Thu05252017

LAST_UPDATEThu, 25 May 2017 6pm

Sony Chief Promises Profitability, But Is Short On Specifics

TOKYO — Sony’s leader promised a comeback for the Japanese electronics and entertainment company having its best profitability in two decades.

Read more: Sony Chief Promises Profitability, But Is Short On Specifics

Saudi Arabia Pledges $20 Billion To Blackstone For American Infrastructure

The firm at the center of the deal, the Blackstone Group (BX), has a close connection to President Trump. Blackstone CEO Steve Schwarzman advises the president on policy issues ranging from trade to infrastructure.

Read more: Saudi Arabia Pledges $20 Billion To Blackstone For American Infrastructure

Cathay Pacific Airways To Cut Additional 200 Jobs On Top Of The 600 Announced

Pic: ReutersHONG KONG: Hong Kong's flagship carrier Cathay Pacific Airways Ltd plans to cut an additional 200 jobs on top of the 600 already announced as it seeks to return to profitability, the South China Morning Post reported on Tuesday.

Read more: Cathay Pacific Airways To Cut Additional 200 Jobs On Top Of The 600 Announced

Trump Budget Would Cut Oil Stockpile, Open Arctic Refuge To Drilling

Pic: Reuters

WASHINGTON: U.S. President Donald Trump's White House would sell half of the nation's emergency oil stockpile and open the Alaska National Wildlife Refuge to drilling as part of a plan to balance the budget over the next 10 years, documents released by the administration on Monday showed.

Read more: Trump Budget Would Cut Oil Stockpile, Open Arctic Refuge To Drilling

Sterling Retreats After Manchester Blast, Stocks Steady

An ambulance drives away from the Manchester Arena, where U.S. singer Ariana Grande had been performing, in Manchester. REUTERS/Andrew Yates

SINGAPORE: Sterling extended losses after British police said they were treating an explosion in Manchester as a possible terrorist attack, while the euro retained gains made on comments by German Chancellor Angela Merkel that the common currency was "too weak."

Read more: Sterling Retreats After Manchester Blast, Stocks Steady

Pound Falls Versus Yen After Manchester Blast

TOKYO: The British pound sagged against the yen on Tuesday (May 23) after a blast at a concert in the city of Manchester killed at least 19 people.

Read more: Pound Falls Versus Yen After Manchester Blast

Nazir Razak Leaving EPF Panel, Tenure Ends This Month

KUALA LUMPUR: Datuk Seri Nazir Razak has opted not to be renewed as an Employees Provident Fund (EPF) panel member when his tenure ends this month.

Read more: Nazir Razak Leaving EPF Panel, Tenure Ends This Month

Cathay Pacific Sacks 600 Staff

HONG KONG — Cathay Pacific Airways said Monday it's laying off nearly 600 staff at its headquarters in its biggest round of firings in two decades as it faces rising competition from rival carriers and tough business conditions.

Read more: Cathay Pacific Sacks 600 Staff

Ford Boss Axed As Car Maker Switches Gear

Ford is replacing its chief executive Mark Fields as part of a wider shake-up at the top of the US car maker.

Read more: Ford Boss Axed As Car Maker Switches Gear

Volkswagen CEO Says Enforcing Culture Change Poses Challenges

Pic: ReutersVolkswagen's top executive said some managers are resisting the German carmaker's push for a new era of accountability after its emissions fraud, suggesting it could still take years to establish a new corporate culture.

Read more: Volkswagen CEO Says Enforcing Culture Change Poses Challenges