How does an older bank unlock the value of a nimbler, faster-growing division? That was the challenge facing Bruce Van Saun, then CFO at the Royal Bank of Scotland (RBS). He had joined the storied firm in 2009, after their £500 billion bailout of loans and guarantees from the UK government. Within RBS, the Citizens group in the US was ...

The US economy has experienced its slowest recovery from a recession in the post-World War II era, and the longer it lasts the more evidence there is that normal cyclical patterns are missing. And their absence means market participants shouldn’t rely on them to divine the economy’s future. Consider the myriad developments that are atypical, or even the reverse of ...

Over the last decade, scientists learned a great deal about the climate, much of it concerning the connection between global warming and extreme events — heat waves, hurricanes, floods, droughts and wildfires. There has been, for many years, an understanding that a warmer world would be a more temperamental one, and measurements upon measurements show average temperature is rising in ...

Aston Martin’s parent company hopes to take on some new passengers in 2020. They’ll be clambering aboard the luxury carmaker as it careens headlong towards a decisive fork in the road. The reputation of Chief Executive Officer Andy Palmer depends in large part on bringing the market value of Aston Martin Lagonda Global Holdings Plc back towards the 4.3 billion ...

The shock arrest and defenestration in 2018 of Carlos Ghosn, a jet-setting polyglot who bestrode the car industry for decades as head of the Renault-Nissan alliance, always had a cinematic quality to it: There was his detention in Japan shortly after disembarking from a private aircraft; the allegations (strenuously denied by Ghosn) of undeclared income and misappropriated funds; the grim ...

Tesla Inc shares opened at new highs after the electric-car maker reported a new record for quarterly deliveries of 112,000 units in the final three months of 2019. The electric-vehicle maker handed over 92,550 Model 3 and 19,450 Model S and Model X electric vehicles in the fourth quarter, according to a statement, eclipsing its previous total best of 97,000 ...

Bloomberg Apple Inc shares surpassed $300 amid predictions for a robust holiday quarter, demand for wearables such as AirPods and planned services including streaming TV. Shares of the iPhone maker rose 2.3% to close at a record $300.35, topping the $300 mark for the first time on a split-adjusted basis. The latest gain was in stark contrast to the dismal ...

Bloomberg The world’s biggest technology companies are heading to Las Vegas for the annual CES trade show next week, with even Apple Inc making a rare official appearance. But don’t expect any breakthrough new hardware. Amazon.com Inc and Google will promote existing digital-assistant technology through their own internet-connected gadgets and similar products made by other firms. There should also be ...

Bloomberg BMW AG outsold Daimler AG’s Mercedes-Benz in the US for the first time in four years after blowing out its rival in the final month of 2019. BMW sold 35,746 cars and sport utility vehicles (SUV) in December and finished the year ahead by more than 8,700 units. The Munich-based manufacturer staged a revival this year by filling out ...

Bloomberg Federal Reserve officials downplayed concerns about the impact of geopolitical uncertainty on the US economy amid flaring tensions with Iran, even as a record of the central bank’s meeting last month showed that downside risks remain on their minds. “That’s one of the great things about the US economy, is it does have this resiliency to it,” Cleveland Fed ...