Business

Citi taps Drury to lead newly launched Tech & Comms franchise

Citigroup has tasked one of its most senior London-based bankers with leading its new technology and communications franchise as the sector benefits from a wave of deals triggered by digital disruption. British-born Philip Drury, who has been leading Citi’s banking, capital markets and advisory business across Europe, the Middle East and Africa since 2018, will […]

Business

Chinese demand, higher prices boost BMW’s Q1 earnings

BMW’s first-quarter earnings bounced back more strongly than expected from a pandemic-ravaged first three months of last year, the German carmaker said on Monday, helped by higher prices and strong Chinese demand. In an unscheduled release, the company said its earnings before tax leapt by 370% to 3.76 billion euros ($4.53 billion), according to preliminary […]

Business

Harley’s renewed focus on touring bikes drives upbeat forecast

Harley-Davidson Inc on Monday raised its full-year earnings forecast after smashing analysts’ quarterly profit estimates, vindicating Chief Executive Jochen Zeitz’s decision to focus on more-profitable touring bikes at the expense of cheaper entry-level models. The motorcycle maker’s shares, which have jumped 36% since the last earnings report in February, were up about 10% at $44.38 […]

Business

Goldman names new co-head of internal client services initiative

Goldman Sachs Group Inc (GS.N) named Kim Posnett as the new co-head for an internal client services initiative called One Goldman Sachs, according to a memo seen by Reuters on Monday. Posnett, currently the global head of investment banking services, will work with co-head Sam Morgan to integrate the bank’s business divisions and improve how […]

Business

Arizona mining fight pits economy, EVs against conservation, culture

Rio buys materials from Lewis’s Superior Hardware & Lumber for its Resolution mine site, accounting for a third of the store’s sales and helping to keep it afloat during the coronavirus pandemic. But U.S. President Joe Biden put the mining project on hold last month in response to the concerns of Native Americans who say […]