The task of shifting the car industry from metal bashing and combustion engines to software and batteries is fraught with danger for incumbents such as Ford Motor Co. A big strength of Ford’s new boss Jim Farley is making the bridging of that epochal divide sound simple. The no-nonsense chief executive officer laid out how he plans to lead Ford ...

This year’s meme-stock phenomenon GameStop Corp is soaring again. But the Reddit crowd that loves trading the name may be getting too exuberant, especially considering Best Buy Co’s latest strong earnings report. The consumer-electronics retailer is crushing it at both its physical stores and e-commerce business, making GameStop’s turnaround that much more of a challenge. Best Buy said that it ...

Three of the world’s biggest publicly traded oil and gas companies — Exxon Mobil Corp, Royal Dutch Shell Plc, and Chevron Corp — were dealt stinging blows on May 26 by shareholders and a Dutch court demanding that they act more quickly to reduce their greenhouse gas emissions. Exxon shareholders voted to appoint at least two climate-conscious members to the ...

Bloomberg Chinese food-delivery giant Meituan is working to address regulators’ concerns about its business, changing practices that sparked an antitrust probe while promising better treatment for its millions of drivers and restaurants. The Beijing-based company has set up a dedicated team to work with officials conducting the investigation and vowed strict compliance with new guidelines. It’s also providing insurance for ...

Bloomberg JD Logistics Inc rose as much as 18% on its first day of trading after raising $3.2 billion in Hong Kong’s second-largest initial public offering this year. Shares of the delivery arm of Chinese e-commerce giant JD.com climbed to as high as HK$47.75 in Hong Kong, before giving up some of their gains. The stock had been priced at ...

Bloomberg The cost to move goods in a shipping container to Europe from Asia shot above $10,000 for the first time on record, an index showed, underscoring the pain inflicted on exporters and importers struggling with stretched supply chains. The Drewry World Container Index showed the rate for a 40-foot container from Shanghai to Rotterdam rose to $10,174, up 3.1% ...

Bloomberg A decision by the US to ban imports of seafood from Dalian Ocean Fishing Co is based on “lies” that the Chinese company used forced labour, according to the Communist Party-backed Global Times. The paper cited experts who said the US is widening its move against Chinese industries after allegations of forced labour by companies in the Xinjiang region. ...

Bloomberg France will pull troops out of Mali if the country moves towards radicalism, President Emmanuel Macron said in an interview with Le Journal du Dimanche. Macron told the newspaper during a trip to Africa that he had warned leaders in the west of the continent that the French government will not stand by a country where there is no ...

Bloomberg Cyprus President Nicos Anastasiades’s center-right Disy party recorded its worst results in parliamentary elections in 40 years, as voters vented their frustration over the government’s handling of the country’s “golden passport” program. With presidential elections due in 2023, support for Disy fell to between 24% and 28% compared with 30.7% in the last vote in 2016, according to initial ...

Bloomberg Malaysia announced a two-week nationwide lockdown to curb a relentless surge in Covid cases. Only essential economic and service sectors will be allowed to operate from June 1-14, the Prime Minister’s Office said in a statement, days after Prime Minister Muhyiddin Yassin had ruled out a repeat of last year’s lockdown. The government will soon announce an aid package ...