Business

[ad_1] Bosses at some of the U.K.’s largest banks faced confusion and chaos after discovering hundreds of fake documents relating to their financial assets, filed by an ordained “Dudeist priest” in Northern Ireland. The alarm was raised by banking trade association UK Finance, which wrote to its members earlier this year warning that over 800 false loan documents relating to…

[ad_1] It’s been a bad year so far for startups offering electric vehicles. It could get a lot worse. The problem is not that EV sales aren’t growing. They are, despite a slowdown. It’s that they’re not growing as quickly as carmakers had anticipated. “The pace that all the automakers were expecting is not there,” former Ford CEO Mark Fields…

[ad_1] Donald Trump said he would hit cars made in Mexico by Chinese companies with a 100% tariff, double the levy he has previously said he would put on automobiles made south of the US border. Trump addressed Chinese President Xi Jinping directly during a rally speech in Dayton, Ohio on Saturday when threatening the tariffs. “Those big monster car manufacturing plants you…

[ad_1] Hertz Global Holdings Inc. is replacing its chief executive officer in the wake of a disastrous bet on electric vehicles that the company began unwinding in recent months. Stephen Scherr, who ran Hertz for just over two years after three decades at Goldman Sachs Group Inc., has decided to step down, the rental-car company said late Friday in a…

[ad_1] A man was shot multiple times and critically wounded on a New York City subway train as it arrived at a busy station in downtown Brooklyn on Thursday, panicking evening rush hour passengers. The shooting came a week after Gov. Kathy Hochul sent the National Guard into the subway system to help police search people for weapons after a series of high-profile…

[ad_1] Stephanie Linnartz got even less time than expected to fix Under Armour’s many problems. Linnartz, a veteran executive who was previously No. 2 at Marriott International, left the global hotel chain last year to become CEO of Under Armour. She took over the struggling sportswear chain on Feb. 27, 2023—and, the company said today, she will be leaving the…

[ad_1] Most electronic systems that take on some driving tasks for humans don’t adequately make sure drivers are paying attention, and they don’t issue strong enough warnings or take other actions to make drivers behave, according to an insurance industry study published Tuesday. Only one of 14 partially automated systems tested by the Insurance Institute for Highway Safety performed well…

[ad_1] Jamie Dimon said he wouldn’t take the prospect of a recession in the US “off the table,” but that the Federal Reserve should wait before it cuts interest rates. “The world is pricing in a soft landing, at probably 70-80%,” the JPMorgan Chase & Co. chief executive officer said via video link at the Australian Financial Review Business Summit…

[ad_1] Reddit Inc. and its investors are seeking to raise as much as $748 million in what would be one of the biggest initial public offerings so far this year, according to people familiar with the matter. The social media platform and some of its current shareholders plan a sale of 22 million shares for $31 to $34 each, said the…

[ad_1] On November 18, 2021, Vijay Shekhar Sharma took to the stage at the Bombay Stock Exchange, wiping away tears as he addressed the crowd. His company, One97 Communications, had just completed India’s largest IPO ever, raising $2.4 billion and vaulting Sharma and his company to Indian tech stardom.  One97 Communications was better known as the parent company of Paytm,…