Another Top Credit Suisse Executive Leaves as UBS Integration Takes Hold

Global head of private funds David Klein has moved to TWG, a holding company that manages the investments of Los Angeles Dodgers co-owner Mark Walter. 


 
Hyundai Motor, Kia to Recall 170,000 EVs in South Korea

Hyundai Motor and sibling company Kia will recall around 170,000 electric vehicles in South Korea for faulty software that could cause a power loss while driving. 


 
WuXi Shares Fall as Washington Lobbying Group Cuts Ties

WuXi AppTec and its affiliates are taking another beating after the loss of support from the biotech industry's top lobbying group in Washington, as two bills targeting Chinese biotech companies wind their way through Congress. 


 
China Healthcare Stocks Rally on Hopes for Govt Support

Chinese pharmaceutical stocks rose sharply on hopes for government support, with analysts citing an alleged draft proposal on drug innovation widely circulated online and on social media. 


 
Foxconn Sees Significant Growth Driven by AI Demand

The contract manufacturer reported a rise in fourth-quarter net profit and forecast significant growth this year, boosted by investments in AI. 


 
Shell to Slow Pace of Carbon-Emission Cuts

Anglo-Dutch energy heavyweight said it now targets a 15%-20% reduction by 2030 in the net carbon intensity of the energy products it sells. 


 
Rheinmetall Forecasts Record Sales as Geopolitical Tensions Rise

Rheinmetall expects sales to continue growing this year as the Ukraine and Israel-Hamas wars show little sign of abating and governments ramp up spending on military hardware. 


 
Hapag-Lloyd Expects Sharp Earnings Drop

Hapag-Lloyd said it expected earnings to fall sharply this year as the current situation in the Red Sea complicates an already challenging economic and political environment. 


 
Citi Names Veteran Exec as New China Head of Commercial Bank

Citigroup has named an executive who's been with the banking giant for over two decades to head up its commercial bank business in China, its latest personnel change as it undergoes a global restructuring. 


 
Women Aren't Getting the Big Jobs at Goldman Sachs, and They're Heading for the Exits

The Wall Street giant pledged to bring more women into senior ranks. Instead, top talent says better opportunities are elsewhere.


(END) Dow Jones Newswires

03-14-24 0715ET