The closure of the US Export-Import Bank (EXIM) charter is forcing the US companies to explore business options overseas. Major aerospace companies, which have been benefiting from export financing and other encouraging schemes from EXIM, are in favor of shifting out of the US. General Electric (GE) has already firmed up to its plan to set up $400-million turboprop engine in Europe. Aerospace Industries Association (AIA), the largest US aerospace trade group, expresses concerns that many aviation companies are losing their competitiveness in the absence of support from EXIM. However, conservative Republicans are against EXIM charter as it's confined to only three major companies.
Credit Suisse (CSGN.VX) is bringing in Tidjane Thiam, the head of British insurer Prudential (PRU.L), as its new chief executive to help drive the Swiss bank's push into wealth management in emerging markets.
Boeing Co (BA.N) will deliver a record 754 commercial aircraft in 2015, an increase of up to 5.5 percent, the U.S. Aerospace Industries Association forecast on Wednesday, reflecting expectations of steadily rising production at the world's biggest plane maker.
British insurer Aviva (AV.L) agreed terms on Tuesday for a 5.6 billion pound ($8.8 billion) all-share takeover of rival Friends Life (FLG.L), responding to pressures caused by pension industry reform.
British insurer Aviva Plc and Turkey's Sabanci Holding have mandated Citigroup and HSBC to sell between 20 and 25 percent of Turkish life and pensions joint venture Avivasa Emeklilik & Hayat Sigorta in an initial public offering, two sources told Reuters on Friday.
Global Eagle Acquisition appoints John Lavalle and Louis belanger-martin to top management positions upon closing of business combination
Subscribe to VCpost newsletter
Most Popular
- Former CEO Shoots Himself to Commit Suicide After Receiving $25 Million Record-Breaking Fine for Fraud at Steinhoff
- Xi Jinping Warns Dutch PM That 'No Force' Can Stop China's Technological Advancement Amid Export Restrictions
- Disney Investor Nelson Peltz Criticizes the Company’s 'Woke' Strategy, Questioning 'Black Panther' and 'The Marvels' Films
- Major AI Companies Unite to Create the World's First Artificial Superintelligence Alliance Worth $7.6 Billion
- Social Security Benefits to Increase for Some Seniors After Addressing Overpayment Issues
- Businessman Brutally Murdered Allegedly by 4 of His Workers Who Swung an Axe Into His Head
- North Korea Refuses Peace Talk With Japan Unless They Confront Their 'Brutal' History; Business Relations at Risk
- Hunter Biden Asks Court to Junk $1.4 Million Tax Evasion Case as Politically Motivated, But Judge Appears Skeptical