Citigroup CEO Michael Corbat to Retire, Jane Fraser Named Successor

Citigroup said Chief Executive Michael Corbat will retire in February 2021 after eight years in the position. Jane Fraser will succeed Mr. Corbat as CEO. 


 
Huawei to Launch Smartphones Without Google Android

Huawei Technologies Co. will begin selling smartphones capable of running its self-designed operating system next year, as it seeks to keep its consumer business going without Google Android and other U.S. suppliers . 


 
LVMH To File Lawsuit Against Tiffany

LVMH plans to file a lawsuit against former acquisition target Tiffany over its management during the coronavirus pandemic. 


 
Kroger's Tech Bets Fell Short During Coronavirus

When the coronavirus changed customers' buying habits overnight, Kroger, the nation's largest grocer, wasn't as ready as some competitors, despite having invested hundreds of millions of dollars in technology to give it a digital edge. 


 
AstraZeneca CEO Sees Oxford Vaccine Possible by End of Year, Despite Setback

AstraZeneca said a Covid-19 vaccine it is developing with the University of Oxford could still be ready by the end of the year, despite the company pausing late-stage trials after a participant in the U.K. developed an unexplained illness. 


 
Europe's Telcos Are Due Their Time in the Sun

The giants of the dot-com boom have had a rough five years, but the next five could be better. 


 
Pandemic Tech Spending in China Lifts Alibaba's Cloud

Spending on China-based cloud services hit a record high in the second quarter as Chinese companies increased the use of online business tools in the aftermath of the coronavirus pandemic. 


 
Hong Kong Wins More Listings of U.S.-Traded Chinese Firms

The tally of U.S.-listed Chinese companies securing alternative listings in Hong Kong grew, as stock in China's largest restaurant group started trading in the city and a major hotel chain began taking orders for its own offering. 


 
BP Expands U.S. Offshore Wind Presence

BP has agreed to pay $1.1 billion for some of Equinor's U.S. assets as part of a deal with the Norwegian group to develop offshore wind projects in America. 


 
Suez Rejects Veolia Approach

Suez has rejected Veolia's "hostile" approach and said it undervalues the company and raises other issues, but added that it's open to exploring alternatives to the possible bid.