitch Ratings has issued a widespread downgrade to Noble Group, as poor liquidity and weak profitability continue to hinder the turnaround of the struggling commodities trader. Fitch downgraded Noble’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to “CCC” from “B-.” At the same time, the agency downgraded Noble’s senior unsecured rating and the ratings on all […]
Read morePandora co-founder and CEO Tim Westergren plans to step down as the streaming music company’s leader, according to people familiar with the company’s plans. Pandora hasn’t selected a replacement for Westergren, sources say; he will likely stay on at the company he founded 17 years ago until a new CEO is in place. A Pandora […]
Read moreIn their first face-to-face meeting, U.S. President Donald Trump and India’s Prime Minister Narendra Modi will attempt to build trust and a rapport in what some are calling a “bromance in the making.” If they don’t, billions of dollars could be a stake. When Modi meets President Trump for the first time on Monday, there […]
Read moreThe second quarter is almost over, and it’s been a good one for stocks. All of the major benchmarks are up strongly over the past three months, with the Dow Jones Industrial Average posting a gain of nearly 4 percent. As we head into the final week of the period, investors should be keeping on […]
Read morePaul Jacobs is the chairman of chip-making giant Qualcomm, a company his father co-founded in 1985. Today, Qualcomm is to the smartphone what Intel once was to the PC. Qualcomm helped pioneer early cellular technology and is still on the cutting edge of today’s LTE and future 5G networks. Over the years, it has shown […]
Read moreCurrency, United States Finance
Italy making $5.8 billion in resources available to keep two banks open
The Italian government on Sunday made 5.2 billion euros ($5.8 billion) of resources immediately available to keep operative two banks that the European Central Bank has deemed “failing or about to fail,” sending them into insolvency procedures. Premier Paolo Gentiloni defended the swift action by the government as vital for ensuring Italy’s slow economic recovery […]
Read moreJapan’s Takata, the firm at the center of the auto industry’s biggest ever product recall, will file for bankruptcy protection in Japan on Monday with liabilities of more than 1 trillion yen ($9 billion), a source said. The decision came at a special meeting of the air-bag maker’s board, public broadcaster NHK said. The Nikkei […]
Read moreActivist investor Daniel Loeb‘s Third Point LLC on Sunday unveiled a more than 1 percent stake in Switzerland’s Nestle SA and urged the world’s largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses. The stake, worth around 3.28 billion Swiss francs ($3.4 billion), is one of the largest taken […]
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