Bloomberg Apple Inc has hired Ulrich Kranz, a former senior executive at BMW AG’s electric car division, to help lead its own vehicle efforts. The technology giant hired Kranz, about a month after he stepped down as chief executive officer of Canoo Inc, a developer of self-driving electric vehicles. Before co-founding Canoo, Kranz was senior vice president of the group ...

Bloomberg President Joe Biden’s blueprint for the US semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and preempt a rival effort from China. The White House outlined a sweeping plan to secure the conduits for critical ...

Bloomberg Thailand’s state-controlled PTT Pcl, the country’s largest company by market value, has invested in a venture to make plant-based protein, including so-called faux meat, as part of its objective to become less dependent on fossil-fuel businesses. The oil-and-gas giant formed a 300 million baht ($9.6 million) partnership with NR Instant Produce Pcl, which specialises in making protein from jackfruit, ...

Bloomberg Apollo Global Management Inc has agreed to buy a majority interest in gas transportation company Total Operations and Production Services LLC. The private equity firm has reached a deal with current owner Black Bay Energy Capital to take a majority stake in the company, Apollo said in a statement. The deal values the company, known as TOPS, at less ...

Bloomberg Reopening more international travel routes from the UK will be “challenging” because the country must do everything it can to protect itself from new coronavirus variants, Health Secretary Matt Hancock said. Britain last week tightened restrictions on overseas travel, removing Portugal from its so-called green list in a major blow to the airline industry. Restoring travel in the medium-term ...

Bloomberg Airbus SE inched closer to a recovery from the coronavirus pandemic after increasing the number of jetliner deliveries to 50 last month. The European planemaker accelerated production with five more planes handed over than in April, according to a statement that confirmed an earlier Bloomberg report. Airbus is plotting a way out of the Covid-19 crisis even as a ...

Bloomberg Buyout firm KKR & Co is close to reaching an agreement to buy Atlantic Aviation from Macquarie Infrastructure Corp, according to people familiar with the matter. The deal could value the airport services company at about $4.5 billion, including debt, said the people, who asked not to be identified because the matter was private. A sale was expected to ...

Bloomberg E-commerce fashion retailer About You AG and its shareholders are seeking as much as 941 million euros ($1.1 billion) in a Frankfurt initial public offering, betting that demand for its party outfits will ramp up as night life unlocks. Shares are being marketed at 21 euros to 26 euros apiece through June 14, with the new stock set to ...

Bloomberg Lufthansa Consulting GmbH is in talks with Sudan’s government over a role in restructuring one of Africa’s oldest airlines. “If not through a joint venture, they can help to restructure Sudan Airways so that it can be competitive,” Finance Minister Gibril Ibrahim said in an interview. He didn’t give more details or say at what stage the discussions were. ...

Bloomberg Reckitt Benckiser Group has agreed to sell its Chinese baby formula business to Primavera Capital Group in a deal with $2.2 billion enterprise value. Reckitt will retain an 8% stake and sees net cash proceeds of about $1.3 billion, which the company plans to use to reduce debt. The household products maker expects to record a net loss of ...