Category: Business

Ford Motor Co is urging major automakers to consider backing a framework deal with California on vehicle emissions in a bid to reach industry consensus before President-elect Joe Biden takes office. Major automakers are set to discuss next steps at a virtual meeting of their auto trade association Tuesday, which comes a week after General […]

Oil edged lower on Monday on uncertainty about whether the world’s major oil producers would agree to extend its deep output cuts at talks this week. The day’s decline came after a strong month for crude benchmarks, which jumped about 27% in their biggest monthly gains since May on hopes for forthcoming vaccines for COVID-19 […]

The “king of the high street” has lost his realm. The collapse of British businessman Philip Green’s Arcadia fashion empire into administration on Monday looks set to bring an inglorious end to a remarkable, and controversial, career. With about 13,000 jobs under threat, and an estimated 350-million-pound ($467 million) hole in the company’s pension fund, […]

JPMorgan Chase & Co plans to freeze salaries for most employees with titles of vice president and above even as it expects to increase bonuses for some traders as much as 20%, according to a person familiar with the matter. The plans come as bank executives grapple with next year’s budgets and consequences of the […]

The insolvency of tycoon Philip Green’s Arcadia fashion group marks a dismal end to a remarkable career in the retail sector. Arcadia owns the Topshop, Topman, Dorothy Perkins, Wallis, Miss Selfridge, Evans, Burton and Outfit brands, trading from 444 leased stores in UK and 22 overseas. It employs about 13,000. Here is a timeline of […]

Ivory Coast and Ghana are cancelling all cocoa sustainability schemes that U.S.-based Hershey runs in their countries, accusing the chocolatemaker of trying to avoid paying a cocoa premium aimed at combating farmer poverty. In a letter addressed to Hershey and seen by Reuters, the Ivorian and Ghanaian cocoa regulators accuse Hershey of sourcing unusually large […]