Bloomberg Fiat Chrysler Automobiles NV agreed to pay a $40 million penalty related to years of sales reports the US Securities and Exchange Commission (SEC) said were fraudulent. The Italian-American automaker issued statements that misled investors by wrongly claiming monthly gains, the SEC said. Fiat Chrysler inflated results by paying dealers to report fake sales. The company also maintained a ...

Bloomberg Boris Johnson’s Conservative Party will pledge funding for electric cars, fusion power and new green spaces at its conference next week, in the latest sign of how British political parties are fighting for environmentally friendly votes. The Conservative annual conference, which kicked off in Manchester, North West England, is likely to be dominated by Brexit. But the party is ...

Bloomberg Nestle SA is increasing checks on the coffee it buys, after recent tests showed beans from some countries had levels of the weedkiller glyphosate that are close to a regulatory limit. The world’s largest coffee roaster has informed suppliers of Indonesian and certain Brazilian beans of the new procedures, which go into effect starting from October 1, according to ...

Bloomberg Apple Inc has hired David Smoley, chief information officer (CIO) of pharmaceutical giant AstraZeneca Plc, for a vice president role. Smoley joined the Cupertino, California-based technology giant this month after six years at the UK-based drugmaker. At Apple, he will work in a similar information technology role and won’t be focused on Apple’s growing healthcare efforts. He is reporting ...

Bloomberg Jaguar Land Rover (JLR) plans to close its UK factories for a week in November to guard against disruption to supply chains from a possible no-deal Brexit, Chief Executive Officer Ralf Speth said. The shutdown will go ahead whether or not Britain seeks an extension to the October 31 deadline for leaving the European Union, he said at a ...

Up through the 1980s, the blessings of the Industrial Revolution seemed largely confined to a handful of countries in Western Europe, East Asia, the US, Australia and Canada. But in the past three decades, there has been a sea change, and developing countries have made great strides in catching up. Although inequality has risen within some nations, at the global ...

As the operation to fly home stranded Thomas Cook Group Plc passengers begins — and the blame game gets going over why the 178-year-old travel agent collapsed — another parallel process is underway: Seeing what can be salvaged from the ruins. Even before the company entered liquidation, there was never going to be much left for shareholders. They would probably ...

Global meat consumption has more than doubled since the 1960s, and meat production is set to double again by 2050. In one way, that’s a good thing — proof that rising incomes are supporting higher living standards in developing countries. But Americans, famous for enjoying too much of a good thing, still eat three times as much meat as the ...

As UK Prime Minister Boris Johnson sat at the United Nations in New York, his political strategy was collapsing at home. Last week, Britain’s Supreme Court shot down Johnson’s decision last month to suspend Parliament. It was an unequivocal rebuke: All 11 justices concurred that Johnson’s plan was “unlawful, void and of no effect” and rejected each of the government’s ...

After years of procrastination, Russia, the world’s fourth-biggest greenhouse gas emitter, has officially joined the Paris climate agreement, which it signed in 2016. It shows that President Vladimir Putin’s views of climate change are evolving and he wants his government to do more. Putin was never a fully-fledged climate change denier. Rather, he once didn’t take it seriously enough. Addressing ...