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Samsung heir Lee apologises over succession, won’t hand control to children

Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday apologised over controversial succession plans and said he will not hand over management rights to his children at the family-controlled conglomerate.

Markets

UK watchdog deems Shell’s ‘drive carbon neutral’ ad campaign acceptable

A Royal Dutch Shell advertising campaign promising customers they can "drive carbon neutral" has been deemed acceptable under Britain's advertising rules following an investigation, regulators said on Wednesday.

Markets

VW sees multi-speed coronavirus rebound led by China

Volkswagen said demand in China was rebounding, thanks to customers who want to switch from public transport to personal vehicles, but warned sales would not recover as quickly in other parts of the world.

Markets

Hyundai Motor sales down 57% amid coronavirus pandemic

South Korea's Hyundai Motor said on Wednesday its provisional April sales fell 57per cent on year to 159,079 vehicles globally, as the coronavirus pandemic and efforts to curb its spread sharply contracted auto demand and dealership traffic.

Markets

BMW cuts outlook, expects coronavirus impact to last all year

BMW AG on Wednesday said the impact of the coronavirus will likely hurt demand and profit throughout the year, forcing the German automaker to lower its profit outlook for passenger cars following a slowdown in first-quarter deliveries.

Markets

Samsung heir Lee apologises over succession, labour controversy

Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday apologised over controversial succession plans and said he will not hand over management rights to his children at the family-controlled conglomerate.

Markets

Samsung heir apologises over corruption scandal

The heir to the Samsung empire bowed in apology Wednesday for company misconduct including a controversial plan for him to ascend to the leadership of the world's largest smartphone maker.

Markets

Can Italian infrastructure reboot post-coronavirus economy?

ROME: A sleek new bridge in Genoa built in record time is being acclaimed in Italy as a model for rebuilding the economy by investing in major infrastructure projects. Such stimulus is sorely needed as the country slides towards its worst recession since World War II because of the...

Markets

Yum China keeps bets on dine-in, sticks to expansion plans after virus

Yum China is betting that Chinese consumers will still choose to dine-in in the aftermath of the coronavirus crisis and plans to open more Pizza Hut and KFC outlets in China's smaller cities in the coming months, its chief executive said.

Markets

Virgin Money profits erased by coronavirus provision

British lender Virgin Money swung to a first-half loss after setting aside 237 million pounds (US$294.7 million) to handle loans likely to go bad because of the coronavirus crisis.

Markets

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