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  • SoftBank CEO Cancels Speech at Saudi Investment Conference

    October 23, 2018 12:30 PM 14

    Masayoshi Son becomes the latest executive to change plans after the death of journalist Jamal Khashoggi SoftBank Group Corp.’s Chief Executive Masayoshi Son has canceled his speaking role at a major Saudi Arabian business conference this week, a decision that could test the multibillion-dollar business partnership between the Japanese tech investor

  • Lockheed Martin profit rises 17 percent in third quarter

    October 23, 2018 12:16 PM 16

    (Reuters) - Lockheed Martin Corp (LMT.N), the Pentagon’s No. 1 weapons supplier, reported a 17 percent rise in quarterly profit on Tuesday, driven by more production of F-35 fighter jets. Net income rose to $1.47 billion, or $5.14 per share, in the third quarter, from $963 million, or $3.32 per share, a year earlier. Lockheed Martin Chief Executive Officer

  • Saudi's PIF invested in 50-60 firms via SoftBank fund: director

    October 23, 2018 12:12 PM 15

    RIYADH (Reuters) - The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, has invested in 50 or 60 companies via SoftBank Group’s (9984.T) Vision Fund and will bring most of those firms to the kingdom, managing director Yasir al-Rumayyan said on Tuesday. The state fund has agreed to invest $45 billion in the giant tech fund led by SoftBank

  • Russian fund CEO says Saudi economic drive important for world

    October 23, 2018 12:12 PM 16

    RIYADH (Reuters) - Saudi Arabia’s economic transformation plan is important for the world, the chief executive of the Russian sovereign wealth fund Russian Direct Investment Fund (RDIF) said on Tuesday. Kirill Dmitriev, who runs the $10 billion Russian fund, told an investment conference in Riyadh that Saudi Arabia is an important partner and that partnership

  • Wide Recalls Are Latest Jolt to Food-Supply Chain

    October 22, 2018 10:31 PM 22

    Whole Foods, Walmart, Trader Joe’s among retailers affected by salmonella and listeria worry More than a dozen companies have recalled millions of pounds of potentially contaminated food in recent days in a new challenge for food producers facing heightened scrutiny of the U.S. food supply. Food manufacturers across the country are recalling nearly 4 million

  • Uber’s Top Deal Maker Resigns After Misconduct Allegations Revealed

    October 22, 2018 10:09 PM 20

    Cameron Poetzscher steps down following WSJ article revealing allegations Uber Technologies Inc.’s top deal maker, Cameron Poetzscher, has resigned from the company, a departure that comes less than a month after a Wall Street Journal article revealed allegations of prior sexual misconduct in the office. Mr. Poetzscher, the corporate development head, was a trusted

  • Arm CEO pulls out of Saudi conference: source

    October 22, 2018 6:45 PM 19

    (Reuters) - British chip designer Arm Holdings Chief Executive Officer Simon Segars has pulled out of the Saudi Arabia investment conference this week, a source familiar with the matter told Reuters on Monday. Segars is the latest among several high-profile company executives to pull out of the conference amid mounting pressure on Riyadh over the disappearance

  • Kimberly-Clark Names Michael Hsu as CEO, Successor to Thomas Falk

    October 22, 2018 5:08 PM 22

    Kimberly-Clark Corp. said it was switching chief executives in the midst of a restructuring program intended to boost profits as the maker of Kleenex tissues, Scott toilet paper and Huggies diapers struggles with weak sales. Current President and Chief Operating Officer Michael Hsu is set to become chief executive officer effective Jan. 1, succeeding

  • Airlines Face Rising Fuel Costs. Blame Cruise Ships

    October 22, 2018 1:45 PM 52

    Shipowners are expected to switch next year to cleaner diesel, which could send jet-fuel costs—and ticket prices—higher Airline fuel budgets are about to get squeezed by unlikely competitors. Next year, shipowners around the world are expected to start switching to cleaner-burning diesel fuel, part of global regulations taking effect in 2020 aimed at reducing

  • Super Micro Computer Denies Malicious Chip Report

    October 22, 2018 1:43 PM 23

    Company to conduct a review in light of the story which alleged a ‘supply chain attack’ carried out by Chinese spies Super Micro Computer Inc. said in a letter to customers that a media report claiming a malevolent hardware chip was installed in its motherboards is incorrect and that it is conducting a review in light of the story. “We are confident