Bloomberg Twelve hours after the UK formally left the European Union, the bloc’s poorer members gathered in an old Franciscan convent in southern Portugal to rally against a looming budgetary shortfall that’s partly due to the loss of British contributions. Brexit is deepening the rift between richer and poorer EU states as they clash on the bloc’s trillion-euro ($1.1 trillion) ...

Bloomberg WeWork plans to name Sandeep Mathrani as its new chief executive, according to a person familiar with the matter. Mathrani, who previously was chief executive of Brookfield Property Partners’ retail group, will replace Artie Minson and Sebastian Gunningham. The duo has served as co-CEOs of WeWork parent We Co since Adam Neumann stepped down in September following a failed ...

Bloomberg The libertarian financial website Zero Hedge was permanently suspended from Twitter after it published an article questioning the involvement of a Chinese scientist in the outbreak of the deadly novel coronavirus. On its website, Zero Hedge’s pseudonymous author “Tyler Durden” said he received a notification from Twitter that he had violated “our rules against abuse and harassment.” Earlier, BuzzFeed ...

Bloomberg Elon Musk’s fortune swelled by $2.3 billion in the span of an hour after shares of Tesla Inc soared in extended trading on stronger-than-expected fourth-quarter earnings and an accelerated timetable for the new Model Y crossover SUV. The electric-vehicle maker’s stock, which closed at $580.99, surged 12% to $649 at New York, boosting the chief executive officer’s net worth ...

Bloomberg In July of 2017, International Business Machines Corp executive Arvind Krishna walked into a routine meeting with senior leaders and delivered a surprise pitch that changed the course of the iconic 108-year-old company’s future. For months Krishna, the head of IBM’s cloud computing division, had been thinking about a way to connect clients’ most important data, which was often ...

It’s an economic mystery worth solving. Conventional wisdom holds that long-term job relationships between workers and their employers are breaking down. We’ve all seen and heard countless heart-breaking stories of firms firing large numbers of career workers. Labour markets provide less stability and security than in the past, it seems. And yet, this belief seems to clash with hard evidence. ...

There’s a fine line between a fudge and a workable compromise. In Britain’s handling of Huawei Technologies Co., Prime Minister Boris Johnson has just about managed to secure the latter. The UK has brushed off the US’s complaints and decided to allow its telecoms operators to install equipment made by “high-risk vendors” — read: Huawei — in their networks. But ...

China was supposed to be crucial to Apple Inc.’s future. A tech-savvy audience, impressive mobile infrastructure and growing wealth had executives and investors believing the world’s most populous country would drive growth. So far, the data indicate otherwise. The Greater China region — which comprises China, Hong Kong and Taiwan — just posted yet another period of underperformance, contributing little ...

You can’t turn a supertanker quickly, as the old saying goes. Bailing out, on the other hand, takes no time at all. The last week’s double dose of weak Big Oil earnings from Exxon Mobil Corp. and Chevron Corp. followed hard on the heels of Royal Dutch Shell Plc’s debacle on January 30. Shares of both companies were down about ...

Airlines are perpetually on the alert against crashes. That doesn’t mean the coronavirus epidemic will lead to any corporate disasters. The outbreak that originated in the Chinese city of Wuhan could push some airlines in Asia to the wall, according to Alan Joyce, chief executive officer of Australia’s biggest carrier Qantas Airways Ltd. “A lot of airlines may not be ...