Bloomberg One of the few funds to predict Beijing’s clampdown on education companies is doubling down on its bets on China’s solar companies. Ken Xu, Hong Kong-based chief investment officer at Strategic Vision Investment Ltd, withdrew from tutoring stocks in March after noting that state-backed media outlets and policy makers were echoing angst among parents about the societal impact of ...

When General Motors Co’s $27 billion EV program went up in flames in August, it also singed EV enthusiasts’ high hopes for a new generation of long-lasting batteries that could take cars farther while keeping costs low. The storied American car company was forced to recall the 140,000 electric Chevy Bolts made since 2017. Turns out that the car’s expensive ...

What is going on at 3M Co? Shares of the maker of Post-it notes, automotive parts and Nexcare bandages have slumped about 25% since Michael Roman was named chief executive officer in March 2018. That ranks 3M among the top-10 worst performing S&P 500 industrial stocks over that period. To put that in perspective, consider that five of the other ...

The US government has worked hard over the past decade to stop Americans from hiding bank accounts offshore to evade taxes. But not hard enough. It has become more difficult to maintain secret accounts, but it’s still happening, as recent examples show. People who have dual citizenship, minimal connections to the US and a willing accomplice at a bank have ...

July Ndlovu, the boss of Anglo American Plc coal spin-off Thungela Resources Ltd, did his rival Glencore Plc a big favour earlier this year. When Thungela began trading as a separate company in June, Ndlovu told Bloomberg he wanted to increase output of the fossil fuel: “I didn’t take up this role to close these mines.” Glencore is the last ...

Bloomberg The new owners of once-bankrupt Jet Airways India Ltd are in talks with Boeing Co and Airbus SE to purchase at least 100 narrowbody jets for the carrier’s fleet in a bid to revive what used to be the biggest private airline in the South Asian nation before it collapsed under a pile of debt. The winning bidders for ...

Bloomberg Airlines are moving forward to finalise big commercial aircraft orders despite the newly discovered coronavirus variant and a fresh wave of travel restrictions to contain its spread, Pratt & Whitney’s top sales executive said. “The campaign activity is as high as I’ve seen, maybe ever,” said Rick Deurloo, chief commercial officer of Pratt & Whitney, a unit of Raytheon ...

Bloomberg United Airlines Holdings Inc. plans to move the network operations center that coordinates its flights globally to a Chicago suburb next year, slashing headcount at the carrier’s world headquarters at Blackstone Inc’s Willis Tower. The move was announced internally and would affect about 900 employees such as managers and technical support staff, United said. About 400 flight dispatchers could ...

Bloomberg The embattled Mexican airline Interjet is planning a return to operations by next year with a new fleet comprised of 10 Airbus SE A320 jets and potentially 10 Czech-made Let L-410 planes. The plan to fly again depends on the company’s ability to navigate a “distressed investing” strategy that will be separated into three tranches, said insolvency specialist Ivan ...

Bloomberg Phillips 66 reached an agreement to supply cleaner aviation fuel to British Airways for several years as the airline seeks to lower its emissions, the companies said in a statement. As part of the deal, so-called sustainable aviation fuel — which is made from renewable feedstocks such as waste vegetable oils — will be produced at scale for the ...