Daily Management Review
Management

Norway wealth fund director is stepping down

Yngve Slyngstad, Head of the organization managing the Norway Wealth Fund, decided to resign. This is stated in the quarterly report of the fund. He will remain in office until he finds a successor. Once he resigns, Yngve Slyngstad plans to continue working in the fund and to invest in the fund’s...

Fiat And PSA In A Possible ‘$50 Billion’ Tie-Up Talks

Fiat holds merger talks at a time when the auto industry sees dwindling demand as oppose rising cost of emission reduction technologies. Fiat Chrysler and “Peugeot owner PSA” are in talks about a possible “tie-up” which could give “create a $50 billion car giant gathered pace”, while one source...

Is Joining Libra Association Proving Costly To Zuckerberg?

Zuckerberg faces the U.S Congress for Libra Project and other failures of Facebook. Facebook Inc’s chief executive officer, Mark Zuckerberg agreed that Libra, Facebook’s “planned digital currency” seems to be a “risky project” while reassuring the U.S. authorities that it could take global...

Boeing 737 MAX Crisis: Company Removes Senior Executive

In what can be described as the most notable change in the management levels of the company, one of its top ranked executives was removed by the United States based aircraft maker Boeing in connection to the global grounding of its onetime cash cow the 737 Max planes following two fatal accidents...

HSBC to lay off up to 15 thousand employees

HSBC Bank's interim CEO, Noel Quinn, intends to significantly reduce the company's costs by cutting down up to 15 thousand employees. According to the Financial Times, in addition to the 4.7 thousand job cuts announced a few weeks ago, the British bank intends to dismiss another 10 thousand...

New ‘Shipping Finance’ Chairman Of Citigroup To Take Forward ‘Poseidon Principles’

Citigroup’s planned transition turns its focus on environmental commitments. Michael Parker, a “veteran shipping finance banker” of Citigroup gets appointed as the chairman of “shipping & logistics business” of the bank. As per Citi’s information, Parker’s responsibility will also include...

Study: US companies lose $ 223 billion due to toxic work environment

Staff turnover caused by tensions in the workplace has deprived US companies of nearly a quarter trillion dollars over the past five years, according to a study published by the Society for Human Resource Management (SHRM, Virginia). The study showed that staff turnover due to the "toxic"...

German Prosecutors Bring Market Manipulation Charges Against VW Top Executives

Charges of manipulating the market in connection to the diesel emissions scandal that had rocked the German auto giant Volkswagen have been brought against three current and former executives of the company.   According to the charges filed by German prosecutors, investors were not informed...

US largest labor union secures right to strike at General Motors, Ford, Chrysler

the largest U.S. worker unions, the United Automobile Workers (UAW), has been authorized by its members to go on strike during the upcoming negotiations on new labor contracts among the workers of three American automobile concerns - General Motors, Ford and Chrysler (part of Fiat Chrysler...

Jack Ma believes in possibility of switching to a 12-hour work week

Jack Ma, the billionaire and founder of Alibaba, said people could only work 12 hours a week thanks to artificial intelligence and educational reform. Ma made this statement during a speech at the World Conference on Artificial Intelligence in Shanghai. He believes that thanks to technological...
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