Reuters UK Business

(Reuters) -Citigroup has hired law firm Paul Weiss to investigate complaints about the behavior of the bank’s wealth management chief, Andy Sieg, Bloomberg News reported on Wednesday, citing people with direct knowledge of the matter. The complaints accused Sieg “of intimidating and unfairly sidelining employees”, the report said. Paul Weiss’s investigation is now complete, it …

Citi investigating HR complaints against wealth head Sieg, Bloomberg News reports Read More »

By Tim Hepher PARIS (Reuters) -A French technology startup unveiled plans on Wednesday to work with clean-aircraft venture JetZero to explore a potential hydrogen-powered variant of its futuristic all-wing design. The move by SHZ Advanced Technologies is likely to rekindle a debate over the potential for zero-emission flight, six months after Europe’s Airbus put the …

French firm teams up with JetZero on hydrogen-powered flight Read More »

LONDON (Reuters) -Thousands of Airbus workers in Britain will go on strike for 10 days starting next month over a demand for better pay, threatening to disrupt production of aircraft wings, trade union Unite said on Wednesday. Unite, which represents more than 3,000 aircraft fitters and engineers at Airbus, said 90% of members voting in …

Airbus UK workers to strike for 10 days over pay Read More »

By Samantha Marshak (Reuters) -In an era of short attention spans and a White House that has declared war on diversity programs, companies are embracing edgier marketing. But the strategy can carry risks. Swiss watchmaker Swatch recently got in trouble for an ad that mimicked racist taunts against Asians and had to apologize. The ad …

Swatch ad that sparked backlash puts focus on risky campaigns amid diversity rollbacks Read More »

COPENHAGEN (Reuters) -Wegovy-maker Novo Nordisk  has implemented a global hiring freeze covering job roles that are not critical for its business, the company said on Wednesday. The company is battling competition from copycat versions of its blockbuster Wegovy obesity drug this year and could face layoffs as it battles rising pressure from its main rival …

Drugmaker Novo Nordisk freezes hiring for non-critical jobs Read More »

By Juby Babu (Reuters) -Current and former employees of OpenAI are looking to sell nearly $6 billion worth of the ChatGPT maker’s shares to investors including SoftBank Group and Thrive Capital, a source familiar with the matter told Reuters on Friday. The potential deal would value the company at $500 billion, up from $300 billion …

OpenAI staff looking to sell $6 billion in stock to SoftBank, others, source says Read More »

ROME (Reuters) -Valentino has appointed industry veteran Riccardo Bellini as new chief executive, it said on Wednesday, hiring him from the Qatari fund Mayhoola which is the Italian fashion house’s parent company. Bellini, who will take up the role at the start of September, replaces Jacopo Venturini whose departure was announced last week. The appointment …

Italy’s Valentino hires fashion industry veteran Bellini as CEO Read More »

By Savyata Mishra (Reuters) -Lowe’s Cos said on Wednesday it has agreed to buy interior building products distributor Foundation Building Materials for nearly $8.8 billion, stepping up its expansion into the business that serves contractors and builders. Shares of the home improvement chain rose 2% to $261.70 in early trading as the company also raised …

Lowe’s to buy Foundation Building Materials for $8.8 billion to boost contractor business Read More »

(Reuters) -Hertz Global Holdings said on Wednesday its car sales unit was partnering with Amazon.com’s automotive retail platform, Amazon Autos, to sell pre-owned vehicles, sending the car rental company’s shares up 7% in early trading. Shares of used-car retailers fell, with Avis Budget Group down 6%, Carvana losing 4.2% and CarMax shedding 1.4%. The collaboration …

Hertz partners with Amazon Autos to sell used vehicles online Read More »