Business

IAG airline’s Walsh hands control to Gallego with crisis in mid-air

Willie Walsh will pass the controls of IAG to Luis Gallego at the British Airways and Iberia owner’s annual meeting on Tuesday, where shareholders will be asked to stump up billions of euros to help it through the coronavirus crisis. Former pilot Walsh delayed his departure from International Consolidated Airlines Group (ICAG.L), which he created […]

Business

Nestle on track to meet sustainable packaging goal

Nestle (NESN.S) has increased the share of recyclable or reusable packaging for its products to 87%, making progress toward its 100% goal by 2025, and gave examples of innovation to cut plastic waste in a media briefing on Monday. Regularly cited by environmental groups such as Greenpeace as one of the top plastic polluters, the […]

Business

The fund managers, the sleuths and the mystery of the missing ESG

If fund managers are serious about clean investments, they need to get their hands dirty. That’s the view of Sasja Beslik, head of sustainable finance at Swiss bank J. Safra Sarasin, as demand surges for companies that perform well on environmental, social and governance (ESG) issues. He himself has turned ESG detective in the past, […]

Business

VW not seeking a deal with Tesla, CEO Diess says

Volkswagen’s (VOWG_p.DE) Chief Executive Herbert Diess on Monday sought to quell speculation that the world’s largest carmaker, which is on a mass production push for electric cars, has plans to develop deeper ties with start-up rival Tesla. Diess met with Tesla’s Chief Executive Elon Musk in Braunschweig, Germany, last week, and during his visit VW […]

Business

Equities tumble as Nasdaq, Brexit concerns mount; bonds rally

Global equity markets and oil prices tumbled on Tuesday as a sharp sell-off in technology stocks and rising concerns over Britain leaving the European Union without a trade agreement threatened the rally that had pushed world shares near record highs despite the coronavirus pandemic. Fresh tensions between Washington and Beijing came into focus but appeared […]

Business

Cheap seats give Chinese airlines a much-needed passenger bounce

Looking to travel from Beijing to Hangzhou in eastern China? A flight can be had for as low as 180 yuan ($26) – one of a slew of deals fuelling a robust recovery in Chinese passenger levels and which could provide a model for a beleaguered industry globally. Led by China Eastern Airlines Corp’s (600115.SS) […]

Business

China’s exports rise the most in nearly 1-1/2 years as economies reopen; imports slip

China’s exports rose for the third consecutive month in August, eclipsing an extended fall in imports, as more of its trading partners relaxed coronavirus lockdowns in a further boost to the recovery in the world’s second-biggest economy. Exports in August rose a solid 9.5% from a year earlier, customs data showed on Monday, marking the […]