Bloomberg UniCredit SpA’s Austrian unit is requesting special audits of at least one of the lenders comprising the 3 Banks Group, saying it broke corporate law and governance rules for years. UniCredit Bank Austria AG is demanding the audit of six share issues at BKS Bank AG, one of the three banks, according to a motion for the May 8 ...

Bloomberg A new, long-delayed 88-passenger jet from Japan may finally be the right plane at the right time. More cities in Asia and Europe are seeking to link up with each other and the global air travel network. The Mitsubishi Regional Jet (MRJ), the first airliner built in Japan since the 1960s, began certification flights last month in Moses Lake, ...

Bloomberg Boeing Co’s factory in North Charleston, South Carolina, one of two plants that produces the 787 Dreamliner, has faced problems with production and oversight that create a safety threat, the New York Times reported. The Times cited a review of internal emails, corporate documents and federal records, as well as interviews with more than a dozen current and former ...

Bloomberg Pier 1 Imports Inc announced a plan to cut costs at the chain, which is under siege from newer online rivals. The company also announced an interim chief financial officer from AlixPartners LLP, a company known for its turnaround and restructuring practice. Part of Pier 1’s “action plan’’ includes generating cost savings and benefits of as much as $110 ...

Bloomberg Call it the nostalgia factor: PepsiCo is getting a boost from some of its classic brands. The snack and beverage giant posted quarterly results that beat estimates, sending shares to the highest since at least 1980. The company’s sales growth was boosted by its key Frito-Lay operation and North American beverage unit, with its Pepsi soda line and Lay’s ...

Bloomberg You’d need a cast of thousands to re-enact Black Friday at a Walmart store, so virtual reality comes in handy at the company’s training centres. Employees get to experience a shopper stampede on their headsets, part of a widening national effort that encompasses some 7,000 workers a week. The retail giant isn’t alone. From hotels to fast food chains, ...

Bloomberg Canadian retailers emerged from months of slumping sales with a sharp rebound in February that may ease some worries about consumer weakness. Retailers posted a 0.8 percent gain in sales on the month, Statistics Canada said from Ottawa, versus economist expectations for a 0.4 percent gain. February’s increase was the strongest since May 2018, and follows six straight months ...

Bloomberg Eni SpA signed an exploration and production agreement wi-th emirate of Ras Al Khaimah, a further push by the Italian company into the Middle East. The deal between the Rome-based hydrocarbons producer and RAK Petroleum Authority will cover Block A, which includes an area of 2,412 sq kms off the coast, according to a statement from Eni. Eni will ...

Bloomberg Hedge funds are betting rising tensions around the globe will keep fueling oil’s rebound this year. Money managers boosted optimistic wagers on West Texas Intermediate crude to the highest since October in the week ended April 16, according to government data released. Total long and short positions swelled to the most in six months, a sign the rally is ...

DUBAI / WAM Abdul Rahman bin Mohammed Al Owais, Minister of Health and Prevention (MoHAP) met with Dr Amrit Ray, Global President, R&D and Medical, Pfizer EMB, to discuss the possibility of establishing a scientific research and excellence hub in the UAE. Al Owais and Dr Ray also discussed mutual efforts to fight chronic diseases and develop innovative and integrated ...