BBC Chair Resigns After Rule Breach Over Johnson Loan Offer
BBC Chairman Richard Sharp has resigned after an official inquiry found he breached rules by failing to fully disclose ties to the UK’s Conservative Party leadership.
Bloomberg Business
Exxon Blows Out Expectations as Oil Output Climbs From New Wells
Exxon Mobil Corp. posted its strongest-ever start to a year as oil production soars from new wells in the US and off the coast of South America.
Mercedes Says China Buyers Sticking With Its Combustion Models as EVs Take Off
Mercedes-Benz AG said it remains the go-to brand for top-end vehicles in China, where luxury buyers continue to favor combustion cars like its flagship S-Class sedan even as EV sales take off.
Top Air-Conditioner Maker Daikin Targets European Heating Market
Daikin Industries Ltd. and other Japanese air-conditioning makers are ramping up production in anticipation of greater sales of heat-pump systems in Europe, where energy prices are soaring and many homes and businesses still burn fuel during cold seasons.
BOJ’s Ueda Scraps Rates Guidance, Commits to Stimulus For Now
The Bank of Japan scrapped its guidance on future interest rate levels while keeping its main stimulus measures unchanged, as Governor Kazuo Ueda prepared the ground for taking a more flexible stance on policy.
Fugitive CEO Ordered to Pay $3.4 Billion in Record Fraud Case Involving Bitcoin
A US judge ordered a South African executive to pay more than $3.4 billion in restitution and fines for a fraud scheme involving Bitcoin — the highest-ever civil monetary penalty in any US Commodity Futures Trading Commission case.
UK Government Faces Fresh Calls to Scrutinize Regulators
The fight over who watches Britain’s financial watchdogs isn’t over yet.
UK Navy Downgrades Vessel ‘Attack’ Near Yemen to ‘Incident’
The UK Navy downgraded an “attack” of a vessel off Yemen to an “incident,” though said the situation is ongoing and advised other ships in the area to be cautious.
China’s Big Banks Post Scant Profit Gains as Margins Shrink
China’s biggest lenders, including Industrial & Commercial Bank of China Ltd., eked out profit growth in the first quarter of 2023 as they wrestled with shrinking margins and the lingering economic impact of China’s exit from Covid zero.
Italy’s Lower House Backs Meloni Spending Plan After Setback
Italy’s lower house backed Giorgia Meloni’s plan to expand borrowing to finance labor cost cuts, after suffering an embarrassing defeat in parliament on Thursday.
