Bloomberg SAS AB is unexpectedly losing its chief executive officer, leaving Scandinavia’s main airline to search for a replacement with the industry going through an unprecedented crisis. CEO Rickard Gustafson is leaving to take the top job at Swedish industrial giant SKF AB, according to a statement. The 56-year-old, who has spent a decade at the helm of Stockholm-based SAS, ...

Bloomberg In a bid to better leverage its millions of customers, retail giant Walmart Inc created a fintech startup to win more of their spending. The company has formed a partnership with Ribbit Capital, an investor in stock-trading platform Robinhood, to start a venture that “will bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven ...

Bloomberg Airbus SE former Chief Executive Officer Tom Enders has become the latest aviation stalwart to throw his weight behind the future of flight, joining the board of German startup Lilium. Enders, an industry veteran with almost three decades of experience, spent seven years at the helm of planemaker Airbus before stepping down in 2019. Lilium impressed him with its ...

Bloomberg Representatives from Boeing Co and the US National Transportation Safety Board (NTSB) will leave for Jakarta this week to help with an investigation into Saturday’s crash of a Sriwijaya Air passenger jet, which hurtled into the Java Sea with 62 people on board. The Indonesian government granted a waiver allowing the Boeing and NTSB officials to enter the country ...

Bloomberg Australian household spending jumped in November as the southeastern state of Victoria was released from lockdown and consumers took advantage of discounts during annual Black Friday sales. Retail sales advanced 7.1% from a month earlier, compared with the 7% gain forecast by economists and the 7% reported in late December as the preliminary figure, data from the Australian Bureau ...

Bloomberg Vice President Mike Pence signalled he’ll spurn demands to immediately oust Donald Trump over a deadly riot by the president’s supporters as the two met and agreed to work together for the remainder of the term, according to a senior administration official. The discussion adds to indications that Trump has no plans to resign before Joe Biden’s January 20 ...

Bloomberg President Xi Jinping issued an unusually upbeat assessment about China’s future, noting that “time and the situation” were on the country’s side in a new year marked by domestic turmoil in the US. The Chinese leader told a gathering of provincial and ministerial-level officials that he saw “opportunities in general outweighing challenges,” a marked shift from his sometimes dire-sounding ...

Bloomberg The Trump administration put Cuba back on the list of state sponsors of terrorism, reversing an Obama-era decision and making it harder for President-elect Joe Biden to quickly revive diplomatic ties with Havana. Secretary of State Michael Pompeo said he’s designating Cuba because the country continues to harbour American fugitives including Joanne Chesimard, convicted of killing a New Jersey ...

Bloomberg Malaysia’s king declared a nationwide state of emergency for the first time in more than half a century, suspending parliament in a move that allows embattled Prime Minister Muhyiddin Yassin to avoid facing an election until the pandemic is over. The emergency decree gives Muhyiddin’s administration more power to tackle a surge in Covid-19 cases, including over the operations ...

Bloomberg UK Prime Minister Boris Johnson set himself on a collision course with the Chinese government with a thinly veiled attack on traditional medicine, which he said was to blame for the coronavirus pandemic. The practice of using scales from the endangered pangolin to aid virility is “demented,” Johnson said at a meeting of world leaders focused on protecting nature. ...