UPDATE 1-Former JetBlue CEO Hayes to lead Airbus in North America

The Telegraph
Gazprom swings to £5bn loss in blow to Putin
Kremlin-owned natural gas giant Gazprom has plunged to its worst loss in at least 25 years in a blow to Vladimir Putin’s war economy.
AFP
Record loss for Russia's Gazprom as European market closed
Russian energy giant Gazprom said Thursday it suffered a record annual loss last year as the European market was practically shut to its gas exports due to sanctions over Moscow's military operation in Ukraine.Exports to Europe have long been Gazprom's top earnings source, but following the start of the conflict in Ukraine European nations sought to reduce their reliance upon Russian natural gas.
The Independent
‘The decisions you’re making are going to end with a smoking hole in the ground’: Inside the Boeing catastrophe
‘They were always caught flat-footed by some terrible problem that many people in the workplace knew would happen... And that happened over and over and over and over and over again.’ Io Dodds reports on a corporate nightmare
Reuters Videos
EVs are getting smarter and cheaper in China
STORY: Light-up emojis. Music for pedestrians outside. In China, electric carmakers are offering up luxury tech – without the luxury price tag – in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as $20,000 – less than half the cost of the average new car in the U.S. Analysts say that poses a big challenge for foreign heavyweights like Tesla and Volkswagen. This is the Nammi – on display here at the Beijing auto show. It’s made by state-owned automaker Dongfeng and sells for under $10,000. That’s around the same as BYD’s Seagull EV – China’s fourth best-selling electric vehicle. The market is also crowded with electric and plug-in vehicles that splash luxury technology. Xpeng is planning to offer an EV with high-level self-driving features – for under $21,000. Analysts say the price of specialized components like sensors needed for self-driving and screens for onboard entertainment has tumbled. That's making competition in the world’s largest auto market all the more fierce… And chipping away at the halo that once hung over foreign brands. That’s according to an outlook from McKinsey analysts released in March. Take Zeekr, for instance. It's the carmaker with those emojis. Here’s its Shanghai head of design, Javier-Garcia Gallardo: “When we see the differences between our product launch in China versus our product launch in Europe and, you know, the technical details are as important as the design and the brand. And this integration of technology is essential for the Chinese customer.” Still, German automakers say they’re not backing down. Here’s Mercedes-Benz CEO Ola Kallenius: “We have a dedicated digital tech team here all the way down to providing things like in the new E-Class, you can sing karaoke. Maybe you don't have that feature in Germany. Maybe you should. But here, customers love it.” Mercedes, as well as Volkswagen, both told Reuters they’re working to deliver those so-called “wow effects” for Chinese buyers.
Bloomberg
BHP’s Biggest Rivals Sit on the Sidelines of Anglo M&A Drama
(Bloomberg) -- Two of BHP Group’s biggest rivals are sitting on the sidelines for the moment as they watch to see how a takeover offer for Anglo American Plc will play out.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackTurkey Confirms All Trade Halt With Israel Over War in GazaTrump Auditions VP Picks Before Wealthy Donors in Palm BeachHuawei Secretly Backs US Research, Awarding Millions in PrizesBo
The Northern Echo
County Durham NHS pharmacy sold off as new owner's plans for service set out
Specialist business property adviser, Christie & Co, has announced the sale of Moorside Pharmacy in Consett, County Durham.
Liverpool Echo
'Careless' former Cardinal Heenan maths teacher cleared of misconduct
Lauren Williams-Burgeen was accused of being “motivated by dishonesty”
York Press
York business group tells new mayor what their priorities should be
The YORK-based business group Devolution Alliance has called on the new mayor of York & North Yorkshire to focus on improving inward investment into the region, upgrading its transport links and on improving leadership in the region.
Reuters
HSBC has no plans to dispose of further businesses, Chairman says
LONDON (Reuters) -HSBC has no current plans to sell more assets, its chairman Mark Tucker said on Friday at the annual shareholder meeting of the bank, which has scaled back its presence in Western markets in recent years as part of a sweeping overhaul. HSBC shareholders met in London days after the bank's CEO Noel Quinn announced his surprise retirement following a five-year tenure which saw HSBC sell retail banking operations in France and the U.S., and its entire Canadian unit, as it pivots towards Asia. The chairman's comments hint at a likely shift in direction for whomever succeeds Quinn, as the bank turns its focus away from shrinking its global empire to trying to grow its business in its remaining markets.
The Northern Echo
New North East partnership to deliver £62million changes to social housing
A multi-million-pound contract to improve social homes across the north east of England will be delivered by a new strategic partnership.
Reuters
Anglo CEO meets S.Africa mines minister after BHP's takeover proposal
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group's $39 billion takeover bid, a source familiar with the matter told Reuters. BHP, the world's biggest-listed mining group, is privately talking to investors as it weighs up its next move after Anglo's rejection of its initial proposal. BHP has proposed that Anglo sell its shares in units Anglo Platinum (Amplats) and Kumba Iron Ore as an option to exit the South African assets it does not want included in the deal.
CNN
Opinion: Could these laws fix America’s broken work culture?
Journalist Brigid Schulte examines the new “right to disconnect” efforts in California and around the globe that aim to give workers the prerogative to ignore work messages after hours, reducing the stress and burnout of our always-on and hyperconnected modern work culture.
Bloomberg
Teen Clothing Retailer rue21 Files Bankruptcy for Third Time
(Bloomberg) -- Teen clothing retailer rue21 has filed bankruptcy to close its stores and sell its brand, marking the third time the business has sought court protection and the latest sign of trouble for mall-based outlets.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly Backs US Research, Awarding Millions in PrizesBiden Calls Ally Japan ‘Xenophobic’ Along With China, RussiaIn Jamie D
Bloomberg
Banking Giants Race to Riyadh as MBS Steps Up Pressure Campaign
(Bloomberg) -- When Deutsche Bank AG last month brought back its former CEO for the Middle East and Africa, the reappointment came with a twist: Unlike his prior stint at the German lender, Jamal Al Kishi will no longer be based in Dubai, the region’s traditional business hub known for swanky villas and expat comforts. Instead, he will be based in a far less glamorous Middle Eastern city — Riyadh. Most Read from BloombergUS and Saudis Near Defense Pact Meant to Reshape Middle EastSaudi Arabia St
Associated Press
US employers scaled back hiring in April. How that could let the Fed cut interest rates
The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Friday’s government report showed that last month’s hiring gain was down sharply from the blockbuster increase of 315,000 in March. The Fed has been delaying any consideration of interest rate cuts until it gains more confidence that inflation is steadily slowing toward its 2% target.
Associated Press
The first wrongful-death trial in Travis Scott concert deaths has been delayed
The start of the first civil trial stemming from the 2021 Astroworld festival, at which 10 people were killed in a crowd surge, has been delayed. Jury selection had been set to begin next Tuesday in the wrongful-death lawsuit filed the family of Madison Dubiski, a 23-year-old Houston resident who was killed during the crowd crush at the Nov. 5, 2021, concert by rap superstar Travis Scott. “Unless I hear differently, the trial is stayed,” state District Judge Kristen Hawkins said during a court hearing Thursday.
Fool.co.uk
Can Diageo’s new chief financial officer help to reverse the falling share price?
Despite Diageo’s weaker share price, a revitalised management and a focus on strategy execution look set to keep the dividend growing. The post Can Diageo’s new chief financial officer help to reverse the falling share price? appeared first on The Motley Fool UK.
Bloomberg
Huawei Lab Barred by US FCC as Part of Crackdown on China
The US Federal Communications Commission is barring a Huawei Technologies Co. laboratory from approving telecommunications gear for use in the US. The regulator is also proposing similar moves against other providers including Chinese companies. Peter Elstrom reports on Bloomberg Television.
Reuters
JPMorgan says its Russia assets may be seized after lawsuits in Russia, US
NEW YORK (Reuters) -JPMorgan Chase said in a filing on Wednesday that its assets in Russia may be seized after lawsuits in Russian and U.S. courts. The bank faces several legal challenges over its Russian dealings after the U.S. and European nations imposed economic sanctions on Russia in response to its invasion of Ukraine. The value of claims and orders to freeze assets exceeds JPMorgan's available assets in Russia, the largest U.S. lender said.
Reuters Videos
Apple unveils record buyback as results beat forecasts
STORY: Apple announced a record share buyback program on Thursday as the iPhone maker revealed a smaller-than-expected drop in revenue.The company upped its cash dividend by 4%, and is buying back $110 billion worth of stock.It's the largest buyback in Apple's history, fueling a jump in shares after hours.Apple reported a revenue drop of 4% to almost $91 billion in the fiscal second-quarter.That's not as steep a fall as analysts had predicted.A positive forecast came from CEO Tim Cook.He told Reuters the iPhone maker expects "to grow low-single digits" in overall revenue in the current quarter ending in June.Wall Street is predicting closer to 1.3% growth, according to LSEG data.The results and guidance suggest the company may be regaining its footing in the smartphone market, despite stiff competition and regulatory challenges.Long considered a must-own stock on Wall Street, Apple shares have underperformed other Big Tech firms in recent months.It's fallen 10% this year while struggling with weak iPhone demand and tough competition in the Chinese market.Smartphone rivals like Samsung have also introduced competing devices aimed at hosting artificial intelligence chatbots.Though Cook said Thursday that iPhone sales still experienced "growth in some markets, including China."He also said Apple has spent more than $100 billion on AI research and development in the past five years.And that the company would be sharing "some very exciting things" about its AI plans later this year.

