Category Archives: CNN – Business

UBS, the world’s largest wealth manager, is getting a new CEO

UBS, the world’s largest wealth manager, is getting a new CEO

There’s another leadership change atop a major Swiss bank. UBS, the world’s largest wealth manager, has announced that Sergio Ermotti is stepping down as CEO. He’ll be replaced by Ralph Hamers, the current chief executive of Dutch bank ING. Axel Weber, the chairman at UBS, said in a statement that Hamers “is the right CEO…MORE

The financial cost of the coronavirus is becoming clearer for airlines

The financial cost of the coronavirus is becoming clearer for airlines

Qantas, Air France and KLM are taking a big hit from the novel coronavirus. The airlines on Thursday estimated the financial cost from the outbreak, which has forced airlines around the world to cancel flights in Asia. Qantas, the flagship carrier of Australia, reported the coronavirus could reduce its profit by up to 150 million…MORE

A new use for McDonald’s used cooking oil: 3D printing

A new use for McDonald’s used cooking oil: 3D printing

Professor Andre Simpson had a problem. The University of Toronto’s Scarborough campus was paying through the nose for a crucial material for its 3D printer. Few would have guessed McDonald’s would come to the rescue. Simpson is director of the school’s Environmental NMR Center dedicated to environmental research. Central to this research is an analytical…MORE

The economy is roaring. So why are more workers striking?

The economy is roaring. So why are more workers striking?

Labor strikes are back. Forty-six thousand GM employees made headlines last year by halting work to ask for stronger protections and better healthcare. But it wasn’t just the automaker — there has been a strike renaissance over the past two years. The largest job action of 2019 involved 92,700 North Carolina public school teachers who…MORE

The world needs a new workhorse interest rate. Finding one isn’t easy

The world needs a new workhorse interest rate. Finding one isn’t easy

Wall Street is struggling to find a replacement for Libor, the scandal-plagued interest rate that governs debt and contracts worth $200 trillion, including consumer mortgages and loans. Time is now running out. Libor, which is short for the London Interbank Offered Rate, is supposed to disappear at the end of 2021. But Wall Street has…MORE

GE dodges a bullet in Trump’s battle with China

GE dodges a bullet in Trump’s battle with China

General Electric appears to have a dodged a bullet in President Donald Trump’s fight with China over the theft of American trade secrets. The Trump administration is poised to give a GE joint venture the green light to continue exporting jet engines to China — despite national security concerns raised by some US officials. That…MORE