BLOOMBERG General Electric (GE) Co Chief Executive Officer Larry Culp saw his total compensation decline more than 60% in 2022 after agreeing last year to a reduced annual stock award. The CEO’s total compensation in 2022 was $8.2 million, down from $22.7 million in 2021, according to the company’s annual proxy filing. The 64% reduction was expected, and mostly due ...

BLOOMBERG UK food-delivery service Deliveroo Plc reported that annual sales rose 14% last year when inflation and economic headwinds hit customers. Revenue rose to £1.97 billion ($2.4 billion) and its operating loss was £245.6 million last year, the company said in a statement. Shares fell 3% to 86.88 pence in London. The company said it reached a key milestone of ...

BLOOMBERG Volkswagen AG unveiled an affordable electric vehicle (EV) that’s a couple years away from production, putting Europe’s largest carmaker on a collision course with Tesla Inc. The compact ID. 2all concept previews a car costing less than €25,000 ($26,400) that VW is readying for the European market in 2025. The maker of the Golf hatchback — which was knocked ...

BLOOMBERG China announced that Xi Jinping will travel to Russia on a three-day state visit starting on Monday, his first trip there since Kremlin forces invaded Ukraine and a strong show of support for President Vladimir Putin. Xi will be in Russia from Monday to Wednesday next week, according to a statement from China’s Foreign Ministry. Xi, who secured a ...

BLOOMBERG Former Pakistan Premier Imran Khan vowed to turn up in court on Saturday after skipping hearings, potentially setting the scene for further political unrest in a country that’s at risk of a default. Supporters battled with security forces outside the former cricket star’s private residence in Lahore this week as police attempted to arrest Khan. He faces charges of ...

BLOOMBERG North Korea launched the most powerful ballistic missile in its arsenal just before a summit between Japan and South Korea, with leader Kim Jong Un saying he wanted to “strike fear into the enemies,” its state media said. Kim was on hand with his preteen daughter to watch the launch of the Hwasong-17 intercontinental ballistic missile. The test was ...

BLOOMBERG Turkey is nearing ratification of Finland’s accession into Nato, which would bring the military alliance a step closer to welcoming its 31st member as the effects of Russia’s invasion of Ukraine spread across the European security landscape. President Recep Tayyip Erdogan and Finland’s head of state, Sauli Niinisto, started a meeting in Ankara without speaking to reporters. The Turkish ...

BLOOMBERG Germany will send a federal minister to Taiwan for political talks for the first time in 26 years next week, a trip which could anger the government in Beijing at a time of growing tensions between China and Europe. Bettina Stark-Watzinger, who oversees the education and research portfolios in Chancellor Olaf Scholz’s ruling coalition, plans a two-day trip to ...

BLOOMBERG Cryptocurrency market data provider Kaiko plans to relocate its Asian headquarters to Hong Kong from Singapore, drawn by the city’s push to establish a global hub for the digital-asset industry. Hong Kong’s pro-crypto policy pivot and emergence from Covid-related curbs contributed to the Paris-based company’s decision, Chief Executive Officer Ambre Soubiran said in an interview. Kaiko feeds data to ...

BLOOMBERG UBS Group AG and Credit Suisse Group AG are opposed to a forced combination, even as scenario planning for a government-orchestrated tie-up continues, according to people with knowledge of the matter. UBS would prefer to focus on its own wealth-centric standalone strategy and is reluctant to take on risks related to Credit Suisse, the people said, asking not to ...