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UPDATE 1-Former JetBlue CEO Hayes to lead Airbus in North America

Latest stories

Gazprom swings to £5bn loss in blow to Putin

Record loss for Russia's Gazprom as European market closed

‘The decisions you’re making are going to end with a smoking hole in the ground’: Inside the Boeing catastrophe

EVs are getting smarter and cheaper in China

BHP’s Biggest Rivals Sit on the Sidelines of Anglo M&A Drama

County Durham NHS pharmacy sold off as new owner's plans for service set out

'Careless' former Cardinal Heenan maths teacher cleared of misconduct

York business group tells new mayor what their priorities should be

HSBC has no plans to dispose of further businesses, Chairman says

New North East partnership to deliver £62million changes to social housing

Anglo CEO meets S.Africa mines minister after BHP's takeover proposal

Opinion: Could these laws fix America’s broken work culture?

Teen Clothing Retailer rue21 Files Bankruptcy for Third Time

Banking Giants Race to Riyadh as MBS Steps Up Pressure Campaign

US employers scaled back hiring in April. How that could let the Fed cut interest rates

The first wrongful-death trial in Travis Scott concert deaths has been delayed

Can Diageo’s new chief financial officer help to reverse the falling share price?

Huawei Lab Barred by US FCC as Part of Crackdown on China

JPMorgan says its Russia assets may be seized after lawsuits in Russia, US

Apple unveils record buyback as results beat forecasts