May, 2019

• 22 May

  BMW chief’s future in doubt over tackling shift to e-vehicles

  

  Bloomberg BMW AG Chief Executive Officer Harald Krueger’s job is on the line over concerns he’s not aggressive enough in steering the luxury carmaker’s titanic shift towards electric and autonomous vehicles, people familiar with the matter said. Some supervisory board members are questioning whether he’s the right choice to lead the company and will discuss the CEO’s second-term prospects in ...

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• 22 May

  Daimler CEO vows cost cuts, drive to lift profit

  

  Bloomberg Departing Daimler AG Chief Executive Officer Dieter Zetsche promised cost cuts and an efficiency drive to restore profit margins as the man who steered the Mercedes-Benz carmaker for more than a decade leaves his successor to tackle unprecedented industry upheaval. “We cannot and will not be satisfied with the current level of profitability,” Zetsche said on Wednesday at the ...

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• 22 May

  Indonesia post-poll protests turn violent, leave six dead

  

  Bloomberg At least six people were killed and hundreds more injured in clashes between police and supporters of Indonesian presidential candidate Prabowo Subianto in the worst political violence to hit Jakarta in two decades. Jakarta Governor Anies Baswedan appealed for public order and urged police to exercise restraint and avoid conflict with the protesters in the capital city. About 200 ...

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• 22 May

  China’s Xi calls for ‘new Long March’ as US tensions rise

  

  Bloomberg China’s President Xi Jinping called on citizens to join a “new Long March”, a phrase he’s used before to characterise achieving progress despite hardship, as the US weighs stronger restrictions on Chinese technology companies amid a deepening trade war. Xi made the remarks while leaving the Long March memorial garden in Jiangxi Province, according to a video clip released ...

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• 22 May

  May faces pressure to quit as deal fizzles

  

  Bloomberg Theresa May is facing pressure to abandon her Brexit deal and quit as British prime minister within days, according to people familiar with the matter. Several senior government officials said they were shocked that the premier’s new offer intended to win votes in parliament for her European Union divorce agreement had been so badly received so quickly. Speaking on ...

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• 22 May

  Pelosi counters push to impeach Trump

  

  Bloomberg Speaker Nancy Pelosi is facing new pressure from House Democrats to open impeachment proceedings as she planned to meet with her party behind closed doors on Wednesday to discuss President Donald Trump’s defiance of congressional investigations. Several influential Democratic lawmakers, including a few top Pelosi lieutenants, in recent days joined calls to begin an impeachment inquiry, spurred by Trump’s ...

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• 22 May

  Modi masked his failings with bombs, nationalism

  

  Bloomberg On a cool Delhi evening in November 2016, Narendra Modi hastily called a national address to make the most consequential decision of his premiership: Effective at midnight, some 86 percent of India’s cash would no longer be valid in a bid to stamp out corruption. Panic quickly ensued as India’s 1.3 billion people—many with no bank accounts or credit ...

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• 22 May

  What’s Trump’s plan for Iran? Nobody knows

  

  In any tense military confrontation, diplomats start looking for an “off ramp” that could de-escalate tensions. But in the current standoff between the United States and Iran, it’s hard to find any such exit route. The US-Iran faceoff is one of those odd situations where both players appear eager to set off sparks, although neither seems to want a raging ...

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• 22 May

  What trade war means for Macy’s

  

  Macy’s Inc.’s turnaround efforts didn’t backslide in the first quarter. The department store behemoth reported that comparable sales rose 0.6% from a year earlier in the first quarter, or 0.7% including licensed departments. That increase surpassed analysts’ expectations and set the retailer on track to easily achieve its full-year guidance of 0% to 1% growth on this measure. Adjusted earnings ...

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• 22 May

  Ghosn got one thing right about Nissan

  Looks like deposed car executive Carlos Ghosn was right after all: Nissan doesn’t care about shareholder value. Nissan Motor Co. last week reported dismal earnings and gave an even grimmer outlook. Still worse: The company said it would slash its dividend by 30%. Chief Executive Officer Hiroto Saikawa then proceeded to talk about fanciful ideas of improving governance and the ...

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