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Boeing Co. is in a heap of trouble right now — there’s no getting around it. The two deadly crashes of its new plane, the 737 Max, killing 346 people, have cost it an enormous amount of reputational capital, and will undoubtedly cost it a lot of money — in lawsuit settlements, in multi-million-dollar payments to airlines that have had ...

The world is littered with startups that have struggled to become genuine challengers to traditional banks despite chalking up plenty of customers. Hong Kong may be different. The city kicked off its virtual banking revolution by issuing three licenses, two of which went to ventures led by note-issuing banks. The Hong Kong Monetary Authority is processing five more permits. This ...

In view of the bad feeling unleashed by Japan’s detention of Carlos Ghosn in November, one might have expected Renault SA to keep things quiet for a while. Ghosn was head of the giant Renault-Nissan carmaking alliance and one theory for his downfall was that he was pushing too hard for a full combination of the French and Japanese companies. ...

Bloomberg Apple Inc showed it can open up its software and services to devices that compete with its own — but only when absolutely necessary. The company’s updated TV app, including a new subscription for original movies and TV shows, will launch on iPhones, iPads, and Macs. But it will also be available via gadgets from Amazon.com Inc and Roku ...

Bloomberg Daimler AG’s truck unit agreed to buy a majority stake in US autonomous technology company Torc Robotics as the world’s biggest commercial-vehicle maker prepares to spend more than $561 million on self-driving vehicles in the next few years. The deal is part of a plan to start running highly automated vehicles on US roads, starting with routes between logistics ...

Bloomberg Mynt, the Philippine mobile payments operator backed by billionaire Jack Ma’s Ant Financial, plans to roll out insurance products en route to becoming a sprawling financial services platform in its Chinese ally’s image. The operator of the GCash app is now trying to become a conduit for insurance policies with the help of strategic partners that can help it ...

Bloomberg Wells Fargo & Co Chief Executive Officer Tim Sloan gave in to critics and abruptly stepped down, after the 31-year company veteran struggled to tame a range of scandals, launching the fourth-largest US bank into a hasty search for a successor. Sloan, 58, will be replaced on an interim basis by the firm’s general counsel, C Allen Parker. The ...

Bloomberg The Bank of Italy replaced its second-highest official and named two new members to its top body following months of tense relations with a populist government that questioned its record on banking supervision. Fabio Panetta, 59, has been promoted to director general to succeed Salvatore Rossi, who told staff this month he didn’t intend to stay beyond the expiration ...

Bloomberg Morgan Stanley President Colm Kelleher, who helped navigate the firm through the financial crisis and was once seen as a potential successor to Chief Executive Officer James Gorman, plans to depart at the end of June. Kelleher, 61, will continue as a senior adviser after his official retirement, according to an internal memo Gorman sent employees. “I am extremely ...

Bloomberg New York’s financial regulator is asking two Nordic banks for detailed information about their transactions with Danske Bank A/S as part of a burgeoning investigation into global money laundering, according to a person familiar with the matter. The two banks, Nordea Bank Abp of Finland and SEB AB of Sweden, must also give New York’s Department of Financial Services ...